August 26, 2015
Iron ore prices plunged below $50 a ton this year – down from over $130 last year – and there appears to be no end in sight. Mining companies around the world are scrambling to cut costs in order to compete with the world’s largest producers, who are still mining at a profit. Here’s my advice to mining companies AND their suppliers: take a look at your supply chain. It’s been an overlooked part of the business throughout the industry’s boom years from 2003 to 2014 – and I see significant cost savings potential in supply chain optimization.