Navigating the mine fieldWith the prospect of a global economic slowdown, falling metals prices, increasing uncertainty about demand and tightening of capital markets, the global mining and metals industry is facing a new era of both challenges and opportunities.Our Global Mining & Metals Center connects a team of over 1,000 mining and metals industry professionals, including geologists, mining engineers, mineral economists and metallurgists. At the Center, we use our wide experience of working with the world’s largest mining and metals companies to help you to address your key business issues. This might involve helping you to overcome current sector issues such as rising costs, where we can help you to streamline operational and business processes and improve productivity on key profit drivers. In this environment of increased sector consolidation, we can assist you with your divestment strategies and the realization of full value at exit. If you are looking to expand your operations to new regions, you can draw on our deep understanding of how to manage operational risks — both political and otherwise. It’s the support you need to meet the challenges of today — and tomorrow. Read more about our services or visit the Global Mining & Metals Library for further related reading and thought leadership. | US Financial Reform Bill – implications for mining and metals companies On 21 July 2010, US President Obama signed into law the Financial Reform Act (pdf, 230.9kb) which has important implications for US registrants in the mining and metals sector. Sections 1502 through to 1504 cover the issues of conflict minerals disclosures, mine safety disclosures, and publish what you pay disclosures. In this paper, we have summarized what this means for impacted companies. Exploring IFRS Ernst & Young probes deeper into some of the issues mining companies will face under IFRS reporting, including financial statement and business impacts, the conversion approach and lessons learned from mining companies that have already transitioned to IFRS. Operational risk in the mining sector: a competitive difference This paper explores the strategies companies are adopting as they further develop their risk frameworks, including a risk culture, risk convergence, enterprise risk management and economic capital models. For a copy please email the Global Mining & Metals Centre. |
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ContactsTo talk with us about how we can put our Mining & Metals experience to work for you, please contact: Andrew Miller, Americas Mining & Metals Sector Leader Mining taxation annual report "Taxation of Mining Operations", an annual report published by LexisNexis Matthew Bender and prepared with the assistance of Ernst & Young's Mining Tax practice, analyzes the issues, laws, regulations, cases and rulings that govern federal income taxation of operations involving minerals other than oil and gas. Visit the LexisNexis Bookstore to purchase your copy. Global mining and metals tax survey Ernst & Young's 2009 mining and metals tax survey (pdf, 1.9mb) represents the views of tax directors from 40 of the top 100 mining and metals companies on the key challenges they face through all phases of the tax life cycle: planning, provision, compliance and controversy. The survey demonstrates the unique challenges facing this sector, particularly in a post-crisis period which has resulted in an intense enforcement focus on the extractive industry.
Refining IFRS Our "Refining IFRS" series aims to examine the complex, but unique, issues faced by mining and metals companies applying IFRS. The issues are considered in the context of recent and current developments in the global mining and metals marketplace.
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