Critical Raw Materials: PWC Urges Haste

27. June 2022 | Market

Top 40 mining industry faces major challenges.

The mining industry is undergoing an unprecedented transformation, says management consultancy PwC in its latest annual report on the industry’s top 40. Although the companies achieved record profits last year, their future success depends above all on whether they can also play a leading role on the road to climate neutrality, i.e. in mining the critical raw materials required for this. According to the “Mine 2022” report, demand for materials ranging from aluminum to rare earths is growing and will exceed supply in the near future. Investment gaps would exacerbate the situation.

Companies would face a whole range of challenges, because in order to meet the increasingly important sustainability criteria, the mining industry would have to reinvent itself in places and develop different methods. This is also true because the deposits of critical raw materials are significantly smaller than those of coal or iron ore, for example.

PwC urges the industry to hurry up with its reorientation, especially as new companies are waiting in the wings that specialize in certain materials and also cover downstream stages of the value chain.

The report “Mine 2022” can be found here.

Photo: iStock/qwerty01

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