FINANCE FORUM
There is also more scrutiny of mining from end-consumers, who
demand a transparent and ethical supply chain. As complex and
difficult as it is to manage the social licence issue, failure to do so
is becoming increasingly fatal in the mining space.
EY’s second risk is also worth noting, as it has catapulted up
from seventh position last year: the future of the mining sector’s
workforce. This is a reflection of the growing impact of digital
and technological innovation in the sector. It is grappling with
what its future workforce might look like and wondering where
the necessary skills are best procured.
This innovation has the potential to improve productivity, safety
and environmental management in mining, but the skills to
drive it come at a cost – in terms of both time and money. Will
they be built up from the inside, or will they be bought – and are
they affordable – on open market?
These are among the many questions facing decision-makers
as we prepare for another year in the demanding but essential
business of extracting minerals.
Joe Keenan is managing director of blasting specialists BME.
Please note that this article was written before the outbreak of
COVID-19, more commonly known as coronavirus – which has
subsequently unsettled markets and the outlook considerably.
However, we believe the markets will stabilise within six
months, so Keenan’s outlook will remain the same.
of elections and government changes has meant political
uncertainty and volatility in the commodity markets, they argue.
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