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As the industry shifts into a new stage of growth, miners must take an ever-expanding range of issues into account when setting corporate strategy.
Toronto, February 4, 2019—Released today, Deloitte’s 11th annual mining report, Tracking the trends (https://www2.deloitte.com/ca/en/pages/energy-and-resources/articles/tracking-the-trends.html), explores key trends facing mining companies as they navigate how to operate in a market characterized by constant disruption in the Fourth Industrial Revolution.
“The mining industry is changing faster than ever, resulting in both greater growth potential, as well as more disruption and volatility than in years past,” says Andrew Swart, Deloitte’s Canadian and Global Consulting Leader, Mining & Metals. “In today’s climate, miners must focus on differentiating their business models to generate long-term value, not only to attract investors, but also to remain successful in the communities in which they operate.”
Rethinking mining strategy
In the past, mining companies typically anchored their strategic planning around producing the highest volumes of ore at the lowest possible cost. This led to the drive to build ever-larger mines in pursuit of superior returns, underpinned by the expectation of constantly-rising commodity prices. Although that bubble has long since burst, many mining companies are still grappling with its strategic legacy. Continue Reading →