LB5242 Value Creation

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1 Briefing Paper for Queensland Resources Council (QRC) on Value Issues/Gaps relating to Global Trends in the Queensland Mining Industry in 2023- 2040 Incorporating a case study on Adani Mining Pty Ltd. based on Implications of the Above Findings Prepared for Queensland Resources Council (QRC) – Mining Industry Peak Body DATED: 14/11/2023 Subject: LB5242 Value Creation Leadership Student Name: Student Number: Trimester: Tri 3, 2023 (JCUB) Assessment Item 2 Lecturer: Dr David Gration Word Count: 2156 Date Submitted:

2 1. Introduction From resource extraction to processing, mining is crucial to Queensland's economy. Despite Queensland's mining sector's complexity, global megatrends will shape industries worldwide until 2040. The global context expands Queensland mining sector issues and opportunities. Value issues and gaps in this sector are examined to understand industry dynamics within global megatrends from 2023 to 2040. This briefing paper addresses industry value issues and gaps for the Queensland Resources Council (QRC). It highlights critical areas requiring attention and strategic foresight by covering economic uncertainties, the metaverse, cloud computing, and evolving terrorism landscapes from Week 6 to Week 10. 2. Background 2.1 Queensland Mining Industry Overview The Queensland mining industry is essential to the state's economy. Queensland's economy was $349 billion in 2020, with agriculture, financial services, tourism, and mining contributing (Queensland Treasury, 2020). Mining is a major contributor to economic prosperity. Coal, minerals, and natural gas dominate resource extraction in the industry. Queensland's mining industry thrives in Fitzroy, South West, and Darling Downs Statistical Divisions (Queensland Department of Resources (QDR), 2022). Importantly, the mining industry employs 77,000 Queenslanders throughout its many sectors (QDR, 2022). The mining industry contributed $27.5 billion to Queensland's economy in 2020–21 (QDR, 2022). 2.2 Queensland Resources Council (QRC) The QRC represents and advocates for Queensland's mining and resources sector. Since 1910, when Queensland received mining rights, the QRC has evolved into a non-governmental and non-profit organisation (West & Pilgrim, 2023). Since 2003, the council has dominated the

3 sector, moving outside key mining districts. The QRC advocates for its members in search, mining, minerals processing, and energy production, not only representation. The Queensland Minerals and Energy Academy (QMEA) and Resource Awards for Women demonstrate the council's commitment to industry innovation and sustainability (QDR, 2022). 2.3 Adani Mining Pty Ltd. Case Study Adani Mining Pty Ltd. is a major regional Queensland miner. The Carmichael mine and rail project, located approximately 300 kilometres west of the Queensland coast in the Galilee Basin, is Adani Mining's flagship project and greatly benefits the local and regional economy (West & Pilgrim, 2023). Queenslanders will gain thousands of employments and community development from the Carmichael Project, a coal mining and rail project (Adani Australia, n.d.). With ambitions for a 10 million tons per year mine and a 200-kilometer narrow gauge rail route to the Port of Abbot Point, Adani Mining's efforts go beyond economic growth to infrastructural development (Somerville & Ames, 2020). The company's importance in the Queensland Resources Council makes it a significant case study. Beyond its economic impact, the corporation must promote sustainable practises to meet QRC targets. 3. Megatrends and Global Issues 2023-2040 in relation to the Queensland Mining Industry The Queensland mining industry is closely tied to the global megatrends and challenges that will influence the globe from 2023 to 2040. Understanding these broad trends helps predict obstacles, seize opportunities, and promote sector sustainability. 3.1 Economic Uncertainties: Currency Wars, Financial Uncertainties, and Generational Cycles Currency conflicts, financial instability, and generational cycles plague the global economy. These macroeconomic factors affect commodity prices, investment flows, and

