This year’s PDAC is featuring hundreds of companies and speakers. On Sunday, the Investing News Network (INN) attended the presentation by Mark Cutifani, CEO of Anglo American (LSE:AAL).
The 30-minute presentation led by Cutifani was “Leadership in the Tough Times” and he shared his tips for companies to survive during difficult periods.
Read on to learn about how Anglo American’s CEO thinks the mining industry can lead change even in tough times.
1. Contributing to the Local Community
The first point Cutifani made was the importance of contributing to the communities surrounding mining projects. He stated that the company’s projects drive 45 percent of the local economy, but that regardless of the number, the impact in communities is big and should be shared.
‘If people are having [a] view [that the world could do without mining], it is about us not telling our story and explaining how feeding, housing and the basics are provided by the industry,” he said.
On the same note, Cutifani said that the Development Partner Institute was launched during the weekend, with the intention to create a safe space for stakeholders to discuss how the mining industry could do a better job and, in particular, connect with local people.
“As a company if you are a dominant player in that landscape and the community can’t see additional benefits in terms of infrastructure, coordination or something different in their life, then don’t be surprised if you get significant push backs,” he said.
For Anglo American’s CEO, if companies can change the dialogue to how they will contribute to society and get the local community on board with their project, 9.9 times out of 10 the regional and federal governments will support them.
2. Adapt and Innovate
Secondly, Cutifani said companies need to adapt and innovate to be more productive. “Based on the processes we use, the changes on the management processes we made and the implementation of different technologies, all have to come together to ensure we are productive and competitive,” he said.
He also discussed the importance of internet and the access to information.
“With the internet and the access to information, the ability to bring pieces together and triangulate new ideas is tremendously powerful,” he added.
3. Resilience in the Business
The last point in Cutifani’s presentation was that companies should be resilient and generate returns to shareholders. For Cutifani, resilience in the business is about “the way we work together as a team and it’s about the innovation that the companies adopt”.
He ended his presentation saying that as an industry, “we must listen to and understand the needs of a broader cross-section of stakeholders, working in partnership and building greater levels of trust” and that “we have to be leading change, because as an industry we have the ability to change the lives of the people we touch in terms of the infrastructure we bring into the communities.”
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.