Mining top executives the gloomiest of all: report

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

Leave Message for Us to Get Back

Related stories

Apple Invests $500mn in MP Materials to expand U.S. supply

In a recent move, technology giant Apple Invests $500mn...

Egypt and Saudi Arabia Exploring Mining Cooperation Options

The Egyptian minister of petroleum and mineral resources, Karem...

Steel Tariffs To Protect Domestic Steel Industry In Canada

Prime Minister Mark Carney of Canada on July 16,...

New Mining Law in Egypt to Shift EMRA Into Economic Entity

A new amendment to the mineral resources law in...

Mining top executives are much gloomier about the current economic outlook than their counterparts in other industries, as the ongoing slump in key commodities, from iron ore to copper, continues to impact their business decisions.

 

CEOs however remain just as confident on their own company’s growth, according to PwC’s 18th Annual Global CEO Survey.

 

The study also found that industry executives believe threats have increased, being particularly concerned about higher taxes, geopolitical turmoil and how indebted governments will handle their deficits. Bribery and corruption is a major worry too.

 

The most disruptive force on the horizon according to the executives interviewed are regulation changes, with 84% of mining CEOs worrying about this versus only 66% in other industries. They were particularly cautious of Argentina (98%), Venezuela (96%), and the U.S. (90%). Mining top executives the gloomiest of all: report

 

Source: PwC 18th Annual Global CEO Survey.

 

At the same time, they revealed to be counting on China, U.S. and India as catalysts for much of their growth.

 

All sectors considered, over half of CEOs (54%) think it is likely that organizations will increasingly compete in new sectors other than their own; with nearly a third (31%) saying their company entered a new industry during the past three years.

 

Deals rush?

 

Based on the responses obtained, PwC study also predicts an increase in mining mergers and acquisitions this year as almost half of all mining CEOs (44%) said they plan to form a new alliance in the next 12 months. More than a quarter (28%) said sharing risks is one of the top reasons why they are open to deals.

 

In the gold sector, however, such transactions may take time to materialize, as some believe shareholders are waiting to be certain that bullion prices have hit bottom

Latest stories

Related stories

Apple Invests $500mn in MP Materials to expand U.S. supply

In a recent move, technology giant Apple Invests $500mn...

Egypt and Saudi Arabia Exploring Mining Cooperation Options

The Egyptian minister of petroleum and mineral resources, Karem...

Steel Tariffs To Protect Domestic Steel Industry In Canada

Prime Minister Mark Carney of Canada on July 16,...

New Mining Law in Egypt to Shift EMRA Into Economic Entity

A new amendment to the mineral resources law in...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back