Mining industry at risk of shirking big challenges

THOUGH the mining industry acknowledges it is facing some huge challenges, industry leaders appear unwilling to tackle these head on at a company level.

Mining industry at risk of shirking big challenges Mining industry at risk of shirking big challenges Mining industry at risk of shirking big challenges Mining industry at risk of shirking big challenges Mining industry at risk of shirking big challenges

That's according to an industry-wide survey that asked respondents to rank separately the greatest threats and opportunities as relevant to the industry overall, and then to their specific companies.

The greatest threat to the industry was reputation/social licence, followed closely by a lack of exploration success/budget. This reflects the increasing difficulty presented by more sophisticated stakeholder engagement requirements and the lack of near-surface targets in palatable jurisdictions, respectively.

Lack of growth was at number three and speaks to the current transition from the cost-cutting phase of the recovery. Investors are again demanding growth but, like exploration success, the necessary investment has not been put in place to deliver results. Concerns o...