The world is at a critical point in time, socially, environmentally, and economically. The latest projections by the United Nations suggest that the global population could hit 8.5 billion in 2030 and 9.7 billion in 2050.1 With a growing population comes a growing demand for the metals and minerals that underpin societal progress. From civil infrastructure to transportation, and technology to agriculture, the products that the mining and metals sector produces, support and enable virtually every sector globally.

The paradox is that, while the need for mined products has never been greater, public opposition to mining activities has never been higher. The green energy transition is expected to be a mineral intensive one—the International Energy Agency estimates that the demand for minerals used for electric vehicles and battery storage will grow tenfold by 2040.2 Yet, at the same time, approvals for projects that could become important providers of critical minerals, such as lithium (see Rio Tinto’s Jadar project in Serbia3 ), are being hampered due to protests. The juxtaposition between need and want is stark, and the gulf between them creates a very real threat to global climate change mitigation.

For too long, the stories told about the mining and metals industry have centered on the negatives. However, the opportunities that mining and metals companies can offer to provide for and enhance the prospects of the population, as well as the environments they reside in, are vast. Mining underpins approximately half of the global economy4 and therefore, it has the greatest potential of any industry to positively influence social, environmental and economic development.

This year, Deloitte Global’s Tracking the trends 2023 focuses on the indispensable value that mining and metals companies can deliver, with the emphasis on taking action now for a better tomorrow. In each of these 10 trends, our network of Mining & Metals sector professionals globally offer up expertise, insights, and examples to spark conversations about how mining and metals organizations can make a difference in the world.

Changing perceptions of the industry by putting people and natural capital front and center in strategies; designing organizations and products for circularity; creating safer, more respectful places of work; and innovating together to make the possibility of ultra-efficient mines a reality will be key to creating a healthy, regenerative ecosystem inclusive of people, planet and industry. We’re excited to discuss these trends with you and explore how they will shape your company’s future. Thank you for your ongoing support

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Source: Deloitte's Tracking the Trends Report 2023

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