Yann Zopf, Director, Media Relations, World Economic Forum
Tel: +41228693618, Email: yann.zopf@weforum.org
Dalian, People’s Republic of China, 11 September 2015 – a new report, Mining and Metals in a Sustainable World 2050, has been launched today as part of the World Economic Forum’s Industry Agenda publication.
Few industrial sectors are more fundamental to global social and economic development than mining and metals. Important in themselves, representing more than $2 trillion in revenue, they also connect to the value chains of most other economic and industrial activities. They will face major challenges in the years to come. The future of our planet and of its finite, non-replaceable resources will be top of all serious agendas between now and 2050. A way has to be found for the Earth to live within its environmental means while coping with continued increases in both per capita consumption and population. As a result, regulation is increasing and customer sentiments are changing. While it remains essential for companies to focus on short-term issues in today’s environment of low commodity prices, long-term success in a sustainable world requires developing a long-term perspective today.
Prepared in collaboration with the Boston Consulting Group, the report provides a holistic view – for industry players and those in sectors affected by mining and metals – of the changes to come and the new expectations they will face. It identifies key questions, such as: How can we embrace the transformations to come? Which business models and strategic priorities will enable success? What actions can mining and metals companies take now to prepare themselves to be the industry leaders in 30 years’ time?
Mining and Metals in a Sustainable World 2050 provides a framework that describes six key themes of transition that companies need to think about, from the resource base to end-consumer demand. It provides guidelines for plotting a path to 2050 from today, identifying the gaps to bridge and potential disruptions to be handled.
A deep dive was conducted around the theme of circularity and recycling of resources. Three scenarios of the future, each outlining a different road towards 2050, were applied to identify different actions. Key findings include:
The report provides an overview of the courses of action the industry and stakeholders will have to pursue. “As the report shows, we will see an increase in collaboration, both within the mining and metals industry and across the value chains with other industries and stakeholders,” says Gillian Davidson, Head of Mining and Metals Industries at the World Economic Forum. She adds: “Business models will have to be adjusted accordingly with some players redefining themselves as material providers, rather than pure mining or metals players. The companies who think about this now, and act on their thinking, are those with the best chance of coming through these changes as leaders.”
Notes to Editors