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  • EY - Mining Eye Q4 2015 - EY - Global
    Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals Mining Eye Q4 2015 Mining Eye Q4 2015 Inside Overview Fundraisings Joiners and leavers Index constituents Index data Share Another tough quarter for junior miners AIM miners affected by wider volatility within commodities The Mining Eye lost 14 during Q4 reflecting deteriorating sentiment within the sector undoing Q2 gains and culminating in an annual loss of 13 The UK Mining Eye underperformed the Canadian Mining Eye which rose 2 during Q4 13 down in 2015 though it fared better than the FTSE Miners Index which fell 15 during Q4 and 48 in 2015 Iron ore copper and gold fell by 21 9 and 5 respectively during Q4 highlighting wider difficulties within metals over this period Within our mining top 20 China Nonferrous Gold recorded a 62 price gain in Q4 following the commissioning of its process plant and entering into trial gold production Mining Eye performance relative to peers last 12 months Source EY Thomson Datastream Net performance of key commodities and equities over Q4 2015 Source EY Thomson Datastream Fund raising on AIM remains difficult Q4 represented another subdued quarter with 67m raised through equity placements representing 4 of total funds raised from AIM Besides share placements by Dalradian Resources Bacanara Minerals and Metals Exploration funds raised were typically less than 2m European Metals Holding was admitted

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/EY-mining-eye-q4-2015-overview (2016-02-10)
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  • EY Cash in the ground - EY - Global
    public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals Make working capital work for you Make working capital work for you Unlocking cash in the mining sector Share Against a backdrop of price and currency volatility the mining sector s overall cash to cash C2C position has improved by 2 However these results were not sufficient to cancel out the 3 deterioration in C2C over the previous two years It remains unclear how much of the improvement is due to changes in commodity prices or changes in currency A comparison of the results between and within commodity groups shows they were far from uniform only three out of ten commodity groups and 46 of companies analyzed reported a lower C2C A clear shift in the sector Miners have increased their focus on freeing up cash to meet commitments made to shareholders around share buybacks and increased dividend policies This has forced a far greater focus on cash generation and improving working capital management For example we saw Rio Tinto announce they had released 1 1b of cash during 2014 through reduced inventory levels and improved management of receivables Improving working capital management The improved working capital performance has been driven by improved performance in both receivables and payables DSO down 5 and DPO up 2 partly offset by a poor showing in inventory DIO up 3 The inventory and payables differential DIO DPO was up marginally at 11 days The average C2C for the mining sector The average C2C for the mining sector was 38 days on a sales weighted basis Companies within each commodity group also show wide variations in working capital performance Iron ore displays the lowest level C2C of 23 days Platinum shows the highest level C2C of 82 days Copper gold aluminium and zinc stand in the middle ranging from C2C of 39 to 52 days Going forward we expect the working capital results to reveal even wider divergences in performance between commodity groups and individual companies based on the performance of the respective commodity prices Reductions in capex programs with some choosing to be more selective will be another contributory factor especially with miners taking a much more forensic look at sustenance capital and the resulting impact in inventory spares Looking forward to 2016 We still see a number of critical challenges that many of the miners will need to address to release cash from working capital including Cultural change such that all employees who can

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/EY-cash-in-the-ground (2016-02-10)
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  • EY - Debt in the mining sector - EY - Global
    Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals Debt in the mining sector Debt in the mining sector Liquidity vs solvency and maintaining financial flexibility Share There are signs of distress across the industry but situations vary significantly by corporate Continued deterioration in commodity prices has undermined cash flows putting pressure on serviceability of existing commitments This has affected some organizations more than others depending on prior strategies followed and use of leverage historically EY analysis into a sample of 88 companies has found 2014 capital investment levels still exceeded those in 2009 despite a comparable metal price outlook In addition although mergers and acquisitions have been subdued since 2011 we notice shareholder distributions have not fallen as sharply during this period It highlights how some management teams have persevered with existing corporate policies tapping credit lines to weather these difficulties There may be a number of reasons for this Believing spot prices represent temporary short term deviations from in house pricing curves Needing to recover costs from commissioning expensive mining projects The cost of moth balling capacity exceeding losses from continuing operations Appeasing shareholders by maintaining dividends shareholder distributions Coal steel iron ore and potentially aluminium may experience future difficulties This does not apply universally as it depends on previous management decisions along with country specific factors there will be winners

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/EY-debt-in-the-mining-sector (2016-02-10)