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4 Queensland mining industry health (Scoones, 2019). Currency changes might hurt mining exports' competitiveness, affecting revenue and market dynamics (Engemann, 2019). Mining workers are demographically shaped by generational cycles. The sector must modify its personnel acquisition, retention, and development methods as younger generations enter the workforce with different values and interests. The Queensland mining industry must embrace nimble business models, robust risk management techniques, and proactive actions to handle these economic risks. 3.2 Terrorism, Fundamentalism, and Unforeseen Events Geopolitical concerns, terrorism, extremism, and unexpected occurrences threaten the mining industry and other important infrastructures. The global nature, complex supply chains, and necessity for geopolitical stability make it vulnerable to disturbances. Unexpected occurrences like natural disasters or political upheavals can affect Queensland mining production plans, resource availability, and market dynamics (Kaya, 2020). Geopolitical risk assessments, resilient supply chain strategies, and enhanced monitoring and response technologies are needed to address these threats (Engemann, 2019). Queensland mining corporations should work with government and international organisations to improve security, transparency, and resilience to terrorism, fundamentalism, and unexpected occurrences. 3.3 Cloud Computing and the Emergence of the Metaverse The Queensland mining industry is undergoing a digital change due to cloud computing and the metaverse. Cloud computing improves data management, analytics, and collaboration, improving operations, agility, and industry resilience (Comella-Dorda et al., 2021). The metaverse offers new marketing, collaboration, and operational efficiencies, with Queensland mining corporations pursuing virtual simulations, training, and stakeholder involvement (Hazan

5 et al., 2022). To stay ahead of digital innovation and manage cybersecurity, data protection, and cultural adaptability, the sector must adopt a strategic strategy. 3.4 Thriving Australian Tech Workforce: A Roadmap for the Future The evolution of technology in the mining sector necessitates a skilled and adaptable workforce. The roadmap to create a thriving Australian tech workforce aligns with the industry's need for expertise in artificial intelligence, data analytics, robotics, and other emerging technologies (TCA, 2023). Queensland mining companies must invest in training programs, collaborate with educational institutions, and foster a culture of continuous learning to ensure that the industry remains competitive and at the forefront of technological advancements. 4. Queensland Mining Industry Value Issues/Gaps Analysis 4.1 Space Exploration and Mining The arrival of space-related technologies introduces both challenges and opportunities for the Queensland mining industry. Embracing space exploration trends necessitates a re-evaluation of existing business models and resource extraction methods (KPMG, 2023). Adapting to the growing importance of space-related endeavours requires innovation and collaboration within the industry. 4.2 Economic Uncertainties and Currency Wars The Queensland mining industry is intricately linked to economic uncertainties, particularly those stemming from currency wars and financial instabilities. The sector faces the substantial impact of these uncertainties, necessitating the adoption of agile business models and robust risk management strategies to effectively navigate the fluctuations in commodity prices and investment flows (Scoones, 2019). Queensland's resilience in the face of economic uncertainties is principal for sustained growth and stability. The dynamic nature of currency wars

6 and financial instabilities requires constant adaptation to ensure the industry's competitiveness and ability to seize opportunities even amid challenging economic conditions (Ahir et al., 2022). By proactively addressing economic uncertainties, the Queensland mining industry can position itself for long-term success in a volatile global economic landscape. 4.3 Terrorism, Fundamentalism, and Unforeseen Events Proactive measures are essential to safeguard the industry's operational efficiency and mitigate potential threats stemming from terrorism, fundamentalism, and unforeseen events for the Queensland mining industry. The industry operates in a global context, making it susceptible to geopolitical challenges and unexpected disruptions (Kaya, 2020). To fortify its resilience, the Queensland mining sector needs to prioritize the development of comprehensive risk assessment and mitigation strategies. This entails an evaluation of potential risks, including geopolitical instabilities, terrorism, and unexpected global events. By anticipating and preparing for these challenges, the industry can navigate uncertainties and maintain its role as a critical contributor to the economy. 4.4 Cloud Computing and Innovation in the Metaverse The Queensland mining industry stands at the forefront of transformative possibilities with the rise of cloud computing and the metaverse. Embracing these technologies opens avenues for innovation, enabling enhanced data management, collaboration, and operational efficiencies within the sector (Hazan et al., 2022). Cloud-ready operating models provide the industry with the infrastructure to streamline operations and improve agility (Calatayud et al., 2019). This adoption facilitates optimal resource allocation, data analytics, and real-time monitoring, addressing the dynamic needs of the mining industry.

