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Box 13.1 Austmine—a window for the mining industry suppliers Austmine is an industry export group comprising about 130 members supplying mining equipment, technology and services to mining and mineral processing operations worldwide. The Austmine website at www.austmine.com.au offers members information services such as a bulletin board, and provides links to members websites. Austmine members offer a range of goods and services including products associated with: – Consumable supplies and fittings. – Fine coal beneficiation and process control. – Strata reinforcement technology. – Environmental management and rehabilitation. – Hazardous mining environment technology. – Mining systems software. – Mineral exploration. – Gold mining and processing technology. – Alluvial mining and mineral sands operations. – Minerals handling systems. – Education and training. – Contract mining. – Quarrying and aggregate processing. – Mining and processing research and development. – Mining maintenance technology. Source: Austmine. 13.3 Cost savings One of the key areas that e-commerce will continue to be effective will be in the operation of commodity markets, specifically short term clearing markets such as the London Metal Exchange (aluminium, copper, etc.), the London Bullion Market (gold and silver) and other forums for exchange. Indeed, this is already the case, as disintermediation has taken place in the operation of spot markets, the trading of metals is already automated. The Minerals Council of Australia made the following observation: The mining and minerals processing industry is a leader in applying innovation and new technology. Australia has developed this world-class industry by applying innovation and technology to all aspects of its operations, including widespread adoption of e-commerce in the industry. As an example, a large Australian minerals company has recently introduced online trading for nickel and cobalt, a world first for the industry. This initiative is changing the way in which these commodities are traded internationally. In the future, North American customers may only purchase these metals online. The industry can only continue to develop in Australia, in the face of challenging market conditions, by continuing this process of innovation and the widespread adoption of leading edge technology. The continued uptake of e-commerce opportunities will be an integral part of this process. R C Wells, Executive Director, Minerals Council of Australia, 22 December 1999 The benefits of efficient trading markets, in addition to lower transactions costs and better informed decision making, should flow through to better stock control. Improved matching between production and demand can help reduce stockpiles. While commodity price cycles are not expected to disappear altogether, the continuing existence of stockpiles in spite of a 184
etter informed market ensures that the prices will continue to fluctuate. More efficient markets are likely to reduce the size of fluctuations rather than remove them. Use of new technology, such as satellite technology, is already being used may help to lower exploration costs. E-commerce presents a platform for relaying that information and perhaps reducing costs through information sharing. Opportunities for lower billing; payment costs, cost of information transfer, etc. from using online payment mechanisms is already occurring in the industry. On the whole, considering the main business of mining and delivery of mining products, disintermediation is simply not possible for some intermediary functions in the supply of minerals to processors such as drilling and digging tasks and shipping. Although e-commerce may help facilitate these actions, they are not likely to change in nature. 13.4 New costs New costs of e-commerce will be due to re-intermediation in the supply chain, likely to be in the form of technology requirements to link in with global trading forums, establishing or altering existing trading systems, changing information systems, employment of IT personnel, education and training and retraining. These costs are not likely to be large and are likely to be accommodated within the existing medium to long term capital expenditure plans for the sector. 13.5 New business models It is likely that the core of wealth creation in mining is information and making the best use of the information at hand. Finding mineral deposits, identifying when and how to extract them commercially, assessing market conditions and opportunities and managing costs are all information intensive activities. Similar to other industries techniques which enhance knowledge management, including many e-commerce approaches, could assist in boosting the competitiveness of firms in this sector. It will also be a factor separating those that thrive and those that don’t. That said, it is not clear that the greater use of e-commerce in this sector will introduce as profound a change as is expected in other sectors. Largely in response to declining commodity prices and oversupply in global commodity markets, some listed smaller mining companies are undergoing a structural change to reshape themselves into Internet stocks. In a trend known as ‘Backdoor Listing’, these companies are using existing listings to purchase IT start up companies and then relisting as IT companies on the ASX. Two other drivers for this activity are the desire to acquire a slice of the new business and to attract new shareholder funds i.e. issue new shares. Share prices as a result of backdoor listing have increased significantly, in some cases tripled. (See Box 13.2) While there is the expectation that the cyclical nature of the market will make resource stocks profitable again, in the mean time there are returns to be made in technology stocks, and some Australian miners are diverting their activities as they wait for the rebound. 185
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© Commonwealth of Australia 2000 I
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Table of contents Foreword ........