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  • EY - Global mining and metals tax guides - EY - Global
    and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals Global mining and metals tax guides Global mining and metals tax guides Share In an ever changing landscape like mining and metals organizations in this sector need to be abreast of new trends and changes to tax regulation We have global taxation specialists working specifically within the mining and metals space who are up to date with the latest regulations and changes to country specific tax regimes that might affect your business Questions surrounding fiscal regimes vary from country to country as do financing considerations withholding taxes transaction taxes and others We ve prepared country specific mining and metals tax guides that you can download from this web page to give you the very latest knowledge of the taxation requirements to consider in your region Should you wish to contact one of our Area contacts directly please click here to get in touch Mining and metals tax guides Americas Click on the country below to download the tax guide for that

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/EY-global-mining-and-metals-tax-guides (2016-02-10)
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  • EY - Global steel 2015-2016 - EY - Global
    Downham Global Mining Metals Transactions Leader EY Many steel producing countries still see themselves as isolated or domestic markets but that is no longer the reality Low cost excess capacity in one country is displacing production or sales in another and this is providing incentives for governments to implement regional policies to protect the domestic steel sector or even encourage capacity addition The largest surplus capacity today is in China The Chinese Government has awakened to the need to rationalize this excess capacity and is putting in place policy measures to deal with it Initiatives include domestic consolidation and enforcement of environmental regulations Given the social implications of these initiatives it will be a few years before the country achieves any meaningful capacity reduction While China deals with excess capacity it s the perfect opportunity for non Chinese steelmakers to remove inefficiencies and create economies of scale through consolidation Reasons for global excess capacity Steel players in the US and Europe have attempted to be in sync with the local demand Governments can play a facilitating role by aligning their social security programs to alleviate the potential pain of capacity closure Simultaneously governments need to focus on making steel companies more globally competitive rather than providing support in the form of subsidies or temporary trade barriers Investment in new steel projects continues despite slowing demand growth currency fluctuations and falling steel prices Pierre Mangers Executive Director EY Investors and capital providers must adopt dynamic demand forecasting models and robust project appraisal processes Then they need to test the underlying assumptions that result from these models and processes even when the investment appears to be logical purely in a national or regional context Increase market and product concentration Increase market and product concentration Several steelmakers are already focusing on growth strategies looking at how they can expand to gain access to areas of increased demand regardless of location Bob Stall Partner EY The global steel industry is relatively fragmented with the market share of top 10 steel producers at 28 being very low in comparison with the automotive or seaborne iron ore markets The industry went through intense consolidation from 1995 to 2005 in order to counteract the downturn Steel market concentration virtually unchanged from 1970 Source Redburn The inability of many in the sector to generate surplus cash or access capital has restrained further consolidation since the start of the most recent downturn Synergies and market access have been the major motivations for steel deals including selling off non core assets resulting in increased concentration in regional markets With the currently changing dynamics steelmakers are focusing on innovative growth strategies exploring how they can gain access to areas of increased demand regardless of location In areas with higher consolidation e g the US Japan and the EU steelmakers have gained market power In future the biggest impact in the global steel market will be felt when giant Chinese steel businesses emerge post their domestic consolidation Steelmakers will be seeking Economies

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/EY-global-steel-2015-2016?utm_source=EYCOM&utm_medium=MMCarousel&utm_campaign=GL_Steel_2015 (2016-02-10)
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  • EY - Business risks in mining and metals 2015-2016 - EY - Global
    metals sector before the boom as these professionals are best placed to deliver the changes needed to achieve better productivity in a cash strapped environment Companies should be investing directly in the senior experienced talent and upskilling new talent as the productivity challenges of today are only set to intensify Trends that are set to impact the supply of talent include An ageing workforce Increased competition as globalization means access to a wider talent pool Disruptive technologies changing the talent requirements A practical approach Talent management is a rigorous metric driven approach to sourcing and retaining the best talent optimizing productivity and maximizing performance Taking an analytical approach to such strategies allows organizations to create a competitive advantage by ensuring that any investment in people will support and help to deliver on corporate objectives Infrastructure access The rapid rise in demand during the super cycle challenged the supply to be brought on quickly The lack of available infrastructure biased mine development to those projects that did not require infrastructure As such