Tracking the Trends 2018
The 2018 edition of Tracking the trends will mark the tenth year of release. Deloitte examines the top 10 trends that should be on mining companies’ agenda in 2018.
Over the past decade, commodity prices reached both historic highs and historic lows, mining companies engaged in both significant acquisitions and consolidation, and operational realities shifted irrevocably in the face of a digital revolution. For an industry considered staid, change has been surprisingly constant. However, unlike previous cycles, mining companies appear to have learned from the lessons of the past. In paving new paths for the future, the aim now is to change for the better.
In this tenth anniversary report, Deloitte’s global mining professionals once again share their experiences to help identify strategies mining companies can take to smooth out the recovery and minimise the industry’s historical boom and bust cycle. This year, our professionals also share their “best guess outlook” for the future by identifying 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.”
“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.”
Download the full report below.