LONDON, Oct 28 (Reuters) – Mining companies should make more use of technology to respond to increasing demands from investors and communities for responsible mining practices, Rio Tinto CEO Jean-Sébastien Jacques said on Monday.
Technologies such as autonomous rail-cars and increased automation can lower the impact of the industry on the environment as well as raise profit margins, he said, adding that blockchain can be deployed to track if the supply chain met ethical standards.
“There is absolutely no doubt in my mind we will face greater regulation and scrutiny,” Jacques said in a keynote speech marking the beginning of London Metal Exchange (LME) Week in London.
“Society expects more of our industry which in turn brings with it a sea-change in shareholder expectations and more and more questions on our business model.”
Pressure from investors with an environmental, social and governance, or ESG, agenda has forced miners to focus on their climate and community credentials as part of efforts to repair an image tarnished by environmental disasters and overspending.
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