the more infrastructure dependent projects have been left to be the new sources of supply for the next cyclical upturn To be ready for that time the difficult work of planning approving financing and even constructing the infrastructure needs to be done now However in an environment of softening commodity prices stretched balance sheets and increased scrutiny by stakeholders projects that need high levels of infrastructure investment will struggle to gain approval The issue is made complex by the large number of stakeholders in infrastructure and the expected benefits for each as well as the question of by whom and how the infrastructure is financed Financing models Mining and infrastructure projects typically involve multi billion dollar investments The projects can include equity as well as debt financing and are financed through one of the following models or a combination thereof Public sector investment Mining and metals organization as sole developer and user Special purpose vehicle Public private partnership Third party operator Take or pay contracts mitigate risk for infrastructure financiers Despite the concerns of operators and the market the contracts have ensured regular payments to the infrastructure provider and proved that they are largely invulnerable to commodity price risk Stakeholder agenda Different stakeholders have different tolerances to the various risks of infrastructure The innovative structures value price these risks to enable the transfer between stakeholders Having a common way of pricing these risks is critical to success The approach to infrastructure Due to the large number of stakeholders and the multiple agendas the risk profile of an infrastructure project has increased A more collaborative approach among stakeholders and regular communication around project benefits and timelines can lower the risk return ratios Access to and sustainable use of water Water is a shared resource and transparency around its use to the community and shareholders should be embedded in a secure water allocation plan Mining activities unless properly planned and managed can gravely threaten the quality of water making it unfit for other critical community uses Additionally any ad hoc approach during the establishment of a new mining and metals project especially in developing countries often sparks community unrest and can lead to irreparable loss of trust and cancellation of SLTO for mining and metals companies Understanding community interests and concerns addressing them early and managing them continually are essential to gaining and maintaining access to water Planning throughout the life cycle Operators need to undertake appropriate scenario analysis throughout the life of the mine to ensure sufficient water supply for normal operating conditions as well as extreme conditions and make appropriate contingency plans Decreasing your water footprint While increasing wealth from mining resources benefits the community it also leads to increasing expectations on water utilization In response organizations are starting to respond by decreasing their water footprint and making more water available to local communities This is increasingly becoming a part of organizations sustainability initiatives Having a robust water management plan and water accounting framework is as critical as ensuring its clear communication to stakeholders to ensure smooth commencement and operations while achieving a social license to operate Threat of substitutes The interplay between commodity prices technological innovation and changes to regulatory and environmental legislation often leads to substitution among commodities Price volatility across a number of commodities has led to commodity substitutions The significant rise in copper prices in prior years has led to substitution by aluminium Volatility in the prices and availability of rare earth elements has led to its substitution by alternative materials across various applications Commodity substitution is a larger risk in high cost or single commodity operations New technology is a disruptive risk which may spare the demand of some minerals over others Innovation has created a host of substitution opportunities and challenges for the sector Innovative technologies and methods of producing steel have led to substitution of metallurgical coal Energy coal continues to face stiff competition from natural gas for electricity generation worldwide particularly in the US Changes to regulatory and environmental legislation Environmental legislations that require automakers to manufacture light weight cars have resulted in aluminium being substituting for steel in the automotive sector An increasing focus on the recycling of e waste is expected to lead to substitution of primary metals with e waste recycling being made compulsory in some regions Responding to substitution Commodity substitution will impact the global supply chains of the affected commodities Companies will need to rebalance portfolios to Tap into new resources Reduce exposure of substituted commodities Keep abreast of emerging trends across commodities for timely intervention Stranded assets Stranded assets are the assets that have suffered from unanticipated or premature write downs devaluations or conversion to liabilities In the mining and metals sector the stranding of assets is being driven by changes in Technology Consumer choice Political influence Community support Environmental factors Examples of the stranding of assets include Assets stranded by infrastructure Higher cost assets such as steel mills which are being pushed out of the market by lower cost facilities in China and India Water intensive operations which are at risk of being stranded by domestic water prioritization or water stress Assets in locations where community support has been lost and projects can no longer be developed Mandated beneficiation where the cost of investing in beneficiation of the commodity in the country of origin is too high or where it is risky