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7 However, the integration of cloud computing requires careful planning to overcome potential challenges such as cybersecurity threats and data privacy concerns. Moreover, the metaverse introduces new applications for Queensland mining. Virtual simulations, training programs, and stakeholder engagement can be conducted in this digital space, fostering innovation and experimentation within the industry (Calatayud et al., 2019). Yet, the transition to metaverse technologies demands careful consideration of workforce adaptation to ensure seamless implementation and sustainable benefits for the Queensland mining sector. 4.5 Hybrid Cloud World and Business Acceleration The industry’s journey into the cloud is instrumental for unlocking business acceleration and sustaining growth amid dynamic challenges. Accelerating the adoption of cloud technologies is essential for Queensland mining to enhance operational processes and resource allocation. This transition involves a forward-thinking approach, emphasizing the integration of artificial intelligence and data analytics (Calatayud et al., 2019). These technologies enable the industry to optimize resource allocation, ensuring efficiency in operational processes. By leveraging AI and data analytics, the mining sector can achieve agility and resiliency. The implementation of these technologies contributes to real-time decision-making and resource optimization, addressing the industry's evolving demands. This proactive strategy positions Queensland mining on the forefront of technological innovation, ensuring its adaptability to the challenges of a hybrid cloud world. 5. Adani Mining Pty Ltd. (Case Study) Impact Discussion Adani Mining Pty Ltd., as a key player in the Queensland mining industry, faces distinct impacts and challenges aligned with the Megatrends and Global Trends.

8 5.1 Space Exploration and Mining The rise of space-related technologies presents both challenges and opportunities for Adani Mining. While space exploration offers potential diversification and collaboration avenues, the organization must adapt its operations and resource extraction methods to align with the evolving dynamics of space-related endeavours (KPMG, 2023). This includes exploring potential extraterrestrial mining opportunities in the future. 5.2 Economic Uncertainties and Currency Wars Adani Mining is directly influenced by economic uncertainties stemming from currency wars and financial instabilities. Fluctuations in commodity prices impact the competitiveness of mining exports, influencing revenue streams (Engemann, 2019). The organization must develop active business models and risk management strategies to navigate economic uncertainties and maintain financial stability. 5.3 Terrorism, Fundamentalism, and Unforeseen Events The impact of terrorism, fundamentalism, and unforeseen events on Adani Mining requires a proactive approach to risk management. The organization must develop robust strategies to address geopolitical risks and unexpected disruptions, ensuring the continuity of operations, resource availability, and market dynamics (Kaya, 2020). 5.4 Cloud Computing and Innovation in the Metaverse As cloud computing and the metaverse gain prominence, Adani Mining must assess their potential impacts. Embracing cloud-ready operating models and exploring metaverse applications can enhance collaboration and operational efficiencies (Comella-Dorda et al., 2021). However, the organization must carefully navigate challenges related to cybersecurity, data privacy, and cultural adaptation in the adoption of these technologies.

9 5.5 Hybrid Cloud World and Business Acceleration Navigating a hybrid cloud world requires Adani Mining to accelerate its journey to the cloud strategically. Embracing advanced technologies such as AI and data analytics can optimize resource allocation, enhance operational processes, and ensure agility and resiliency (TCA, 2023). The organization's proactive approach to technological advancements positions it as an industry leader. 6. Concluding Comments In conclusion, the Queensland mining industry, particularly Adani Mining Pty Ltd., has several difficulties and opportunities. Industry dynamics include global megatrends, stakeholder expectations, and sustainability. As a prominent participant, Adani Mining can overcome these hurdles and advance the sector. The value gaps in corporate value creation, supply chain efficiency, risk management, innovation, and intrapreneurship indicate areas for improvement. Queensland's mining industry has been vital to the state's economy, but environmental issues and overreliance on the sector require a smart and forward-thinking strategy. Adani Mining's Carmichael Project can demonstrate sustainable resource extraction and redefine industry value. 7.0 Recommendations 7.1 Recommendations to Queensland Resources Council (QRC) Recommendation 1: Develop a Sustainable Mining Strategy QRC should formulate a SMART mining industry sustainability and innovation strategy. Recommendation 2: Educate and Promote Sustainable Practices Initiate an industry-wide awareness campaign, incorporating sustainable mining case studies, to educate and promote eco-friendly practices.

