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SCALING FOR THE FUTURE
Why mining firms of all sizes need the cloud and a clean core to manage growth and meet anticipated demand for precious metals
Even for a mining and minerals industry accustomed to numbers as big as its machinery of extraction , McKinsey ’ s latest projections were eye-popping . By 2035 , the strategy consultant expects lithium demand to jump by 475 percent , rare earths by 125 percent , nickel by 60 percent , copper by 35 percent , aluminum by 30 percent , and sulfur by 35 percent . That ’ s the energy transition in a nutshell , and here ’ s the biggest number of all : McKinsey estimates it ’ ll take more than $ 5.4 trillion in capital investment to mine enough of those and other materials to get there .
On top of all that , whether companies specialize in exploration , development , extraction , or do it all , firms large and small must also contain costs and boost efficiency , agility , and predictability . Given the pace of change , the formidable growth prospects , the surging M & A activity , and the complexities of their markets , these companies must harness technology to rationalize their systems and gain the visibility into their data and processes they ’ ll need to act strategically and profitably in the years ahead .
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