Almost everyone in our industry has an opinion on how big companies should run exploration.
We criticise them for being too risk averse, not moving quickly enough and "why can't they do it like it was done in the past". Some of these criticisms might be justified. But comparing these modern groups to the past is a fallacy. We have not seen companies the size of BHP, Rio Tinto or Vale before. These companies have to do things differently. They have to continuously figure out how to fit into the corporate structure of these multi-billion dollar companies, how to provide value to the overall company, and most importantly, they have to be run like a business. Maybe it's time we have an honest conversation on what works and what does not when it comes to running exploration groups in major mining companies.
Our guest today is Steve McIntosh, Group Executive for Growth and Innovation at Rio Tinto, and who has been involved in managing exploration activities within the company for the past few decades.
Exploration Radio are the official podcast partner of the International Mining and Resources Conference + EXPO (IMARC).
This post originally appeared on Exploration Radio and has been republished here with permission.