Categories: General Market Commentary
Topics: General Market Commentary

Mining companies need to become disruptors – Deloitte

JOHANNESBURG (miningweekly.com) – The key to a future in the mining sector increasingly lies in overcoming innovation barriers, embracing digitisation and unlocking the workforce of the future, as well as anticipating the digital mine of the future, Deloitte Global’s latest mining report shows.

Deloitte Touche Tohmatsu’s tenth yearly mining report, titled ‘Tracking the trends’ forecasts a continuation of rapid change in the industry, with mining executives doubling as futurists and predicting and anticipating the disruptors of the future — from growing demand for lithium for use in electric vehicles to potentially mining asteroids for rare metals with the advent of a viable deep space industry.

“To thrive in the mining industry’s historical boom and bust cycle, and capitalise on new opportunities, companies must rethink the traditional mining model,” said Deloitte Global Mining leader Philip Hopwood.

For mining companies, turning disruption into opportunity requires a long-term view that assesses how emerging market trends may affect the demand for specific commodities.

“The mining industry must focus on driving ongoing investments in innovation and digitisation, inspiring their approach to the workforce of the future, manifesting in their commitment to strengthen government and community relations, and guiding their efforts to repair their public image,” he explained.

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