The Mining Matrix: renewing pride in the mining industry

Article image here if available (delete this line if no images)

31 August 2018

Deloitte: The mining community needs to educate, communicate and collaborate across the entire ecosystem of government, educators, the community, employees, customers, shareholders and other stakeholders in order to turn around the image of mining, according to a new paper from Deloitte.

Launched at the 2018 Diggers & Dealers Mining Forum today, The Mining Matrix explores how interconnecting four core industry trends: innovation, digital transformation, the Future of Work and the image of mining, can help to restore pride in the industry. Identified as shapers of mining for the year ahead in the annual Deloitte Tracking the Trends report, these four trends can also provide a pathway for the industry to maintain its focus on growth and increased productivity, says Nicki Ivory, Deloitte’s Western Australia mining leader.

“Mining has long been the backbone of the Australian and West Australian economic and societal landscape, and yet for the past decade, its image has been in decline.

“Stock price underperformance relative to other stocks, fractious community relations, legacies of weak environmental practices, and a historical lack of workforce diversity have all tarnished the reputation of the mining industry,” she explains.

Ivory adds: “We need to communicate clearly the extent of innovation across the mining industry in Australia, the value digital disruption is already delivering in the sector, and the positive impact of the Future of Work on roles and jobs across the mining value chain.

“We need to educate society of the value the industry delivers, and what more it can deliver in the future. We need to educate our potential employees of the future – the young students of today – in what the industry can offer; and we need to educate ourselves on their desires, needs and wants.

“As a mining industry we need to collaborate more in areas of critical importance across the industry – areas such as skills and reskilling; the image of our sector; development of IP to bring about positive step change for the industry; and maintaining and enhancing our social licence to operate.”

Ivory explains each trend and how they interconnect in more detail:

The sector has the opportunity to reframe the conversation across society on the importance of mining. Not only the economic importance to Australia, but also the daily importance to a society which depends heavily on products that would not exist without mining, from smartphones to bridges, health technology and electric vehicles.

The Mining Matrix, https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/mining-matrix.html

Deloitte Tracking the Trends, https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/tracking-the-trends-2018.html

 

--ENDS--

 

Source:  Deloitte - www2.deloitte.com

Contact: Nicki Ivory Partner, Corporate Finance +61 8 9365 7132

External Links: 

The Mining Matrix, https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/mining-matrix.html

Deloitte Tracking the Trends, https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/tracking-the-trends-2018.html

Recent news by:  Deloitte

 

ONLINE PROFILE