Mining companies are shifting their strategies and adopting new business and operating models to include new technologies—and are doing so on a more rapid and global basis than ever before. Why? A combination of market volatility, changing global demand, radically different input economics, new locations in search of more reserves, a focus on a longer asset lifecycle and a commitment to operational excellence—as well as policy shifts around the globe—are all contributing to a seismic shift in the industry. Decades of cost reduction and the aging workforce has left mining companies with limited resources to adjust. To seize the opportunity, mining companies must leverage digital tools and capabilities to improve operating efficiency, develop more accurate and agile planning, heighten vendor awareness and collaborate with business partners throughout the value chain.
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