11 Mining Global stories you don't want to miss this week
The news factory in the mining sector was churning this week with an assortment of global stories hitting the Internet. We bring you the best stories from this week (6/13-6/19).
2. Canadian magazine Maclean unveiled its annual Top 50 Most Socially Responsible Companies in Canada list with five mining companies making the list.
3. The FBI is looking further into the Liebherr Mining lawsuit which accuses several former workers of trade secret theft.
4. Anglo American is selling two of their copper mines -- Mantos Blancos and Mantoverde -- in Chile. Will Mick Davis finally make his first deal or will another company like Glencore acquire it?
5. We reveal the top 10 producing gold mines in the world through photos.
6. The soon-to-be world’s largest coal mine is going to be supplied with Komatsu mining equipment.
7. Coal remains the top export in New South Wales, Australia.
8. Global credit ratings agency Fitch hits Rio Tinto, BHP Billiton and Anglo American with negative ratings outlook.
9. A new report says Canada’s mining sector is going to be hit with an enormous labor shortage in coming years. How will the industry be affected?
10. While the coal sector continues to experience a downturn, Redpath Mining has a vision for its future.
Deloitte predicts industry transformation - Tracking the Trends 2019 report
Deloitte has published the eleventh edition of its annual report on the mining industry. Tracking the Trends identifies the top ten trends transforming the future of mining in 2019
The Deloitte report endeavours to provide the mining industry with insights it can leverage to support its continued quest for productivity, capital discipline, strategic development and sustainable growth.
Philip Hopwood, Deloitte’s Global Leader - Mining & Metals, commented: “It appears that the mining industry is poised for greater growth than it’s seen in a decade, but today’s market realities are very different than those of the past. We’re now dealing with geopolitical tensions in the form of trade wars and tariff concerns, as well as looming asset shortages. Rising commodity prices should fuel expansion, but could also result in a return of inflation and the costs that go with it, eventually eating into margins.
Disruption and volatility has become the new normal and the pace of change is outpacing our ability to adapt. This makes it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again.”
Here are the key messages provided by the 2019 report:
- Disruption and volatilitymake it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again. To thrive into the future, mining companies will need to challenge the status quo by soliciting a diversity of opinions and taking the risk to do things differently.
- Technology and artificial intelligence (AI) will play a key role, not only in helping companies envision future scenarios, but in identifying risks at an enterprise level and transforming the supply chain. Moreover, advances in finance platforms, sensor technology, autonomous vehicles, cloud- based solutions, and analytics are paving the way for the design of a digital mine.
- Understanding the needs and perceptions of people both inside and outside the organization will be critical. Companies must build a more diverse workplace and address succession planning, while fostering loyalty and retention among existing employees. At the same time companies must do more outreach to local communities, governments, and consumers so they can be more transparent and receptive.
Top Ten Trends Transforming the Future of Mining:
- Rethinking mining strategy - Embedding the discipline to deliver measurable value across the cycle
- The frontier of analytics and artifcial intelligence- Moving up the maturity curve
- Managing risk in the digital era - Exploring a new approach to controls and risk management
- Digitizing the supply chain - Why innovation requires integration
- Driving sustainable shared social outcomes - Finding value beyond compliance
- Exploring the water-energy nexus - Making the case for a systematic approach
- Decoding capital projects - Learning from past mistakes
- Reimagining work, workers, and the workplace - A blueprint for the future
- Operationalising diversity and inclusion programs - From theory to practice
- Demanding provenance- EVs and battery minerals provoke the desire for provenance