In the face of rapid change and growing challenges, the metals and mining industries stand at a crucial juncture.
KPMG's 2024 Global Metals and Mining Outlook offers key insights into how industry leaders can navigate the complexities of decarbonisation, achieve operational excellence, and drive sustainable growth.
More than 450 C-level mining and metals executives provide their perspectives on the industry's most pressing challenges and opportunities, from accelerating technology investments to overcoming skills shortages.
Discover the latest strategies, opportunities, and trends shaping the future of mining and metals industries.
Key findings from the report
Transforming operations and carbon usage in mining and metals
As mining and metals companies pursue the objective of attaining net-zero carbon emissions by 2050, transforming operations and transforming carbon usage must become increasingly intertwined.
KPMG's report found that, over the next five years, executives in the mining and metals industry see the biggest business opportunities in transforming their companies' carbon footprint and enhancing cost efficiency of operations through technology investments.
By embedding carbon reduction goals into every aspect of the business, companies can unlock new growth opportunities and reduce costs through improved operational efficiency.
This year’s KPMG Global Mining and Metals report shares the thinking of over 450 industry executives and personal reflections of 6 mining leaders. It delves into critical areas such as decarbonisation, Australia’s innovative efforts in this space, increasing market pressures, technology development, and the human element. The report presents a thorough analysis across a number of key questions, offering KPMG’s insights, key messages and guidance on how we can help Australian mining businesses navigate these challenges and drive sustainable growth.
Trevor Hart
Global Mining Leader | Partner, Audit & Assurance
KPMG Australia
Key points for Australian mining and metals leaders
In Australia, workforce planning for major mining companies in remote locations is a priority. As is the increasing use of new technologies. If mining companies are to maximise their investments in the latest technologies, the workforce needs the necessary skills.
To attract skilled workers, mining companies must identify key skill requirements and develop strategies to appeal to these professionals effectively. Many mining and metals companies are finding that improved ESG practices and investing in a workplace culture focused on safety and purpose are helping to attract skilled workers to the industry.
Other key learnings from the report include:
- How to transform operations by redesigning processes to reduce carbon usage and increase efficiency.
- How advanced technologies, including artificial intelligence and machine learning, can help drive operational transformation and reduce carbon emissions.
- Understand how to adapt to unprecedented price volatility and supply chain disruptions while maintaining confidence in their growth prospects.
- Strategies that companies use to attract and retain the talent needed to drive their sustainability and digital transformation agendas.
- How geopolitical shifts, regulatory changes, and market dynamics are impacting the mining and metals sector.
Watch: KPMG's Global Metals and Mining Outlook 2024
Global Metals and Mining Outlook 2024
Strategies for decarbonisation and operational excellence.