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Part 2 - Case studies Section One I
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Executive summary E-commerce is sti
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Part 1— economic analysis
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Chapter One Study context, aims and
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Within the business-to-business cat
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Table 1.4 Projected growth in econo
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Chapter Two Economic issues What di
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Exhibit 2.1 Disintermediation effec
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Table 2.1 E-commerce impact on vari
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Chapter Three Changes ahead—indus
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Health Significant efficiencies sta
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Chapter Four Economy-wide assessmen
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Direct changes and flow on impacts
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consumption relative to economic ac
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External competitiveness Greater us
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Industry outcomes Greater use of e-
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Food products The food products sec
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people with differing occupational
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Tasmania and the Northern Territory
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Table 4.2 Regional growth and emplo
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The data for country regions (Exhib
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impacts are a reasonable representa
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Chapter Six Policy implications and
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Appendix A Study methodology, shock
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confidence. This is at the expense
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All of the GDP gain generated by ch
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(s11) Saving of particular inputs I
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Table A.1 continued Commodity Per c
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Table A.2 continued Engine & Boiler
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Table A.2 continued Safety Inspecto
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Table A.3 continued Industries 2007
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B.2 The structure of MONASH The cor
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simulations it is assumed that the
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Table B.1 (Continued) MONASH-RR Reg
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C.2 Forecasts for macroeconomic var
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other grains, iron and non-iron ore
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The numbers in column (II) of Table
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Productivity growth over the histor
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forecast of a 0.1 per cent decline
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Productivity growth in the construc
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Employment prospects in the sector
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Table D.1 continued Textiles, cloth
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Table D.1 continued Health, educati
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Table D.2 continued 45 Bags and Con
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Part 2 — case studies
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Industry sectors’ use of e-commer
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e-commerce were chosen. Key questio
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Banking For some time now most of t
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2.3 Cost savings Banks are keen to
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2.5 Changing business modes Branch
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Banks are also looking to take adva
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NAB, as a multinational, is already
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activities such as consumer electro
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Box 3.2 Building a business on e-co
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One of the issues for all industrie
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Box 4.2 Australia Post and e-commer
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Opportunities are being created for
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Value can be transferred into Austr
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Continued use of email and the deve
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E-commerce allows some flexibility
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120
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are introduced to market at a start
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educe the duplication of assessment
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6.3 Cost savings as a result of ele
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The primary e-commerce tools for im
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New service modes and channels to t
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132
Page 146 and 147: This Section will review the implic
Page 148 and 149: of greater depth. (It should be not
Page 150 and 151: consumers watch five per cent less
Page 152 and 153: artist is the promotion which airpl
Page 154 and 155: New costs The fragmentation and reg
Page 156 and 157: gambled. The development of Interne
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Page 160 and 161: Making a purchase over the Internet
Page 162 and 163: Customers who access troubleshootin
Page 164 and 165: they does not actually sell those i
Page 166 and 167: Key points There are few other sect
Page 168 and 169: e-commerce allows quicker order pro
Page 170 and 171: 9.3 New costs The demand for busine
Page 172 and 173: How a ticket is sold, through an ag
Page 174 and 175: Box 10.1 Case study: E-commerce and
Page 176 and 177: The education and training sector h
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Page 180 and 181: 11.2 Production Manufacturing busin
Page 182 and 183: Opportunities for re-intermediation
Page 184 and 185: Value could transfer within the sec
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Page 188 and 189: years’ time. 30 This reflects an
Page 190 and 191: seeks to provide a point of referen
Page 192 and 193: To a small extent, direct selling t
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Page 198 and 199: Box 13.2 Leaving mining sites for w
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