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Top Mining | Verdant Horizons Ltd


 

1) The Surging Commodity Prices

With global commodity prices at an historic high level, many companies are opting to ramp up their production.  This has predictably led to increased costs as prices from labour to equipment has jumped to meet the demand.  Labour unions demand a higher percentage of the booming profits and governments look to fund their own budgets by new taxes and regulations. With significant cash at their disposal, many mining companies can absorb the effects of these cost increases.
Yet, most organizations understand that this does not represent a sustainable strategy. The past commodity booms have demonstrated that as the price of the commodity prices drop, the related production costs do not fall by same proportional rate.
Organizations must begin managing their costs while the market is strong, if they want to survive a sudden slowdown in demand for their commodity.  This means that bringing into alignment long term measures that will improve the efficiency and provide a ongoing stable foundation to endure the future rise and fall of the market.

Organizations should be looking at their costs while commodity prices are booming.

Managing your costs with Verdant Horizons Sustainability Suite:

- Data Manager

- Asset Manager

- Active Collaboration with employees

- Active Collaboration with your suppliers

 

2) No Stability in the Price

No one knows for sure when the commodity market will fall or are we looking at a new baseline for prices at this level.  It is well known that the emerging markets hunger for materials to feed its growing industrialisation have driven markets up.  However there are a large number of global risks that have also lead to uppredictable fluctuations on commodity prices.  These risks include environmental damage, slow US and european spending, conflicts and political instability.
Steering a global business through highly volatile markets needs a level of experience and predictive forecasting skills that more organisations do not have or cannot afford.  Unable to plan for numerous scenarios many organizations turn to insurance providers for assurance.  This in itself is unsustainable as insurance companies have had to raise the price of their policies due to the record numbers of environmental and regulatory payouts in the past few years.
Organizations should be looking at strategic planning to help mitigate a volitile market.

Verdant Horizons Sustainability Suite can help you:

- Diversify your supply chain with Active collaboration

- Set and Revise critical policies

- Respond to changes with agile data.

 

3) Keep those Profits flowing

As each country struggles to deal with its part in the global financial crisis, it is no surprise that many governments are turning their attention to the mining and resource sectors.  Traditionally an area of interest, it is being held to even greater scrutiny thanks to record high commodity prices and vast levels of national dept.  With the environment and climate change also on the front page of public awareness, the expectation of sustainable business practices are intensifying.
Governments and regulatory bodies have begun introducing a variety of taxes, fees, levies and tolls to excerpt greater control and ensure they are collecting their share of this lucrative industry sector.  Organizations have responded by introducing new practices and governance policies to meet these demands.
Mining companies will need to focus on more enriched corporate social responsibility strategies and develop and track KPIs.
Verdant Horizons Sustainability Suite can help you with:
- Intergrate reporting
- GRI and International Standard CSR reporting.
- Policy and Goal development
- Data Management

 

4) Stakeholders want CSR

As what mining companies are doing moves from the commodity pages to international news headlines, there is a growing demand on mining industry stakeholders to become greater CSR ambassadors.  Even when workers are some of the industries highest compensated, this has not been the remedy for all of their concerns.  Local communities want greater involvement in how the environment will be affected to how they will be compensated.
Organizations that fail to treat these concerns seriously, may face production downtime, government project approval, corporate and civil activism.  With this mounting pressure, mining companies acknowledge the business advantage of embracing sustainability, optimising energy efficiency and improving water utilization.
Most mining companies around the world now have as a mandate to publish a CSR report.  Leading industry organizations such as the International Council of Mining and Metals require members to publish GRI reports.

Verdant Horizons Sustainability Suite contains:

- GRI & MMS templates built in CSR reporting- Instant and Secure report publishing

- Collaboration networks for stakeholders

 

5) Workforce Management

It has been well reported that the mining sector has been had a difficult time finding skilled workers in particular civil engineers and experienced miners.  This has affected production expectations of the companies as there simply are not enough skilled people to manage the projected growth.
In Australia job vacancies in the resources industry are set to soar as the task of completing a record $260 billion of new projects and expansions across the country moves into top gear.
With a slow down in the coal and iron ore market, skilled workers are migrating from one resource to another which is currently in greater demand.  In some of the more remotest worksites, companies are turning to higher levels of specialised automation to fill the shortages of workers.
Verdant Horizons Sustainability Suite contains:
-Adapt your policies with easily accessible data
-Manage training across your workforce

-Introduce local culture into your global culture

 

6) To find out more…

If you would like to get access to our white paper, please get in contact by clicking:   CONTACT US