On April 3, President and CEO Don Lindsay provided an update to employees on our approach to Innovation and Technology and introduced the RACE21™ initiative, which we’ve included here for Connect readers.
Everywhere you look today, new technologies and innovations are changing almost every aspect of our lives. From how we communicate to how we get around to how we do our jobs, innovation is having a profound impact. And the mining industry is no exception. As the pace of change accelerates in our industry, I wanted to share my thoughts on how we are managing the opportunities and the challenges this will present.
Advancements in areas such as automation and digitalization are poised to have a transformative effect on mining in the years ahead. As is the case in every industry, those companies that are best able to adapt and harness the power of technology are the ones that will remain competitive and succeed in a changing world. History is brimming with cautionary tales of transformational advances and the companies that reacted too slowly (think Blockbuster) and those that embraced or even led the change (think Netflix).
While the speed of change may be accelerating, it’s important to keep in mind that change itself is nothing new for our industry. Since the earliest days of mining, people have worked to implement new process and technologies to improve safety, productivity and environmental performance in our industry. As a result, we are now able to find and develop deposits that would have been considered unreachable or uneconomical just a few decades before, and do so more safely and responsibly than ever.
At Teck, we have a long history of innovation and early adoption in the mining industry that stretches back over 100 years, with technologies and techniques pioneered by our people that have gone on to become the industry standard. Today, we are working to build on that proud heritage and introduce ideas that will make our company even stronger for the future. In the months ahead you will hear more about this work, particularly our RACE21™ initiative. RACE21™ is about taking a company-wide approach to renewing our technology infrastructure, looking at opportunities for automation and robotics, connecting our data systems to enable broad application of advanced analytics and artificial intelligence, and empowering our employees, with a focus on making real progress between now and 2021. Successfully advancing initiatives like RACE21™ will be critical to our continued success as a business, and help to drive a step-change in our performance.
There is no doubt that the mining workforce of the future will be different than it is today, as technological advancement will change the types of jobs that exist at the mine site. At the same time, it is understandable that undertaking this kind of transformation will raise questions from employees, communities and other stakeholders about how that change will be managed. Regardless of the pace of change or the specific tools or technologies we will use to do our jobs in the future, people will always be central to our work. As roles change and new positions arise, we are committed to becoming an industry leader in upskilling employees into roles that are required for the “Future of Work”. We see future roles being more rewarding and safer.
We will leverage the potential for new technologies to increase the diversity of our workforce and to make mining jobs accessible to more people. And we will work with our local Indigenous and non-Indigenous communities to ensure the benefits of mining are sustained. Perhaps most importantly, we will maximize the power of innovation and technology to create a step-change improvement in health and safety and environmental performance across our operations.
Since Teck was founded over a century ago, our company has grown and changed significantly. New tools and technologies have come and gone. But what has never changed is the importance of skilled and passionate people and strong relationships with communities.
As we move into this next phase of innovation and transformation, we will continue to put people and communities first. Together, we can maximize the potential of technology to make Teck safer and more competitive, and ensure we can continue to create prosperity and opportunity for the next century.
For more on RACE21™ and what it will mean for Teck, read ‘Asked and Answered’, a Q&A with Andrew Milner, Teck’s Senior Vice President, Innovation and Technology.
