The mining and metals industry continues to stand on the cusp of transformative growth with some major projects poised to commence simultaneously across the globe. Anticipation is palpable.

We call this the ‘floodgate phenomenon’, where there is a build-up of projects in the pipeline – whether it be a new mine, facility upgrade or new process facility – about to go live all at once.

For Original Equipment Manufacturers (OEMs) and supplier services to the sector, this expansion presents a golden opportunity to play a pivotal role in shaping the future of the sector.

However, it also casts a spotlight on a critical challenge that could potentially hinder our collective progress – namely, the need for strategic hiring to meet future demands at this important time.

With the projects remaining behind the dam wall for now, the exact impact may be imminent – but the where and how remains unclear. This is leading many businesses to stall on vital planning for talent, believing it is right to wait.

Our experience shows this often creates significant problems. While we do not have a crystal ball, we can be certain that when the floodgates are released, the demand for leaders who can truly shift the dial will be at the forefront of everyone’s mind.

And we also know, for example, that the demand for specific skilled and experienced leaders in engineering, technology, and on-the-ground operations will skyrocket.

Looking across the market, we are seeing a varied response to this future problem.

However, OEM companies and business services in mining and metals must address this gap by not only attracting new thinking but also by retaining and upskilling their current workforce. The competition is already fierce, and OEMs need to differentiate themselves as employers of choice now for when this intensifies further.

WHAT THE EXPERTS SAY...

“There is a huge amount of opportunity to make a difference in mining. We are championing candidate diversity and inclusivity so if you want career growth and experience, come work in mining. This is not the perception that people have of the mining sector and now is a great chance to get involved and make change happen.

“This is doubly important right now because we will have a shortage of skills, taking from the competition is not going to work. We need to build a positive view of the industry - not just an individual company.

“The challenges are many, but OEMs are a more consolidated industry so we should be able to get together and have an active role. We need this particularly around areas where asset locations are less desirable and where resources are now becoming more complex.”

So, what are the main strategies needed?

CASE STUDY: LEADING IN BEST PRACTICE

"The Weir strategy centres around four pillars – People, Customer, Technology and Performance. This is our commitment to providing innovative end-to-end solutions that accelerate the transition to smart, efficient and sustainable mining.

We continue to work hard to understand the needs of our customers and recognise that this transition must be underpinned by solutions that minimise total installed cost, reduce Opex and guarantee outcomes, with tried and tested technology.

This is more about evolution than revolution and by bringing great people together – customers, EPCs, strategic partners and our global team – we’ve been able to transform the mining flowsheet, driving down water and energy consumption, and carbon emissions by more than 50%.

Our project pipeline continues to grow, and the signs are that our customers are preparing to launch significant green and brownfield projects across the globe as the industry works hard to meet the growing demand for minerals. We are excited about this and believe we are well placed to support the needs of the industry, but the potential for the “floodgate phenomenon” is real.

Our substantial investments in digital and AI are important overlays on our equipment portfolio, from conceptualization though DFM and then field deployment. We are certain that this will mitigate some of the resource demand throughout the value chain, not least on the ground operations.

These new technologies, together with our compelling ESG proposition, have become important factors in our ability attract fantastic new talent with fresh perspectives, essential in driving our business forward. The fantastic new talent I mention are joining a brilliant company with lots of outstanding people here already, and we must never lose sight of the importance of retaining and developing the talent in our existing team.

As the floodgates open, our strong and focussed ID&E culture that we have embedded in the business will ensure that there are no barriers to opportunity for every single member workforce, including those reaching a traditional retirement age who may want to stay longer and ride the wave.”

In conclusion

We are undoubtedly waiting for the next chapter in the natural resources sector to start and the role of OEM companies has never been more critical.

One thing we do know is that when the floodgates do open, the opportunity to redefine what is possible in our industry will be here. But addressing the challenges in hiring strategies will require foresight, innovation and a commitment to change.

And we have every reason to be optimistic about the sector’s ability to rise to the occasion – but this will mean ensuring that the industry continues to thrive and contribute to global progress, putting people at the very front of this change.