On this week's episode of On the Rocks, we chat with Ewan Downie about Nevada's mining industry and the importance of critical minerals and gold.
From Ore to Online: Using Social Media in Mining
In this week's nugget, we discuss how the mining industry can improve public perception with industry expert Dr. Haydon Mort, along with social media tips for mining companies. As always we have news updates and the most recent commodity prices for gold, silver, copper, and platinum. Read on to answer this week's poll, and see results from last week's mining investment survey!
- 💭 Speaking Outside of Our Bubble
- 📈 Today's Commodity Prices
- 🔥 Tips for Mining Company Social Media
- 📰 In the News
- 📍 Poll
💭 Speaking Outside of Our Bubble
Something we hear repeatedly on our On the Rocks Podcast is that people want to change the perception of the mining industry by the general public. But, how can we as an industry do better about speaking outside of our bubble? My answer (no surprise here) is social media. By using platforms like Twitter, Facebook, and Instagram, mining companies can share information about their operations and the steps they are taking to minimize their environmental impact and promote sustainability. They can also use these platforms to engage with the community, answer questions, and address concerns, share job opportunities, and more! By leveraging social media, the mining industry can help to build trust and transparency with the public, and promote a more positive perception of the industry as a whole! So what are you and your company doing on your social media profiles?
PS- are you following Prospector on your favorite social platforms yet? 👀
Head of New Media
📈 Today's Commodity Prices
Gold $1,937.62 $/oz
Silver $23.66 $/oz
Platinum $1,056.00 $/oz
Palladium $1,743.50 $/oz
Copper $3.89 $/oz
Source: Prospector, as of 1.24.23 at 4:00pm EST
🔥 Tips for Mining Company Social Media
Recently on the podcast "On the Rocks", Emily King interviewed Dr. Haydon Mort, the Founder & CEO of Geologize Ltd. Geologize is a platform that helps geoscientists improve their communication skills. During the interview, Dr. Mort discussed the importance of social media for the mining industry in building a better public perception and potentially increasing share prices.
Here are 5 tips he gave to mining companies to better utilize social media:
- Actually use social media platforms, such as Instagram, to share with and engage shareholders as well as the general public.
- Build relationships with content creators.
- Invest the time to create aesthetically pleasing posts, nice thumbnails, properly formatted images, etc.
- Highlight more than just mining! Show the local communities, beautiful locations, exciting field work, environmental aspects, and more.
- Train and utilize employees on social media best practices, and allow them some freedom to use their own voice
Want to hear more tips, tricks, and ideas on how to better utilize social media in your personal and professional life? Listen to the full episode of On The Rocks!
📰 In the News
FMF Panel - Changing the Perception of Mining
The mining industry is facing a perception problem, with a 2021 Globescan Poll ranking it as one of the lowest sectors in social responsibility. The panelists at the Future Minerals Forum 2023 in Riyadh, Saudi Arabia discussed that the problem is not just a true perception issue, but also a misperception issue. The panelists suggested that the mining industry needs to communicate more transparently and as a whole, and work with communities, use social media, and even relate to popular media such as games and movies to improve its image and show the world that mining is necessary and can be a positive force for society.
Peruvian Protests Disrupt Access to $4 Billion Worth of Copper Amid Rising Demand
Protests in Peru are disrupting access to $4 billion worth of copper as demand is set to increase due to China's emergence from Covid lockdowns. Two major mines, Las Bambas and Glencore Plc's Antapaccay, are facing restrictions and account for 2% of the world's copper output.
Does AI threaten the perception of the mining industry?
Artificial intelligence advancements such as ChatGPT and image generators like Midjourney may change the world of work, but they still have limitations and inaccuracies in their responses and depictions. They may pose a threat to certain jobs and industries but also highlights the need for more accurate and diverse representation in AI technology. (PS - looking for accurate AI powered data on the mining industry? Prospector has it 👀)
📍 What is your favorite social media platform to stay up to date with the mining industry?
(Aside from the Weekly Nugget of course!)
Last Weeks Results:
How do you determine what mining companies you invest in?
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