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TEN
embed
processes

TaX TriBulaTions
Various global tax
measures potentially could TRENDS
create serious constraints
GeTTinG parTnerships and on mining economics. To
The social invesTor joinT venTures mitigate any unexpected
The drive towards social value is no In the next year more companies will tax obligations, mining
companies should be
longer limited to environmental activists. be looking to explore joint ventures aware of these changes,
Civil society and investors alike are and partnerships in the execution of understand how they could
demanding greater transparency their strategies. However, looking back, impact their tax affairs, and
around the environmental, sustainability many of these JVs and partnerships take steps now to mitigate
and governance principles. To regain have failed to deliver the kinds of value tax risk. This will involve
investor trust, miners must embrace originally envisaged. In this trend some new forms of agreements
a commitment to value beyond just of the common pitfalls and ways for and government
compliance with regulations and embed companies to maximise the success of partnerships, and greater
these processes in their organisations. a joint venture or partnerships through transparency regarding FOR
decision making, governance and taxes paid.
transparency is looked at. 2020

innovate seiZe opporTuniTY
aMid uncerTainTY dYnaMicallY As global volatility rises, mining
companies can no longer rely on their
ManaGinG risk registers to identify danger areas.
risK Systemic issues such as insufficient
risk sensing, a ‘tick the box’
mentality, and complex operating models
Commodity prices rise and fall in tune with economic trends, which are forcing companies to predict the
are currently foreshadowing a potential downturn or lower growth impact of emerging events and prioritise
environment. To avoid being blindsided, there are five bold plays key risks. In this trend embracing more
mining companies can make to prepare: 1. Future-proof tomorrow; strategic risk management practices is
2. Continue to innovate; 3. Redesign rather than abandon;
4. Review business relationships; and 5. Acquire resources. community looked at.

The paTh To
decarBonisaTion on The road ToWards
inTelliGenT MininG
Driven both by pressure
from stakeholders and the Digital technologies,
strengthening business case artificial intelligence, and
for decarbonisation, mining analytics solutions have the
companies are taking steps potential to transform the
to reduce their greenhouse mining industry. While many
gas emissions. While the path companies have launched
won’t be easy, the commitment digital programs, companies
is necessary if miners are to often are not deriving the value
contribute to the mitigation of they originally hoped for. A
risks associated with climate retrospective look at this
change and at the same time trend was taken, summarising leadership in an indusTrY
create value for customers, key lessons learned and 4.0 World
investors, governments, where companies need to
communities, and employees. focus going forward. There are four drivers reshaping
today’s leadership landscape:
The inTersecTion oF TalenT and coMMuniTY ModernisinG core the emergence of non-traditional
teams; the creation of exponential
To capitalise on the digital TechnoloGies roles; the proliferation of data; and
the imperative to embrace greater
revolution, mining companies Over the years, mining diversity and inclusion. Mining
need to drive radical change companies have made companies that want to strengthen
both internally and within significant investments in a their competitive advantage, and
surrounding communities. range of backend technology create an adaptive and responsive
This requires a thorough systems. Many of these culture, must commit to upskilling
understanding of the impact legacy systems will need their leaders now.
that digital transformation can to be modernised. This
have on work, the workforce, raises considerations such
and the workplace, and in turn as moving to the cloud, invest in
on the communities in which adopting sound cybersecurity leadership
they operate. strategies, managing data and
choosing the best approach
for revitalising core systems.
aUSTRaLIa’S PaYDIRT MaRCH 2020 Page 15