Mining sector poised for growth amidst rapid change and disruption in 2018


12 February 2018

Deloitte: As operational realities in mining have shifted irrevocably in the face of a digital revolution, so 2018 will be a year of rapid change in an industry that is poised for growth, according to the latest edition of Deloitte’s annual Tracking the Trends mining report.

Now in its tenth year, the report has followed the mining sector over the past decade as commodity prices reached both historic highs and lows. After hitting the bottom of the cycle, this year’s report identifies strategies companies can take to smooth out the recovery and explores the potential industry disruptors on the horizon.

“To thrive in the mining industry’s historical boom and bust cycle, and capitalise on new opportunities, companies must rethink the traditional mining model,” says Ian Sanders, Deloitte National Mining leader. “Profound change takes time. To change for the better and pave new paths for the future, 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.”

Commodities of the future - predicting tomorrow’s disruptors

Turning disruption into opportunity requires a long-term view capable of assessing how emerging market trends may affect the demand for specific commodities.

“Looking back just 20 years, it would have been hard to believe that nickel, lithium, cobalt and graphite would be an affordable way to power batteries. But, today that is the reality and a potential growth opportunity, particularly with the emergence of electric vehicles,” says Deloitte Consulting Mining Leader, David Cormack. “And although asteroid mining for rare metals still sounds like science fiction today, the market potential in the not-too-distant future could be huge. If mining companies want to get ahead of the trends, they need to delve deeply into emerging market disruptors.”

Additional trends identified in Tracking the Trends 2018, include:




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