Top 10 business risks and opportunities for mining and metals in 2022 – by Paul Mitchell (EY Global Mining & Metals – October 7, 2021)

Disruption is fast reshaping the mining and metals sector’s perception of where the biggest challenges – and paths to growth – may lie, according to our annual review of risks and opportunities in the global mining and metals sector (pdf).

The climate crisis and rising stakeholder expectations are increasingly significant forces of change. Environment and social took the number one spot in our rankings for the first time, followed by decarbonization and then license to operate (LTO), which had held the top position over the past three years.

Two new entrants to the ranking – uncertain demand and new business models – highlight the ongoing volatility in a market still impacted by the COVID-19 pandemic. Still, we see more opportunities than risks for miners willing to make the transformational changes that can drive long-term value for organizations and the communities they serve.

Trend 1: Environment and social

Miners that can demonstrate their contribution to a sustainable future will have a competitive advantage.

As environmental, social and governance (ESG) factors become a bigger priority for investors, shareholders and a broader group of stakeholders, miners are doing more to integrate ESG into corporate strategies, decision-making and stakeholder reporting.

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