Adapt to change and move ahead
The Stone Age didn’t end due to a shortage of stones, the age of fossil fuels will not end through running out of oil, coal or gas, and mining will not end due to lack of demand for coal or iron ore. Humankind moved on from the Stone Age due to its ability to adapt and the same will be true for fossil fuels and mining … but the sooner we adapt, the lesser the pain.
Adaptation means being willing to accept change to move on, otherwise you risk being left behind. Techenomics International is a company that is on the move by introducing new technology and adapting to change.
Techenomics’ CEO Chris Adsett says many others involved in and with mining are finding it difficult with the industry in turmoil. Unless change is accepted, these companies will be trapped in the past and unable to deliver to the new-look mining industry. This includes many large mining companies, suppliers and OEMs.
“While change is necessary, it must be centred on lower costs and higher productivity. It is not just change for the sake of change, it is a matter of looking for new and better ways of boosting productivity to serve changing markets, and doing so cost effectively.”
“Techenomics not only seeks out the most cost-effective methods of fluid management and condition monitoring, we also identify complementary technology that enhances the role of oils and fluids in keeping engines and components running, thereby ensuring improved productivity by keeping equipment and vehicles operating better and longer.
“For instance, Techenomics is innovating through nano additives which improve lubrication and reduce mechanical wear. These nano additives protect and extend engine life through mechanical means rather than chemical use.”
He says SIL Global chairman Stephen Duncan hit the nail on the head with recent comments about the need for change. SIL Global delivers finance and project development services.
Stephen Duncan said, “What was yesterday colours our perception of tomorrow. We are fully invested in the constructs of the past, unwilling to abandon the castle despite the tide of change eroding its foundations. Like all endangered species we indulge in denial.
“Change is a threat but also an opportunity. Sometimes it comes abruptly and sometimes is imperceptible. Investment in the past saw Kodak miss the digital camera revolution as digital was a novelty adjunct to their core business of film. Our vision may be blurred by our past but we are not condemned to stay there, past lessons give us wisdom to navigate the future.”
He uses the situation between renewable energy and fossil fuels as an example of how humankind moves on. “An exponential trajectory from a minuscule base (see graph) sees renewables at the tipping point where they are now cheaper than fossil fuels. Economies of scale have brought solar and wind to a point where, unsubsidised, they are cheaper than heavily subsidised entrenched fossil fuels, and getting cheaper each day. It took 20 years for renewables to achieve 1% penetration. They are now at 4% and will continue to accelerate until they dominate.
“This will be unstoppable. No amount of bluster and obfuscation can prevent the replacement of the majority of fossil fuels by renewables. Trillions have been invested and continue to be invested in dying industries - coal mines, power stations, car industry, oil and gas. They will fight but the writing is on the wall. Volkswagen’s diesel fraud clearly demonstrates the limits to incremental improvement of a dead-end technology.”
Stephen Duncan concludes: “The past is a comforting but faithless mistress. We cling to her seeking reassurance but she turns into the future and is unforgiving of ignorance.”