to maintain operations Assets stranded by government policy for example ban on uranium mining Assets stranded due to delays in securing mining approvals The assets at the highest risk are those related to fossil fuels oil gas and coal due to internationally agreed climate change targets The key factors that could change the use of coal are Political interventions that support alternative energy or suppress coal use Disruptive technologies which are either those that will drive stranded assets or those which would support coal use with less emissions Not all coal is created equal If restrictions on emissions increase higher quality coal will start to play an increasingly important role in the market and this is where the stranded asset risk will come into play Pipeline shrinkage Falling commodity prices and the short term focus of many investors have taken their toll on mineral exploration Investors are largely focusing their attention on near term returns and the avoidance of excessive risk Therefore junior exploration companies who historically undertake most of the industry s exploration activity have been unable to secure the risk capital needed via the public equity markets to further their exploration activities Exploration budgets in decline SNL s 2014 Corporate Exploration Strategies study points to a second year of decline fornon ferrous exploration budgets down 26 y o yin 2014 following a 30 decline in 2013 Juniors share of exploration activity continues to decline and perhaps of more concern the share of budgets directed to grassroots exploration has fallen to an all time low at 30 behind minesite exploration at 31 This situation raises the prospect of a shrinking pipeline of supply to feed the longer term economic industrial and strategic demand for minerals Boom and bust cycle continues Urgent advances and innovation are needed in exploration funding technology and regulation within the context of an industry and its shareholders that are better prepared for and more focused on a longer term through cycle disciplined growth agenda With market values depleted sometimes to below cash levels continued equity dilution is both implausible and unsustainable As such we see a greater role for Joint ventures Venture funds Government incentivization Cross border capital flows Fraud and corruption The controls around fraud and corruption are becoming more stringent as more measures are legislated and transparency becomes increasingly important Rapid growth markets offer a range of opportunities for mining and metals companies If companies are to realize these opportunities it is critical that they understand what constitutes fraud and corruption and conduct themselves responsibly following leading principles of governance The controls around fraud and corruption are becoming more stringent as transparency becomes increasingly important As corruption is seen as a drain on economic energy and anti corruption has become a politically powerful movement several governments are introducing stricter legislation to address the issue There is such an international groundswell of anticorruption activity that most companies will soon be obliged to align with multiple jurisdictions or risk compromising their ability to do business cross border Mitigating risk from fraud and corruption A comprehensive robust and contemporary risk management framework will go a long way towards protecting your organization against future threats and minimizing damage if an event does occur It is critical that mining and metals companies Undertake detailed due diligence on all new agents suppliers contractors employees subsidiaries and other entities with which the company is dealing Establish compliance strategies that encompasses employee training highlighting the steps they ought to take to comply with anti corruption policies guidance on red flags whistle blowing and regular monitoring Undertake detailed due diligence investigation into the operations of an M A target The due diligence process supported by indemnities and warranties can unearth potential risks and liabilities that may help reduce buyer risks Companies can also utilize forensic data analytics FDA and other modern analytical techniques to uncover possible fraud and corruption Sharing the benefits Sharing the benefits across the stakeholders can lag the cycle and thereby increase strain on an already strained sector Managing stakeholder expectations is a large component of success The mining boom of the last decade greater democratization and political participation of unions has increased the pressure on governments to ensure that the broader group of stakeholders receive their fair share of benefits from mining and metals projects Although in the current business climate most governments and policymakers have become more pragmatic in the expectation of economic rents to either attract or preserve investment it is imperative that the expectations continue to be carefully managed Despite the commodity price downturn and falling labor productivity workers and organized labor in many mines are still seeking increases in real wages and using strike and stoppages as tools to pressure for this Mines with higher labor intensity are most exposed Outlook During the down cycle it is all the more important for industry participants to embrace a multistakeholder model to manage competing stakeholder expectations and undertake structural reform Employee community and government engagement has to be balanced with shareholder expectations ensuring adequate returns for their risk Climate change Global action against climate change is regaining momentum Mining and metals organizations need to be more proactive in addressing the business risk as this directly affects their likely cost of doing business and social license to operate Environmental groups are targeting miners involved in extracting fossil fuels through protests and legal action Ethical investing is also on the rise with many religious and educational