The world needs mining, but mining is broken. Mining companies today face a complexity of problems: spiraling costs, government intervention, deepening pits, lower ore grades, lack of community trust, and declining productivity are just some of the issues.
A diverse group of leaders has created a vision to help mining shape its destiny. View the KIN Catalyst vision for the Mining Company of the Future
In 2012, a diverse group of global leaders met at the KIN Catalyst conference in Brazil. With representation from business, academia, nonprofits and government, the group convened and collaborated to discuss the look of the Mining Company of the Future.
Participation in the discussions came from a range of stakeholders. Mark Cutifani (CEO of Anglo American), Ray Offenheiser (President of Oxfam America), and Peter Bryant (Parner at Clareo) all co-chaired the discussions. There was also representation from organizations such as Vale, AngloGold Ashanti, The Ford Foundation, Harvard University, Global Indigenous Solutions, and many other organizations.
Together, these different parties identified a set of priorities that could help shift the industry. The consensus was that mining needs to change proactively in order to design their own destiny – or someone or something else will.
Mining companies today face a complexity of problems: spiraling costs, government intervention, deepening pits, lower ore grades, and declining productivity are just some of the issues. Communities are not trusting mining, and this creates additional uncertainty. It is harder to find and start a mine than ever before. Combine this with today’s capital environment and struggling commodity prices, and it creates a very difficult picture.
Since the KIN Catalyst conference in 2012, the working group has developed a much more extensive framework for mining companies, called the Development Partner Framework (DPF). This framework is outlined in the above infographic. If you are looking to get involved, the organization can be contacted at [email protected].
What do you think? Is this vision possible – and what are the biggest challenges facing the industry?