Evolution’s Klein calls for bold strategy to future-proof Australia’s mining industry

Gold and copper miner Evolution Mining founder and chairperson Jake Klein has called for a clear strategy to future-proof Australia’s mining industry in an increasingly unstable global environment in which globalisation is being replaced with nationalism and tribalism.

In his speech at Evolution’s AGM, Klein argued that Australia must act proactively to maintain and enhance its position as a global leader in mining. While acknowledging the country’s strengths, including its vast, geologically-rich landscape and low population, he made the case for a strategic overhaul to maximise the country’s potential.

“I have often made the point that Australia is God’s gift to miners, and I believe that remains the case today,” Klein remarked. “But we have the opportunity – and in fact, I would argue, the obligation – to make it even greater.”

Klein called for a unified approach to policy-making, where federal and state governments worked together to create an environment that incentivised Australian enterprises to lead not just in mining, but across the entire value chain. He outlined several key areas that needed attention, starting with the country’s regulatory framework, tax system, and energy sector.

“We need to ensure that we always have a world-class regulatory process, a competitive tax and royalty regime, cheap, reliable and preferably green power, a growing, motivated talent pool and strong, consistent and reliable government,” Klein stated.

He also stressed the importance of fostering a motivated talent pool through investments in education and training, particularly in fields such as geology, mining engineering, and geosciences.

“I think it is an appalling situation that we have fewer places at universities today for geosciences, geology, mining engineering and other necessary degrees for our industry than we did a decade ago,” Klein lamented. ” When young people are deciding their career paths, they need to be attracted to our industry because they know they will get a world-class education which will lead to an exciting, lucrative and all-around rewarding career.”

In addition to the focus on education, Klein called for the mining sector to embrace technological innovation, with a focus on attracting young talent in the technology space to drive breakthrough solutions in mining. This, he believes, will be key in maintaining the sector’s relevance in the global economy.

“We need vision and commitment to ensure that when young people in the tech space aspire to develop the next breakthrough technology, they think of mining first,” he said.

Lastly, Klein advocated for greater public awareness of the mining industry’s critical role in Australia’s future prosperity. He noted that mining should be showcased as an essential industry, not only for its economic contributions but also for its role in shaping the nation’s future.

“To achieve this, our industry and government must take a long-term, strategic view and be prepared to make big and bold decisions; looking beyond the short-term with an eye to the future and selflessly consider the generations that follow,” he said.