Industry disruptors

Accelerating change with innovation and unconventional thinking

Investing for a competitive advantage

The dark days of the downturn may be over but the environment remains uncertain, and executives today need enhanced tools and analysis to understand more clearly the value and risks associated with the status quo and with pursuing new opportunities.

 


The mine of the future will be more data driven and automated

Michael Shea, Partner
PwC Canada

 

Combining business and technical minds for greater discipline

Volatility in prices for bullion in recent years has made Kinross Gold Corp. particularly vigilant about how it deploys capital to its global operations, which span the Americas, West Africa and Russia.

Rather than wielding an axe at every project, management has pursued a course of disciplined capital allocation. To help it make the right choices, the company adopted a creative concept known internally as Project Value Assurance. The process adds business experts to the technical teams of engineers, geologists and other mining specialists and allows the company to examine its projects through an economic lens from day one.

“Project Value Assurance has been a disruptor in a great way because it's allowed us to look at opportunities that perhaps we didn't think were viable in the past and turn them into something that we think has legs.” 

Hélène Timpano, Vice President, Business Optimization, Kinross Gold Corp.

Leading the way on digitization

Barrick Gold Corporation is challenging the industry status quo with a three-pillared initiative it calls Best in Class.

The Best in Class initiative supports Barrick’s drive to lower its all-in sustaining costs below US$700 per ounce by 2019. The company is already an industry leader by this metric, and achieving this goal would position Barrick well for withstanding future metal price downturns.

 

“It's not just about implementing the technology, it's also [about] driving the business outcome and the behavioural outcomes.”

Michelle Ash, Senior Vice President Transformation and Innovation, Barrick Gold Corporation
 

A disruptive business model able to benefit from both sides of the cycle

While most mining companies have had to adjust their business models to cope with the commodity downturn, First Mining Finance Corp. was born of the slump, conceived by an industry veteran to capitalize on distressed assets. The company describes itself as a “mineral bank” with a mission to add value in a bear market using unconventional thinking.

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“What I've learned is you need a really good vision in this business and you need a lot of gumption. You need to be fearless and you need to be aggressive.”

Patrick Donnelly, President, First Mining Finance Corp.

Diversifying portfolio management strategies to reduce risk

Centerra Gold Inc. has stood out during the commodity downturn by playing offense in a defensive market. As bullion prices tumbled between 2011 and 2015, the company forged ahead with a slate of deals.

The company has further separated itself from many of its competitors by financing these endeavours without turning to the equity markets, relying instead on banks and its own cash.  

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“We keep challenging and keep questioning the status quo. What is the technical limit? Why can't we do more?”

Scott Perry, CEO, Centerra Gold Inc.

Contact us

Dean Braunsteiner

National Mining Leader, PwC Canada

Tel: +1 416 869 8713

Liam Fitzgerald

Competency, Innovation & Legal Tax Leader, PwC Canada

Tel: +1 416 869 2601

Mark Platt

Partner, Assurance, PwC Canada

Tel: +1 604 806 7093

Mark Patterson

BC Mining Leader, PwC Canada

Tel: +1 604 806 7160

James Lusby

Partner, Assurance Group, PwC Canada

Tel: +1 416 365 8181

Marelize Konig

National Business Transformation Leader, PwC Canada

Tel: +1 416 814 5862

Stephen Mullowney, CPA, CA, CFA

Partner, Corporate Finance, Mining, PwC Canada

Tel: +1 416 687 8511

Maxime Guilbault

Partner and Mining Leader for Quebec, PwC Canada

Tel: +1 514 205 5448

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