In 2015, the global mining industry continued to face numerous challenges. At the same time, however, innovative impulses driven by market changes have also brought new vitality to related enterprises. This report examines emerging trends in the mining industry over the coming year from multiple perspectives and provides mining companies with practical and actionable strategies for responding to these trends.

The report lists the top ten trends and corresponding solutions, including:

1.  Back to Basics: Pursuing Operational Excellence — To strengthen operational excellence, mining companies must rethink their traditional operating processes and define costs from a cultural perspective.

2.  Innovation is the new key to survival—not just about cost control. — Mining companies must overcome their traditionally conservative tendencies and embed innovation into the very DNA of their enterprises; take a long-term view, start with small-scale trials, and scale up rapidly; leverage emerging technologies; integrate into innovative ecosystems; and prepare to embrace a new operational reality.

3.  New energy model: Reducing project electricity costs — Mining companies should consider new energy solutions, including the use of non-traditional fossil fuels, and seek stakeholder support for developing renewable energy facilities.

4.  Streamline project processes: The balance between supply and demand is in jeopardy. —To avoid future supply constraints, mining companies need to strike a better balance, going beyond merely meeting the short-term expectations of investors and analysts, in order to ensure the healthy development of their projects.

5.  Financing is becoming increasingly difficult: the impact is spreading throughout the entire market. —Although the available response options are limited, emerging mining companies can still address their increasingly challenging financing issues by attracting foreign investors, forming resource partnerships, exploring alternative financing channels, and pursuing private equity financing.

6.  The Survival of Junior Mining Companies: Thriving Amidst the Whirlpool —To take advantage of the changing ownership models, junior mining companies should take steps to streamline their assets and explore various possible solutions, ranging from partnerships and joint ventures to divestitures and consolidations.

7.  Seeking New Skills: Transforming Industry Norms to Attract a New Generation of Talent — To attract new tech talent to the industry, mining companies need to commit to diversity and inclusion, develop new talent management systems, enhance their competitiveness in recruiting top talent, and invest in more targeted training programs.

8.  Navigating Geopolitical Uncertainty: From Optimal Budgeting to Embracing Uncertainty —The response strategy includes further clarifying relevant policies through lobbying and leveraging the mining association’s influence to help the government formulate industry-specific policies, with the aim of mitigating industry risks and enabling multi-scenario planning.

9.  Stakeholder engagement is becoming increasingly important: Mining companies are making great efforts to reconcile conflicting interests. — Mining companies should establish win-win platforms, adopt new communication methods, harness the power of social media, engage in consultations with local communities through mining associations, strengthen corporate social responsibility initiatives, and consult with stakeholders from affected communities to develop mine closure plans.

10. Close collaboration with the government: Seeking new ways to communicate and cooperate. —Strategies for addressing regulatory uncertainty include: building stronger relationships with the government, actively speaking out through mining associations and social media, enhancing social impact, helping to shape policy, and further leveraging mobile technology.

(Source: Deloitte Consulting)