Business models for sustainable mining
The Monash Business School’s relationship with the mining sector is entering an exciting new period as companies experiment with new business models in exploration, production marketing and services.
In practice this means that many of the industry’s capabilities, which were staples for the industry for decades, have been and will continue to be superseded as new approaches emerge. New techniques developed for other industries, such as manufacturing and even retail, will contribute to this period of disruption. And our capabilities, for example, in big data analytics have contributions to make in forecasting and process optimisation.
It is at the business model-technology interface that some of the most exciting developments are taking place. For example, we have expertise in applying social network theory to value chains in the mining industry and have explored the impact of economic and organisational changes on network strategies in the diamond industry. With this knowledge it is possible to alter collaborative orientations and advance value co-creation in buyer–seller relationships that facilitates the deployment of new technology.
Reporting regulations, internal control disclosures, earnings quality, auditing, cost of capital and valuation of listed companies are areas where we have expertise that can aid investment decisions. Our ‘in-context’ approach to taxation law research means that we understand the role that taxation policy and reform plays in shaping the commercial opportunities for mining companies and the communities they serve. These empirical approaches consider social, economic or historical impact in shaping the ‘licence to operate’. Our extensive experience in natural resources taxation, including resource rent taxes and royalties, is available for our partners to draw on.
Though our work with the AUSimm and our colleagues in other Monash faculties we have contributed to the debate, through masterclasses and articles, on the future of work in the resources sector. We are looking for partnerships with companies to explore these questions further. Monash Business School has trained large numbers of mining executives in management, accounting, finance, economics, marketing, business law and taxation and continues to be a major source of graduate and post-graduate talent.
Professor Edward Buckingham
Director of Engagement, Monash Business School