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KPMG Mining Risks and Opportunities Summary (Outlook 2019)

Core Content Overview

This report by KPMG outlines the key risks and opportunities facing the global mining industry in 2019, based on a survey of over 130 mining executives from Canada, Australia, Brazil, and South Africa. The findings emphasize the increasing complexity of the industry landscape, driven by economic and political uncertainties, technological transformation, and social and environmental expectations.

Key Risks in the Mining Industry

Top 10 Risks (2019)

The survey identified the following as the top risks for the mining industry:

1. Commodity prices
2. Permitting
3. Capital access
4. Community relations and social license to operate
5. Economic uncertainty
6. Political risk
7. Access to talent
8. Environmental regulations
9. Regulatory compliance
10. Technology adoption and disruption

Changes in Risk Rankings

• Access to talent moved into the top 10, up from 11 in the previous year, due to increased competition for specialized skills and the need for digital expertise.
• Control of capital costs dropped from risk number 5 to 12, likely due to reduced capital spending in recent years.
• Commodity price risk was higher for base metals than for precious metals, possibly due to concerns over the Chinese economy.
• Regulatory, compliance, and environmental risks were more pronounced for precious metals compared to other metals.

Key Opportunities for Growth

Confidence in Growth

• 66% of respondents expressed confidence or very confidence in their organization's growth prospects over the next 12 months.
• Executives were more optimistic about their own organization's growth than the industry as a whole.

Growth Strategies

1. Organic growth: Companies are focusing on optimizing operations and improving efficiency.
2. Innovation and technological transformation: 29% of respondents plan to use innovation and technology for growth, and 37% expect major disruption in the next three years.
3. Mergers and acquisitions (M&As): M&A activity is rising, with examples like Barrick Gold's merger with Randgold and Newmont's acquisition of Goldcorp.
4. Joint ventures and partnerships: Collaborations with customers, suppliers, and even competitors are becoming more common to drive growth and secure breakthroughs like autonomous technologies.

Technological Innovation in Mining

Investment in Emerging Technologies

• Data and analytics tools (53%), autonomous vehicles (30%), and robotic process automation (29%) are the top areas of investment.
• Digital transformation is expected to provide a $190 billion benefit to the industry, with pilot programs involving drones, advanced visualization, remote rock-breaking, and underground sensors.

Case Study: Rio Tinto

• Rio Tinto uses autonomous haulage systems (AHS) to transport ore and waste, resulting in 700 hours more operation time and 15% lower unit costs for driverless trucks.
• Technology is viewed as an opportunity, with 73% of respondents seeing it as more beneficial than a threat.

Regional Highlights

Brazil

• Political change/uncertainty ranked 7th, with the election of Jair Bolsonaro expected to bring deregulation and a more business-friendly approach.
• The new Mining Code allows mining titles to be used as financing guarantees, opening up 20,000 exploration areas.
• The Brumadinho disaster has intensified focus on environmental licenses and community relations.

South Africa

• Regulatory changes and social license to operate are top risks.
• The new mining charter requires a minimum 26% BEE shareholding for existing mines and 30% for new ones, aiming to provide more certainty and support local ownership.

Canada

• Access to capital and commodity prices are among the top three risks.
• Permitting remains a key challenge due to increased regulation and scrutiny, especially in socially and environmentally sensitive areas.

Australia

• Social license to operate, productivity, and access to talent are the top three areas of focus.
• Macro-economic instability is a significant risk, though the market has adapted to this environment.

Talent Management and Workforce Evolution

• The ability to manage an evolving workforce is ranked as the number one capability needed by mining companies.
• Companies are adopting cloud-based HR systems, data analysis, and real-time digital learning to attract and retain talent.
• Digital talent is in high demand, increasing competition with less volatile industries like tech (e.g., Google).

Conclusion

The mining industry is navigating a landscape of increasing risks and transformative opportunities, particularly in technology adoption, collaboration, and regulatory changes. Despite uncertainties, the sector remains confident in growth, driven by innovation, strategic partnerships, and effective talent management. The report underscores the importance of proactive risk management and strategic adaptation to thrive in this dynamic environment.

Key Contacts

• Trevor Hart – Global Head of Mining, KPMG Australia
  T: +61 8 9263 7110
  E: chart@kpmg.com.au

• Caron Sugars – Partner, KPMG Australia
  T: +61 8 9263 4850
  E: ccobargsugar@kpmg.com.au

• Ricardo Marques – Partner, KPMG in Brazil
  T: +55 31 2128 5570
  E: rmmarques@kpmg.com.br

• Heather Cheeseman – Partner, KPMG in Canada
  T: +1 416 777 3314
  E: hcheeseman@kpmg.ca

• Coenie Basson – Partner, KPMG in South Africa
  T: +27 83 302 3005
  E: coenie.basson@kpmg.co.za

Additional Information

• Publication: Risks and opportunities for mining
• Publication number: 136090-G
• Publication date: February 2019
• Website: kpmg.com/mining
• Social media: kpmg.com/socialmedia
• Report source: www.baogaoba.xyz – 獨家收集 百萬報告 实时更新 日更千篇

Summary of Key Findings

• Risks include commodity prices, permitting, capital access, community relations, economic uncertainty, political risk, access to talent, and environmental compliance.
• Opportunities involve technological innovation, M&A activity, strategic partnerships, and improving workforce management.
• Regional differences highlight varying priorities, with Brazil focusing on deregulation and environmental compliance, South Africa on BEE requirements, and Canada on capital access and permitting.
• Technology is seen as a major enabler of growth and efficiency, with autonomous systems and data analytics playing a crucial role.
• Confidence in growth remains strong, with 73% of respondents viewing technological disruption as an opportunity rather than a threat.