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Analysis:
Analysis
10 Jun 2022
3 minute read

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.

download: Tracking the trends 2022 full report

The top 10 issues shaping the future of mining

Redefining 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 emphasised the need for change. Among them, of course, is the ongoing impact of the COVID-19 pandemic on the world of work, digitisation, 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

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

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

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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.

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

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

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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.

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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 decarbonise, and the current high commodity prices.

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To be more agile and responsive, mining and metals companies must empower every level of their workforce to make decisions.

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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.

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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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Andrew Swart

Deloitte - Canada
Andrew is both the Global, and Canadian Leader of the Mining & Metals practice as well as the Global Leader for the sector. In his Global roles, Andrew leads a team from around the world and has the responsibility to set the strategic direction and go-to-market strategy for the global practice. With 20 years of industry and consulting experience, Andrew has a passion for client service, having worked across many major Mining & Metals geographies including Canada, Chile, Ukraine, Kazakhstan, Brazil, Germany, India, South Africa, UK, and the US. Andrew’s areas of expertise include corporate and competitive strategy engagements, digital and innovation systems and large organizational transformation programs.
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