James Thompson

It's a huge logistical challenge.

I mean, mining's sort of about digging rocks.

It's more about moving materials and people around the country.

And this is one of 18 mines that Rio has in the Pilbara.

To get a little glimpse of how it works was absolutely fascinating.

Was it hot?

No, we were very lucky.

We were there in perfect conditions, you know.

It was actually a little chilly to start the day and then the sun came out and you thought, oh, how nice is this?

And everyone quickly told us about the days where it gets to 45 degrees and you're on a 12-hour shift.

Oh, man.

They earn their money.

That's absolutely for sure.

Anthony, let's get back to the big story about mining.

One of the stars of the summit was Olivia Markham, who grew up in Perth and now manages about $10 billion US in mining funds at BlackRock.

And her message was quite nuanced.

She's never been more excited about investing in mining.

And that's, as you said, due to all this massive demand for commodities that are part of the AI boom and the energy transition, even the defense spending boom that's going on around the world.

But

Interestingly, her view was that some mining companies are too small to grab the attention of generalist investors, particularly in the US.