2023 was a challenging year for the mining sector as global supply risks and geopolitical challenges threatened the disruption of existing market equilibriums. ESG (Environmental, Social, and Governance) application continues to pose challenges for producers worldwide as resource nationalism in the fast-changing, volatile world requires miners to develop a more enhanced understanding of the geopolitical impacts.
Achieving the Net-Zero climate goals by 2050 will continue to pose challenges as miners are forced to adopt a more realistic and balanced strategy.
Generally, supply chain issues witnessed during the Covid outbreak, exasperated by current geopolitical turmoils, have put miners under constant pressure to fast-track the supply chain transformation.
These challenges will force structural changes in the business models and operating models.
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