Goodyear, speaking on the importance of new technologies to BHPB's business at the opening of a global technology centre in Perth today, singled out work underway in Chile that could double metal recoveries as of critical importance to the copper market in the future.
"We're doing a project in Chile now that may double recoveries and change the price of copper and if it does, it will allow that product to be supplied to more people around the world," he said.
BHPB operates the giant Escondida copper mine in northern Chile and is currently assessing the $US1.1 billion ($A1.4 billion) Spence project in the country. Spence is expected to produce 200,000 tonnes of copper cathode per annum.
Copper closed overnight at $7815 per tonne, having been at less than $3600/t just over 12 months ago. The long-term copper price has often been pegged by analysts at little more than $2300/t, though many have been shifting that closer to $3000/t in recent times.
Goodyear also praised the advancement of automation in vehicles and machinery, an issue also raised by Rio Tinto Iron Ore chief executive Sam Walsh in a speech in Perth on Tuesday.
Goodyear also pointed to the recent adaptation of the company's FALCON gravity surveying technology to helicopters, allowing greater mobility and faster surveying for gravity anomalies in exploration.
He said the advancement of mathematical modelling and computer technology in the area of mine planning had been an "integral part" in BHPB's mining operations.
Goodyear and Western Australian Premier Alan Carpenter officially opened in Perth one of three global technology centres run by BHPB. The remaining centres are in Newcastle in New South Wales and Johannesburg in South Africa.
The three centres represent a total annual investment of $100 million, according to BHPB.
Goodyear said with more than 20% of BHPB's global assets located in WA, the centre will have a critical role to play in the company's future.
"Technology wins this game," he said.
The centre currently boasts a workforce of 40 and Goodyear said the company aims to increase this number to 100 in the coming years.
In his speech, Goodyear said he believes the developed world takes its high standard of living for granted and has forgotten the important role the resources sector plays in the modern world.
"The developing world has not forgotten how important the resource sector is," Goodyear said.
"There's not an example of sustainable economic development that has occurred without resources.
"There are 4 billion people around the world that are trying to strive for the kind of life that we have and that requires metals and energy.
"That has to come at a reasonable price … and that's where technology comes in," he said.
