Journal of the Southern African Institute of Mining and Metallurgy
On-line version ISSN 2411-9717
Print version ISSN 0038-223X
Strategy is about making choices. Mining companies choose to do certain things and not to do other things. Mining is a long-term business, and the choices made typically have large investments attached to them, long payback periods, and significant socio-economic consequences. In today's uncertain world, it is important to make the right choices. The mining industry in South Africa finds itself in a difficult situation. Operating conditions are tough, the socio-political environment is complex, and financial performance is under pressure. The choices made by all the stakeholders in this industry in the short term will shape the future of the industry. This paper characterizes some of the big, difficult decisions faced by the mining industry in the South African context, and discusses how these decisions could be approached in a fact-based and robust way.
Keywords : Strategy; choices; community; social impact; scenarios; portfolio optimization; adaptive cost management; stakeholders; innovation.