Posted in | Mining Business

New Report Analyzes Sustainability Budgets in Global Mining Industry

MarketResearch.com has announced the addition of the market research report "Sustainability in the Global Mining Industry 2012-2013: Market Trends and Opportunities, Profitability and Budget Forecast, Mining Industry Procurement and Marketing Initiatives" to their product offering.

In 2012-2013, buyers' sustainability management budgets in the mining industry are expected to rise by an average of 8%. A total of 55% of respondents expect an increase in sustainability budgets, of which, 21% expect budgets to increase between 5% and 10%. The increased awareness about sustainability among governments and mining industry stakeholders has resulted in the creation of numerous guidelines and regulations. The implementation and adherence to these sustainability guidelines and practices has resulted in an increased allocation of funds in companies' budgets towards sustainability initiatives. On average, respondents from supplier companies expect an increase of 5.3% in their sustainability budgets in 2012-2013, which reflects supplier companies' desires to remain competitive, the increasing demand from clients, product innovations, the importance of building energy efficient equipment, and increasing sales.

Globally, informed opinion among mining companies identified Canada, the US, and Brazil as the markets with the strongest growth opportunities for sustainable products and services in 2012-2013. The results of the ICD Research industry survey demonstrated that 53% of buyer respondents identified Germany to be an important growth region, followed by Brazil, the US, and Canada. These expectations are strongly influenced by government policy; for example, the Canadian government has created an organization, Sustainable Development Technology Canada (SDTC), to promote sustainable mining. SDTC supports technologies that address the challenges of climate change, clean air, soil, and water, including technology solutions focused on priority areas such as improving the efficiency of the largest water users and addressing the most sensitive points of water and soil contamination.

'Cost-savings and operational efficiency,' 'compliance with legislation,' and 'growth opportunities' are identified by respondents from buyer companies as factors that influence the sustainability efforts of their organizations. Supplier respondents identified 'cost savings and operational efficiency,' 'strengthening competitive position,' and 'growth opportunities' as factors that influence the sustainability efforts. Globally, mining industry buyers identify 'cost savings and operational efficiency' as the important drivers that influence organizational sustainability practices; the efficient management of natural resources helps the company to strengthen its competitive position and also helps to reduce cost and increase operational efficiency, and in addition, mining companies across the globe are required to adhere to certain environmental and legal regulations within the region in which they operate.

Source: http://www.marketresearch.com

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