The challenges and opportunities facing mining companies in Asia Pacific and Africa

We sat down with Reuben Joseph MAusIMM, President of Asia Pacific (APAC) and Africa at Ausenco, to talk about the challenges and opportunities facing the region. 

What is top of mind for mining leaders in APAC and Africa today?

Clearly, the broader economic environment remains a challenge. Cost inputs are increasing, and few commodities are providing an equivalent upside in revenues. From a project development perspective, that is forcing companies to work harder to secure capital and ‘do more with less’. For existing operations, we are seeing owners focus on debottlenecking, recovery improvements and squeezing every ounce of efficiency from the asset.

At the same time, leaders are dealing with a host of external pressures. Labour markets are tight and skilled workers are increasingly in demand. Decarbonisation and ESG considerations are adding further complexity to the mining agenda as leaders work to understand future expectations and financial impacts and adjust their strategy accordingly.

You mentioned labour markets are tight. What are companies doing to attract and retain talent?

There is growing competition for skills and talent right across the sector. While this can often present new opportunities for candidates, for organisations it typically leads to increased costs and in the worst case, a loss of institutional knowledge if staff turnover accelerates. We are increasingly seeing mining companies lean on external providers to bring specialist expertise and ensure best practice is achieved. Retaining existing talent is the foundation that ensures a company’s DNA is secure and this in turn facilitates growth and expansion.

When it comes to talent retention, culture is the key. I believe employees want to work for companies that prioritise developing their people, creating the right culture and opportunities to motivate them, and then genuinely caring about their needs and wellbeing. It is critically important for companies to understand what motivates people at an individual level and then work with them to find mutually beneficial ways to support their goals.

Is technology disrupting the industry?

Every day we see new technologies unveiled that aim to disrupt the industry, but in the mining sector, huge value is still derived from doing the simple things well. Knowing your project and truly understanding which levers to pull to get an optimal economic outcome is imperative. This then leads to engaging the right internal and external teams who can add value and deliver successfully. 

There is a fine line between leveraging new technology and managing risk; it takes keen insight, deep experience and an understanding of global best practices.

How have client expectations changed in the region?

I believe what mining leaders want is a partner they can trust. They want to work with service providers that build long-term relationships with them and partner with them at every step of the journey to achieve the best possible outcomes for their stakeholders. They want to see a clear link between their success and their service providers’ success. 

At the same time, they are looking for organisations that can deliver the right mix of professionals to meet their unique needs and keep a consistent focus on helping them find better ways to deliver on their objectives. 

What do you find most exciting about the Asia Pacific and Africa region?

There is no doubt that our industry provides the raw materials at the heart of the energy transition, and Asia Pacific and Africa hold many of the resources that the world is going to need to successfully decarbonise. Over the next 12-18 months, I expect to see an increase in exploration chasing higher commodity prices and some consolidation of the marketplace as capital flows towards the most attractive assets. 

I also have big expectations for Africa. We have seen a notable increase in activity focused on Africa, both from juniors looking to develop and from majors seeking to grow. I think long-term demand expectations are starting to shift the equation for investment into Africa and we will see a significant increase in project approvals as a result. 

What do you enjoy most about your role at Ausenco?

First and foremost, it is the people. I spend a lot of time engaging with our clients, understanding their business and goals ensures we are aligned, and our teams are driving to a common objective. To me, it is all about building trust and showing that you genuinely care. 

My other big motivation is Ausenco’s purpose: to find a better way. Our entire focus is on helping our clients find better ways to achieve their objectives, and we bring together innovation, experience and expertise to help them get there. This motivates me from a leadership perspective, our people from a development perspective and our clients from a value perspective.