BDO Global Report: Canadian predictions for mining in 2023
November 18, 2019
In a previous report, 2020: The Near Future of Mining, our Natural Resources practice leaders shared some predictions for the mining industry per regional market; in Canada, Australia, U.K., U.S., and South Africa, along with a global average.
Looking back on the predictions for 2020 and discussing how they've taken shape, we examine the Internet of Things (IoT), renewables, and automation being the main drivers of change—with a strong push towards cybersecurity.
Of all regional markets examined in the report, Canada outperformed everyone in predictions being on track. Blockchain became an essential area of development, faster than expected. Predictions for Bitcoin prevalence, the push for renewables, and increased cybersecurity spending are also on track as expected.
Predictions for Canada in 2023
- To conserve cash, 75% of miners will choose SaaS (Software as a Service) options versus traditional reporting, maintenance, health and safety, and financial platforms.
- Renewables will be on the rise in an effort to cut costs, where those on board could realize up to 30% in energy savings.
- A growing challenge for the industry as a whole will be to attract digital talent, in lieu of adopting new technologies and continuing on the road to digital transformation.
To download the full BDO Global report, 2023: The Near Future of Mining, please fill out the form.