If ever there was a time for the mining industry and the consultants who service them to talk, it is now.
On Thursday 25 August at the Grand Chancellor Hotel in Brisbane, immediately after the International Mine Management 2016 conference, the AusIMM Consulting Society is running a seminar around the topic of ‘Getting value from your professional advisors’.
This will be a very important event for both the industry and for consultants and aspiring consultants.
The seminar will involve leading speakers from both industry and consultancy. There will be discussion and debate surrounding proposed solutions to the issues that arose during both the mining boom and the subsequent downturn.
It is timely that this discussion takes place now so that, as the industry emerges from the present decline, the complex relationships between the mining industry and its advisors is better understood and defined. This will hopefully lead to greater certainty for both parties and better performance by all.
The new market reality demands that the industry must be very efficient producers if they are to remain viable. Further, mining companies must also be very careful in how they manage scarce financial resources. Indeed, for some within the industry, the availability of financing is a very significant risk to their continued survival.
Also adding stress within the industry is the ever increasing burden and cost of regulation, not least of which are the issues involved in potential mine closure provisioning.
All of these stresses demand that consultants and industry understand the realities of operations in this new business environment. With this knowledge they can then work together to meet appropriate demands in ways which are cost-effective now, and which will be effective in ensuring that operations in the future can be started, restarted or expanded efficiently and expeditiously when the markets allow.
For our future wellbeing and that of our businesses, we should all invest in our industry by being involved in the upcoming seminar.