Key facts
- Data and AI are increasingly vital assets for resource exploration firms.
- AI is reshaping M&A strategies in the mining and metals industry.
- Deloitte's 'Tracking the trends 2026' report identifies data and AI as key performance drivers.
- The mining sector is moving towards a cooperative model to address challenges.
- Data analytics can reduce mining operational costs by up to 15% and boost productivity by 30%.
Data and artificial intelligence are becoming indispensable assets in the mining and metals industry, fundamentally altering operational strategies and M&A approaches, according to insights from Deloitte. David Hill, a Deloitte M&A expert, highlighted that AI capabilities are transforming how companies engage in M&A deals, driven by rising operating costs and extraction complexities.
Deloitte's 18th annual 'Tracking the trends 2026' report emphasizes that the future of mining will be shaped by cooperation, with data and AI playing a pivotal role in accelerating exploration, enabling smarter operations, and building resilient value chains. Critical minerals are now central to national security, necessitating strategic collaboration and alignment with both security and sustainability goals.
Deloitte Canada has launched an ambitious 11-week program designed to rapidly overhaul how mining companies manage their data, aiming to enhance operational efficiency and decision-making. The adoption of data analytics in mining operations can lead to significant cost reductions, potentially up to 15%, and productivity improvements of as much as 30%, according to a report by the International Council on Mining and Metals (ICMM). A 2024 McKinsey & Company study indicated that companies integrating data analytics saw an average 12% increase in profitability within the first year.