Inspire Resources and OZ Minerals announce collaboration to investigate flexible, modular mining strategies.
Inspire Resources Inc.™ and the Think & Act Differently™ incubator powered by OZ Minerals Ltd are excited to announce the signing of an MoU to collaborate on understanding opportunities around scalable, adaptable and modular mining. OZ Minerals and Inspire are jointly exploring this space, as the discovery of further opportunities could lead to changes in the way future mines are designed.
Inspire Resources is a Canadian for-purpose corporation formed in 2019 to implement a new mining-centred business model for community-owned, technologically advanced development projects. Their current focus is transforming the mine design process for speed, flexibility, transparency and community participation, taking advantage of cutting-edge digital tools.
OZ Minerals is a modern mining company and one of Australia’s largest copper producers. It owns the Prominent Hill and Carrapateena mines in Australia, and also has assets in Brazil. OZ Minerals adapts to the ever-changing environment by harnessing the innovative ideas of its people and collaborating to leverage the experience of others. It is focused on creating a pipeline of opportunities in pursuit of a growth strategy to create value for its stakeholders. In 2020, OZ Minerals launched the Think & Act Differently incubator to attract the best minds from both inside and outside the mining industry and connect dots to create value in new and exciting ways.
Inspire Resources President Andy Reynolds said, “OZ Minerals first caught our attention back in 2019, but in the last six months we have built a shared understanding of the ‘systems architecture’ of mining and the opportunities this could bring. Both OZ Minerals and Inspire understand the benefit of developing more agile and adaptable mining systems, and our respective values are very well aligned, so it makes a lot of sense to team up and learn together.”
General Manager Transformation for OZ Minerals, Katie Hulmes, added, “Through the OZ Minerals Think & Act Differently incubator, we are looking to accelerate progress towards our purpose, aspirations and a mining model that generates value for our stakeholders, which comprise employees, communities, governments, shareholders and suppliers, and has a lighter impact on the environment. We believe investigating scalable, adaptable and modular opportunities through a new lens will help us get there faster.”