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10 Recommendation 3: Test and Demonstrate Self-Thinking Supply Chain Establish a task group within QRC to pilot self-thinking supply chain strategies in collaboration with mining companies, providing tangible demonstrations of their effectiveness. Recommendation 4: Enhance Risk Management Practices Facilitate industry-wide risk assessment and mitigation workshops and seminars to fortify risk management practices across the mining sector. Recommendation 5: Develop Intrapreneurship Training Program Collaborate with educational institutions to create a comprehensive intrapreneurship training curriculum for mining professionals, fostering innovation within organizations. Recommendation 6: Implement Key Performance Indicators (KPIs) Institute key performance indicators (KPIs) and publish annual progress reports on sustainability, supply chain efficiency, risk management, and intrapreneurship adoption to enhance transparency and accountability. 7.2 Recommendations to Adani Mining Pty Ltd. Recommendation 1: Emphasize Sustainable Practices Adani Mining should set SMART targets for reducing environmental impact, minimizing water usage, and ensuring responsible land reclamation, emphasizing sustainable mining practices. Recommendation 2: Optimize Supply Chain with Technology Invest in advanced technologies for real-time monitoring and automation with measurable targets for supply chain efficiency improvement and cost reduction. Recommendation 3: Establish Community Engagement Team Create a dedicated community engagement team within Adani Mining to address local concerns, promote environmental conservation, and foster harmonious relationships.

11 Recommendation 4: Promote Intrapreneurship in Innovation Hub Develop an innovation hub, providing employees with the resources and support to propose and implement innovative solutions, fostering intrapreneurship. Recommendation 5: Set Clear Deadlines and Report Progress Enhance sustainability, community participation, and innovation by setting clear timelines and conducting regular progress assessments, fostering a proactive approach.

12 References Adani Australia. (n.d.). Adani Enterprises. https://www.adanienterprises.com/businesses/mining- and-mdo/australia Ahir, H., Bloom, N., & Furceri, D. (2022). The world uncertainty index (No. w29763). National bureau of economic research. https://dx.doi.org/10.2139/ssrn.3275033 Calatayud, A., Mangan, J., & Christopher, M. (2019). The self-thinking supply chain. Supply Chain Management : An International Journal , 24(1), 22-38. https://doi.org/10.1108/SCM-03-2018-0136 . Comella-Dorda, S., Desai, M., Gundurao, A., Krishnakanthan, K., & Sulos, S. (2021, March 19). Building a cloud-ready operating model for agility and resiliency . McKinsey & Company. https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/ building-a-cloud-ready-operating-model-for-agility-and-resiliency Engemann, K. J. (2019). Emerging developments in organizational risk. Continuity & Resilience Review, 1(1), 26-35. https://doi.org/10.1108/CRR-03-2019-0011 . Hazan, E., Kelly, G., Khan, H., Spillecke, D., & Yee, L. (2022, May 24). Marketing in the metaverse: An opportunity for innovation and experimentation . McKinsey & Company. https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/ marketing-in-the-metaverse-an-opportunity-for-innovation-and-experimentation Kaya, A. (2020). The State of the art on radicalization. https://www.researchgate.net/publication/342698692_State_of_the_art_on_Radicalisation Scoones, I. (2019). What is uncertainty and why does it matter?. https://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/14470

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13 Somerville, R., & Ames, K. (2020). Framing development: Identifying dominant themes about the ‘Adani Project’ in local regional media. Communication Research and Practice , 6 (3), 191–208. https://doi.org/10.1080/22041451.2020.1780540 TCA. (2023). Getting to 1.2 million - Our roadmap to create a thriving Australian tech workforce . Tech Council of Australia. https://techcouncil.com.au/wp-content/uploads/2022/08/2022-Getting-to-1.2-million- report.pdf Queensland Department of Resources. (2022). Queensland resources industry development plan . http://hdl.voced.edu.au/10707/617754 . Queensland Treasury. (2020, December 18). About the Queensland economy. https://www.treasury.qld.gov.au/queenslands-economy/about-the-queensland-economy/ West, D., & Pilgrim, L. (2023, September 8). Queensland Resources Council: Spotlight . Mining Outlook. https://www.mining-outlook.com/mining-supply-chain/miningassociations/ queensland-resources-council-spotlight .

LB5242 Value Creation

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