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20 January 2013
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Executives from the global mining industry anticipate an increase in levels of consolidation, with 54% of respondents projecting an increase in merger and acquisition (M&A) activities in 2013.
Revenue and margin pressures created by rising cost of raw materials, and resources and fluctuations in the commodity markets, have prompted companies to consolidate positions and look for M&A to stabilize operations.
Key Market Issues
- China is identified to be the important region for growth among emerging markets, along with India, Brazil, and South Africa. Expansion of mining activities, increase in demand for metals, together with strong economic growth, are considered the important reasons by respondents for selecting these regions.
- 'Market uncertainty', 'falling demand', 'responding to pricing pressure', and 'retention or recruitment of skilled staff are identified by respondents as the pressing business concerns in the global mining industry. Among buyers, 50% of respondents rate 'market uncertainty' as the important business concern in 2013, while 42% highlight 'falling demand'. Among suppliers, 'market uncertainty' and 'responding to pricing pressure' are considered the significant business challenges in 2013, according to 57% and 36% of respondents respectively.
- The average size of the global annual procurement budget among mining industry buyers is forecast at US$78 million for 2013. A comparison of global procurement budgets by operating region shows that global mining industry buyers with leading operations in North America have the highest average procurement budgets in 2013, at US$156 million.
- 'Financial strength and stability', 'existing relationship with supplier', 'delivery lead times', and 'price' are considered the most important factors for supplier selection in the global mining industry, while 'proximity of supplier operations', 'environmental records and CSR', and 'brand reputation' are considered the least important.
- Weakness in financial markets, less favorable polices in advanced economies, coupled with inability to sustain the high pace of growth by developing economies, have contributed to lower optimism levels.
- An analysis of revenue growth expectations by senior level respondents reveals that 49% are 'more optimistic' about their company's revenue growth in 2013.
- Regardless of regional classification, a significant percentage of respondents highlighted capital expenditure towards 'new product development' and 'employee training' in 2013.
- The top three priorities for global mining industry buyer respondents in 2013 are 'improving operational efficiency', 'expand in current markets', and 'focus on sustainability'.
- The Indian government will spend US$1 trillion to improve infrastructure and power networks, and invest US$15 billion to expand coal generation in its five year plan, from 2012-2017.
- Survey results show that 41% of respondents identified the US as the country that will offer the highest growth potential among developed countries in 2013-2014.
This report analyzes how global mining industry companies' procurement expenditure, business strategies, and practices are set to change in 2013-2014. This report provides data and analysis on category-level spending outlooks, budgets, supplier selection criteria, business challenges, and investment opportunities of leading purchase decision makers in the global mining industry.
The report also identifies future growth of buyers and suppliers, M&A, and e-procurement in the global mining industry. This report not only grants access to the opinions and strategies of business decision makers and competitors in the global mining industry, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type, and sizes.
- Project industry trends and revenue growth expectations in 2013 and understand business confidence to make informed business decisions.
- Drive revenues by understanding future product investment areas and key growth regions.
- Uncover key challenges and opportunities and identify key actions required to maintain and win buyer business.
- Formulate effective sales and marketing strategies by identifying how buyer budgets are changing and the direction of spending in the future. Better promote your business by aligning your capabilities and business practices with your customer's changing needs.
- Secure stronger customer relationships by understanding the behavior and changing strategies of industry buyers.
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