Deloitte's Mining Trends for 2014: 'Power to the People'
Following Deloitte's urging us to peruse their 'Tracking the Trends 2014' report for mining, we had a brief look at the compte rendu, and found that socio-political risk features more than ever.
Deloitte’s 2013 report spoke of government’s newly increased demand in resource revenue, but a new chapter this year, ‘Power to the People’ has revealed the ‘increasing intensity’ of local community demands. Indeed, the following paragraph could have been written by yours truly:
“Owing to their potential for both outsized economic contributions and significant local environmental effects, mining companies are in the spotlight – as cast not only by international media but also by a growing number of monitoring and standard setting bodies. Social media has elevated these activities to new levels, enabling the instantaneous and global dissemination of negative press in real time. As a result, corporate reputations, access rights to new discoveries and market valuations are all at risk like never before.”
The report is an excellent and concise synopsis of the challenges and opportunities facing the mining industry. In the spirit of the new social media paradigm, we shall ‘mirror’ Deloitte’s introductory video here: