Midwest Copper Mining’s (MCM) biggest problem they are facing is that of sustaining supportable profit growth, as the undercurrents of the copper mining industry are changing. In particular, they need to figure out how they are going to increase their capacity to meet demands globally. They also need to figure out how to do this without disrupting the current culture of the business. They have been very successful and have created process and procedures that have kept them sustainable over the years. With the changing of the copper industry, MCM needs to re-evaluate their business strategy, make changes as necessary, in order to continue to be a successful company that is both a cost-leader and a differentiator.
BHP Billiton Limited was founded in the year 2001 as a merger between Australian Broken Hill Proprietary Company and the Anglo-Dutch Billiton Plc. BHP Billiton is a dual listed company and well known as the leading global resources and the largest mining company in the world measured from its revenue. The headquarters is in Melbourne, Australia and a major management office in London, UK. They have more than 100,000 employees and contractors across the 25 nations. BHP Billiton is the major producers of commodities namely energy coal, aluminum, iron ore, minerals, copper, manganese, uranium, nickel, and mining in oil, gas, and diamond. They have more than 100 mining and
After reading all these articles, the nature of mankind is down to the flight or fight response; you can either try to flee your current conditions or fight to try and save yourself. The Chilean miners, for example, fought their situation instead of giving up altogether and eventually were saved. However, the 38 people who witnessed a murder and didn’t bother to help fled or rather dismissed it. I don’t entirely agree with Golding, only some people will turn bad in the worst of situations, but with the Chilean miners, they made the best of their situation and didn’t have to do anything dire in order to survive. Other people make us moral, for example, in the This I Believe essay by Norman Corwin, it states that other examples of good will spread
Barrick Gold Corporation is the largest gold mining multinational company in the world, based in the Canadian city of Toronto .Barrick has several projects in different stages of exploration and development, counting more than 15 countries around the world among its projects.
The first collective employee reaction management will see, whether the entire reduction in force plan is revealed, would be that of the union(s) being up in arms that there will be any employees getting the pink slip. The on the job efficiencies and reduction in productiveness could occur if employees become disenfranchised and are left wondering on whether they have a job tomorrow. Managers and employees who generally have a minor trust issue normally will withdraw from each other, which will result in work team dysfunctional behaviors and creativity will stalemate. If left to its own devices, strikes, walkouts, or employee sabotage could become the extreme results of poorly constructed philosophy, policies, and management approaches.
In 1988 David Walsh founded a company that would cause a billions of Canadian dollars to be lost, the implementation of securities and exchange regulations, and the greatest gold mining fraud to date. However, the question that remains to be answered is who was truly at fault, and could the company have been honest and ethical in their actions? Bre-X Minerals Ltd. was a Calgary based company whose work with geologist Michael de Guzman lead them to discover “the world's largest gold deposit at Busang in East Kalimantan, Indonesia.” in 1996. (Walsh, 1996) Immediately, the once penny-stock of Bre-X Minerals rocketed to $250 Canadian (VW Staff, 2015), taking the whole Junior Mining market with them. (Brown Jr, Burdekin, 200, pp.277-288)
This article reports on the decline in Rio Tinto’s profit as a result of waning Chinese demand for Australian commodities, and the response of the company’s chief executive to the half yearly profit figures.
Centrex Metals Limited is a public iron ore mining company, which was found in 2001. This Australian company specializing in iron ore mining and exploration, which has its own operation and tenement holdings over iron ore resources. Their targeted iron ore resources are mainly in Eyre Peninsula located in south of Gawler Craton, South Australia; and they have been expanding their projects over Australia that are classified as Potash, Base metals and Gold exploration. They have been cooperating globally to expand their business. Centrex Metal Limited has been switching their business goal from iron ore over-exploration to diversify their products in order to lower its portfolio risks and their business
Group Strategy:“Invest in and operate large, long-term, expandable, low-cost mines and businesses, driven not by choice of commodity or region but rather by the quality of each opportunity in the most attractive industry sectors”(Rio Tinto annual report, 2012)
Due to bureaucracy policies and procedures, it sometimes becomes hard to come out with innovative ideas quickly at Rio Tinto. To streamline the bureaucracy, I recommend Rio Tinto to embrace open innovation through collaboration internally and externally. Rio Tinto should assemble a global task force across all the product groups committed to accelerating ideas from concepts to reality. Prioritization of good ideas needs analysis by potential impact, risk and time to market, and should quickly transition open ideation to define the project teams. The open collaboration should embed the four innovation pillars employees reward mechanism, idea generation, idea conversion and idea diffusion.
The report consists of three major parts, which are firstly divided into providing background information of Rio Tinto and its biggest competitors BHP and Vale in the mining industry. A SWOT-analysis takes into consideration the external factors of the market as well as the internal factors which may have an impact on the financial statements of Rio Tinto.
The decrease shows a prudent position particularly in when the world is undergoing economic recession; Rio Tinto Ltd reduced its reliance on debt to finance its assets. This also explained the 22% increase in current portion of long term debt, i.e. the company retired major portion of its debt holdings in the last year.
BHP Billion, a merging cooperation of BHP and Billion in 2010 (BHP Billiton, 2011), is a world leading company in mining and resource exploiting. According to ASX data, BHP Billion has the largest business scales in the Australian market, AU$166 billion of market capital and AU$71 billion of annual operating revenue in FY13 (Australian Securities Exchange, 2014). Over 128,800 employees and contractors work in 26 countries worldwide to create value for their shareholders (BHPB Annual Report, 2013). The core business has been classified into five units: petroleum, copper, iron ore, coal and aluminum, making 20%, 18%, 17%, 31% and 14% respectively in the revenue of FY13. It can be seen from Graph 1 that although iron ore was not the segment with the largest assets, it still returned with the largest revenue and highest ROA rate in 2013. The following paragraphs will focus on the strategy analysis on the segment of iron ore and how it can conquer possible threats
Rio Tinto had advanced marketing capabilities. Rio Tinto had favorable relationships with the British Government when it entered to uranium development in the middle of 1950. The marketers have good relationships with Rio Tinto due to the good way negotiation style of the company. The company has strong bargaining power and also good relationships with the governments. Rio Tinto approached the private sectors too to collaborate on mining with them. (Sugawara, 2012). Rio Tinto realized that matching the Ores to the right buyers is one of the marketing skills of the