A Look at the 10 Mining Trends That Shaped 2020
The year that was (and still is) 2020 hit Australian and global economies hard. Yet, it had almost an entirely different effect on the Australian mining industry.
As a primary industry and contributor to the health and wealth of the Australian economy, the mining sector provides attractive export income, royalty payments and not to mention plenty of employment.
Today we will explore and define the research and trends identified by our friends at Deloitte.
Want to have a look at the mining trends that shaped the strange and uncertain year of 2020?
Read more from the Perth safety and emergency training specialists at SETS Enterprises to find out.
1. Social investment
In theory and practice, strategic social investments in communities should create value for both the beneficiary and the investor.
What does this mean?
Social investment puts value beyond compliance and a focus on sustainability.
2. Finetuning partnerships and joint ventures
This equates to working together for a common goal and opening and furthering the lines of communication.
3. Seizing opportunity amidst uncertainty
2020 was the year to take a step back and see the bigger picture.
There’s no better time for miners, other workers and investors to prepare for the next downturn than right now.
4. Dynamic risk management
Not everyone gets it right all the time. Yet strategic risk management will ensure risks are lowered, crises (mostly) averted and concerns are raised.
Risk management in mining should be ever evolving to meet new and never before seen situations.
5. An ever-increasing sustainability shift
Decarbonisation and reducing emissions is a positive trend towards our mining and country’s economic future.
6. Working towards intelligent mining
Lessons learned is a one-way track towards new, innovative and intelligent mining solutions for now and into the future.
7. Continuous modernisation of vital technologies
How can cyber, Cloud and information technology systems better the mining sector? How can the technology be a mixture of easily accessible, have ease of use and still be state of the art?
Technology, tools and equipment are of great necessity in the Australian mining sector.
8. Where talent meets the community
How to attract and retain valuable mining talent from the community through digital platforms.
9. The need for transparent, cohesive leadership
Proactive planning for positive leadership for the management of future mining workforces.
10. Tax strategies
Miners were thrust into the spotlight due to some transfer mispricing. This involves manipulating markets and/or deceiving tax authorities.
Not every miner is guilty of doing this, but it was enough to be an issue that needed to be addressed.
The key 2020 mining takeaways
What we can learn from the mining trends of 2020 is its resilience, resourcefulness and the Australian economy’s reliance on it.
If you’re in the mining sector, or planning to be, you need safety and emergency training in Perth to ensure you stay vigilant, efficient and safe on the worksite.
All this and more can be done with SETS Enterprises.
Contact SETS Enterprises today for the peace of mind of safety training covering various industries, including the mining sector.