Canada's Mining Companies Can Take Steps Now to Improve Their Prospects in the Longer Term: Deloitte Report
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/29/12 -- Canadian mining companies should be investing now to ensure they can fulfill future global demand for commodities even as they face a series of immediate challenges affecting the global mining sector, according to a new report from Deloitte that was released today. The report, Tracking the trends 2013, provides commentary and analysis of the top 10 issues most likely to impact the mining sector in 2013 and provides a range of responses that companies can adopt to prepare for shifting industry dynamics.
According to the Deloitte report, now in its fifth year of distribution, miners need to set a solid strategic direction and hold the course amidst shifting industry realities in order to prosper when global demand for commodities rebounds in the longer term. Beyond finding ways to control costs and improve their demand forecasts, Canada's mining companies should be preparing for increased mergers and acquisitions activity in 2013, strengthening their relationships with local governments in order to minimize the impact of growing resource nationalism in various countries and finding innovative ways to cope with a looming skills shortage. They also need to expand their use of information technology and data analytics to enhance safety, improve operations and reduce costs.
"For the second year in a row, mounting costs tops the list of the key issues affecting the mining industry," said Glenn Ives, Americas Mining Leader, Deloitte Canada. "This is expected to worsen in the short term as commodity prices continue to dip, workers demand higher wages and regulatory costs rise. But rather than halting production in the face of shareholder demands for more immediate returns, miners should be making investments today to meet the expected long-term demand for commodities."
"This continues to be a challenging environment for mining companies, in Canada and around the world," said Jurgen Beier, National Mining Leader, Deloitte Canada. "By focusing on some key areas, such as combatting corruption, enhancing corporate social responsibility practices and making increasing use of information technology and data analytics, companies can improve their prospects when global demand inevitably rebounds."
According to the Deloitte report, these are the top 10 issues for the mining sector in 2013, along with some of the things companies can do to mitigate them:
The Deloitte report concludes that mining companies that proactively resolve these endemic issues will be better able to meet future commodity requirements despite today's volatile conditions and are likely to increase their role in the advancement of local communities, support of undeveloped economies and growth of jobs and skilled talent around the world.
To view the report, please visit .
About Deloitte
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting and financial advisory services through more than 8,000 people in 56 offices. Deloitte operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Contacts:
Hill+Knowlton Strategies
Mary Warner
416-413-4761
Deloitte
Vital Adam
Senior Manager - Public Relations
514-393-5281
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Datum: 29.11.2012 - 11:00 Uhr
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