Challenges
Production is at an all-time high and global output continues to grow. Still, with demand slowing down and focus shifting from expansion to survival, iron ore producers can expect to face economic uncertainty and increasing competitive pressures for some years to come.In times of flux, mining companies need new, creative strategies to respond to shifting conditions and hold the line on profitability. By fine-tuning operational performance and maintaining a laser-sharp focus on cost, they will be able to derive greater value from their iron ore facilities.
For operations, maximizing capital efficiency and getting the most production from assets will be key. Doing more with less will be the norm, and that will require innovative approaches to operations management. Striving for best practices and looking for better ways of doing things will improve competitiveness and help unlock value, by reducing operating costs, curbing capital expenditures, or both.