Value over volume The second insight is one of the most strategic messages in the study: value over volume. For many years, mining success was often measured by how much material could be extracted. Our study argues that sustainable success is increasingly about long-term value across financial, operational and social dimensions. Why value matters The reason is simple: commodity markets are volatile. Prices can rise sharply during boom times, tempting companies to chase volume. But when prices fall, high-volume strategies can and have exposed mines to rising costs and financial pressure. The Mining CEOs identify three levers that help companies choose value over volume: operational technology improvements, digitisation and rapid data analysis. This is where AI and data matter. They help leaders understand cost positions, improve productivity, reduce waste, manage volatility and future proof mines through the commodity cycle. So, the message is not “produce less”. The message is: Use technology to produce smarter, safer, better and more profitably. Modern tools, traditional mines The third insight is particularly relevant in South Africa: modern tools, traditional mines. Many South African mines are mature, complex, deep- level and labour intensive. That means transformation is not always about replacing everything. Miners are pragmatic The deck captures this with a very practical quote: “We can’t replace existing industries and business structures with a technology, but we can apply the modern technology on the existing infrastructures and extract better performance.” The full study makes the same point: success depends on how effectively tools are applied to existing operations, how well change is managed, and whether workers understand, accept and adopt the new ways of working.
Historically, the mining CEO was the custodian of ore bodies, production and safety. That role remains critical. But the study shows that the CEO is now also becoming a technology champion, a driver of innovation, an architect of digital strategy, and a leader of culture change. We were told that adopting AI is not simply a technical upgrade. It represents a fundamental shift in how mines operate, how decisions are made and how value is created. That means AI cannot sit only in IT. It must become part of strategy, capital allocation, operating model design, risk management, and culture. The reality check The data shows both intent and immaturity. The deck states that only 23% of CEO’s felt their AI strategy was well defined and aligned to business goals, while some 46% of CEOs rate their AI strategy as only “average”. That is a critical finding. It tells us that most leaders recognise the opportunity, but many organisations are still working out where to start, how to govern AI, how to connect AI to business value, and how to move beyond pilots. One of the strongest lines in the study is that if the CEO does not trigger AI in the business, it will not happen. What happens when the CEO leads When the CEO leads with clarity, the organisation starts to move. Our study shows that IT strategies become purposeful, data becomes trustworthy, silos break down, collaboration improves, and people begin to understand the “why”, not just the “what”. People need the context to work out their role and the value they can add. This is the leadership lesson: AI adoption starts at the top, but it only succeeds when it becomes real for the people doing the work. The CEO must create the conditions for experimentation, collaboration, disciplined investment and trust in data. Without that, AI remains a pilot. With it, AI becomes part of how the mine creates value.
AI and the Fourth Industrial Revolution This is where possibility starts. Take the example of AI in medicine, where AI helped scientists map over 200 million protein structures in a single year — more than all human effort combined over the previous six decades. Let’s imagine what similar intelligence and speed could do for mining. AI can already support a range of mining use cases: detecting illegal mining using satellite imagery, predicting equipment failures before they happen, optimising exploration, improving environmental performance, automating hazardous tasks, improving metal recovery in processing, supporting research into new uses for platinum group metals, finding new industrial applications for rare earths and battery chemistries, and potentially helping unlock deep- level gold resources. AI is not magic. But used properly, AI can help mining see earlier, decide faster, operate safer, reduce waste, improve productivity and unlock new forms of value. The role of the CEO in adopting AI The first insight is about leadership.
OCTOBER 2026 | www.modernminingmagazine.co.za MODERN MINING 37
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