KPMG, an audit, tax, and advisory company, named decarbonisation as the key component to ensure operational excellence for mining enterprises.
In its latest ‘Metals and Mining Outlook’ report, KPMG highlights the growing focus on reducing the carbon footprint within the industry, which has become a top priority for leaders over the coming year.
"Mining and metals companies are pivotal in the energy transition," Mining Weekly quotes KPMG mining sector lead Trevor Hart as saying.
He explained that the 2023 report focused on the mining and metals industries’ role in enabling a carbon-free future. This year, however, the focus had shifted toward efforts to reduce carbon emissions amid volatile commodity prices, geopolitical change and a shortage of technology capabilities and skills, which posed both challenges and opportunities for the sector.
The report also addressed price volatility. Out of 453 C-level executives from 20 countries across the metals and mining sector, 66% said output price volatility had risen in the past two years, while 53% noted similar trends for input prices.
As green energy technologies expand, global demand for critical minerals is expected to double by 2040, potentially quadrupling under sustainable development scenarios. The KPMG report reveals that metals and mining companies must accelerate efforts to reduce emissions, while responding to customers’ decarbonisation needs. The data shows that 75% of companies in these sectors have set net-zero goals, with 40% aiming to achieve net zero by 2040 and 29% targeting 2025.
Theodor Lisovoy, Managing Editor, Rough&Polished
