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Tracking the trends 2022

Redefining mining

What lies ahead for the mining industry in 2022? Explore the top 10 trends that will shape the industry in the next 12-18 months.

The top 10 issues shaping the future of mining

The next decade will witness some of the most exciting and transformative years in the mining industry’s history. What will successful mining and metals companies look like in a low-carbon, low-waste, purpose-driven future?

A convergence of factors have emphasized the need for change. Among them, of course, is the ongoing impact of the COVID-19 pandemic on the world of work, digitization, and the growing need to integrate environmental, social, and governance (ESG) commitments with central business functions. But the biggest underlying driver and opportunity for transformation lies in the green energy transition.

Change on this scale is daunting, which is why, in its 14th year, Tracking the trends has focused on effecting transformation. The following 10 mining industry trends provide a toolkit to help companies not only profit from whatever the future might bring, but to leave a positive social impact as their legacy.

Explore the 2022 trends

Aligning capital allocation to ESG:
Creating an advantaged portfolio with an ESG lens

Companies should think holistically and ensure their capital-allocation decisions reflect their ESG commitments.

Reshaping traditional value chains:
Laying the foundations for a low-carbon future

The energy transition is reshaping the traditional mining value chain creating new challenges and opportunities for miners.

Operating in the new super cycle:
Navigating the post-COVID regulatory and tax environment

With commodity prices soaring in 2021, many countries are looking to regulations and resource nationalism to recoup lost revenue during COVID-19. Companies should learn how to operate in this new environment by demonstrating their value beyond tax—including their ESG efforts—to governments.

Embedding ESG into organizations:
Creating operating models to support ESG commitments

Mining and metals companies should be functionally set up to respond to and address ESG-related opportunities, challenges, and risks.

Evolving mining’s world of work:
Positioning organizations for an increasingly competitive labor market

Facing an increasingly competitive labor market requires mining and metals companies to position themselves as an attractive sector and employer, capable of meeting evolving priorities.

Establishing a new paradigm for Indigenous relations:
Creating partnerships for progress

Indigenous communities around the world are often keen to establish a new type of understanding and connection with mining and metals companies that participate in their environment. When planning new projects, mining companies should look for opportunities that align with local communities’ own goals and priorities.

Continuing the journey towards innovation-led organizations:
Moving to action by embracing the change

Now more than ever mining and metals companies need to innovate in light of some key recent developments: new remote work practices, the drive to decarbonize, and the current high commodity prices.

Unlocking value through integrated operations:
Using data to drive the long view

Mining and metals companies should make better use of digital transformation to drive effective integrated decision-making. This is more important than ever as the current heightened focus on ESG measures has placed pressure on companies to manage not only their operational environment, but also social and regulatory challenges.

Closing the IT-OT vulnerability gap:
The next frontier in cybersecurity

Mining companies’ cybersecurity has traditionally focused on functions like finance or human resources rather than on the ground at mine sites. However, with more devices being connected, some of the industry’s biggest cyber vulnerabilities are around operational technology.

Preparing operations for climate change:
Managing physical risks through digital insights

Mining companies should prepare for the physical impacts a warming climate can produce across their businesses and operations as well as beyond their own sites.

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