Weekly Nugget
Welcome To June!
We dug up 5 exciting events in mining this month, including The Canadian Mining Expo and International Day of Women in Mining!
International Day of Women in Mining is June 15th. Celebrate with events, statistics, and news covering women and diversity in the mining industry!
Interested in digging deeper into demographic or leadership data? Please contact us at hello@prospectorportal.com!
🗨 Celebrating #IDWIM2023!
I have been fortunate enough to actively participate in Women in Mining Peru, where I serve as both a mentor and a member of the innovation committee. Through my involvement in this organization, I have realized the pressing need to change the mentality of the mining community, not only for the industry as a whole but particularly for the women who work within it. It is disheartening to witness highly skilled and knowledgeable women being forced to leave companies due to a lack of respect, disregard for their opinions, or the existence of an invisible glass ceiling. This frustration has fueled my commitment to promoting equality and advocating for fair and inclusive treatment of both men and women within mining organizations. I am incredibly grateful to witness the dedication of organizations that are genuinely committed to diversity and equality. Their efforts inspire me to create the transformative change we so desperately need.
Alessandra Morante
Head of Data
🔥 What's New
Did You Know?
44% of public company mining industry leadership is between the ages of 60 - 79. There is great knowledge and experience at that age level, but is the mining industry bringing in enough people to start learning from and replacing those leaders as they phase out of the industry? In our May Monthly Mining Roundup, the Prospector team dug into industry board member and executive data. Check out the full video replay to learn more, and let us know your thoughts! Watch Here.
Want to Join in on the Next Roundup?
Our next Monthly Roundup will be on Friday, June 30th. Be sure to follow us on LinkedIn so you don't miss it!
📰 In The News
Tomorrow - #IDWIM2023
Join IWiM in celebrating International Day of Women in Mining! This live webinar will feature speakers, videos, activities, and a great panel discussion!
Women And The Mine Of The Future Global Report
This free report download addresses the need for more gender-disaggregated employment data in large-scale mining. It analyzes data from 12 countries to uncover the employment profile of women in the sector. It compares the data against assumptions and trends, examines the impact of technological advances and sustainability on mining occupations, and identifies data gaps and challenges. It concludes with policy recommendations for governments, companies, and workers. Watch the Webinar and Panel Here!
Why Women Are Leaving The Mining Industry - And What Mining Companies Can Do About It
Women are significantly underrepresented in the mining industry, comprising only 8 to 17 percent of the workforce and holding few senior leadership roles. This article highlights the benefits of diversity for financial and operational performance. It identifies three key areas for improving women's representation: attraction, retention, and promotion. Suggestions include setting recruitment parity goals, creating rotational programs, promoting cultural change, and implementing effective sponsorship programs. The authors emphasize that diversity is both a moral imperative and a business opportunity for mining companies.
Mining Lags On Female C-Suite
Mining firms are lagging in female representation in top leadership positions, with women holding just 12.1% of executive roles in over 2,000 publicly-listed mining companies globally, according to S&P Global Commodity Insights. Progress has been slow, with an increase of only 1.6 percentage points since October 2021. In comparison, women occupy 42.7% of senior and leadership roles across all sectors. Barriers to progress include biases in selection processes and a lack of role models and mentoring. Diverse leadership is essential for decision-making and corporate culture.
Labor Costs Will Soon Beat Oil As Mining's Biggest Expense
Labour costs are surpassing oil products as the most expensive item for mines due to inflation, with wages increasing by around 10% in the past year and a half for copper and gold mine employees in the U.S. Labour costs have risen by 30% since 2015, and are expected to be the fastest-growing expense. The trend is similar in Canada. While the workforce accounts for 43% of operating costs at surface mines, oil-based products make up nearly half; in mills, labor costs represent 24%, and oil-based products account for half. Rising equipment operating costs and increasing bonuses are driving wage inflation.
🎧 On The Rocks
❓Prospector Poll
Are you or your organization participating in #IDWIM2023 (International Day of Women in Mining)?
Each week we want to get your opinion about the mining industry. We'll release the results with next week's Nugget!
Last Weeks Results:
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