institutions withdrawing funding for fossil fuels miners while institutional investors are under increased pressure from environmental advocates to withdraw their support of businesses in carbon intensive sectors Global initiatives Newer more refined and broader reaching global initiatives on climate change are beginning to appear affecting most of the major mining regions around the world In December 2015 196 countries will meet and sign a climate change agreement in Paris to commence in 2020 The aim is to reach a universal and legally binding agreement that will help the world tackle climate change and provide a structured transition towards a low carbon global society Climate change targets are inevitable and companies are increasingly accountable for their role in addressing this issue Tougher targets and increased costs As an energy intensive industry emitters of fugitive emissions and producers of hydrocarbons this will come at a cost for mining and metals organizations Climate change adaptation The most significant impacts on the mining and metals industry are expected to be Public pressure to change the energy mix Increased water stress in many producing areas Increased frequency and intensity of storm events requiring changes to mine design and increased operational disruption More extremes in operating temperatures requiring more protection for employees and equipment Greater risk of disruption or loss from wildfires Supply chain disruption Greater variation in customer demand Increased post closure liabilities Workforce exposure to new diseases The mining and metals sector is only now developing strategies to eliminate or avoid risks to mitigate or protect against these risks or to plan to remedy the impacts Geopolitical uncertainty Geopolitical uncertainty is a risk that lies outside the control of a company but can have a major effect on its growth plans It can also threaten the safety of life and property disrupt operations and destroy shareholder equity The impact of geopolitical instability can extend further down the value chain and cause A collapse in consumer demand An increase in currency volatility Disrupt critical infrastructure and transportation networks The long term effects can be more damaging subsequently leading to possible shift in the political social or regulatory environments Some of the impacts are explained below Social impact Possible loss of life and property are some of the most devastating impacts of a geopolitical risk causing a disruption to business activities and triggering unemployment Supply demand mismatch Collapse in demand or restriction in supply availability are major consequences of geopolitical instability in a region As a result companies may experience a drop in productivity an increase in costs and decreased profitability Economic and financial impact Subdued industrial activity in a conflict ridden region and regulatory control action by the government are likely to impact the economic growth and trade in the affected region as well as in the regions with which it trades Increased volatility Geopolitical issues exacerbate volatility in commodity prices currencies and equities directly impacting a company s earnings Organizations can efficiently manage the risk by adopting the following measures Diversification Organizations should focus on diversifying their geographic portfolio and reducing their dependence on a single source of risk Identification and assessment Companies must have a strong early warning system for the identification of possible instability changes to the operating environment and have requisite systems in place to identify the possible disruptions to its workforce supply chain and infrastructure Business disruption planning continuity planning An organization needs to focus on getting the right insurance coverage for operations and also have emergency procedures and evacuation strategies in place Rising regulation Mining and metals companies have never faced so much regulation as today in multiple jurisdictions The factors driving this increased regulation are Social license to operate increasing formalization of the social license to operate SLTO by governments responding to community demands to increase the accountability of mining and metals companies Greater democratization and use of government to protect community and other stakeholder interests the political process has an impact on all aspects of the regulatory environment that is the legislators the judiciary the executive and the civil servants Anti corruption initiatives the rise of more impactful anti bribery legislation and disclosure standards such as Dodd Frank Act in the US the UK the EU and Canada has increased the compliance and reporting load Conflict mineral reporting the Dodd Frank Act in the US and voluntary codes such as the World Gold Council Conflict Minerals Standard The rise of resource nationalism more complex taxes and royalties have led to more extensive and intrusive reporting Even where direct reporting to revenue authorities may be lower there is a greater emphasis on tax transparency reporting to demonstrate a fair amount of taxes have been paid in each impacted jurisdiction Compliance with increasingly complex international sanctions the use of economic and financial sanctions as a tool of geopolitical consequence management have significant impacts on mining and metals companies that operate globally and have global supply chains New regulation of commodities trading the convergence of the physical markets with derivative markets has led many governments and regulators to extend increased regulation to commodities trading since the global financial crisis Access to energy water and infrastructure as greater competition for the use of these resources emerges the means of access monitoring and dispute resolution increases the amount of the publically administered process The increased volume and scope of regulation is increasing the cost of compliance the risks of noncompliance and delays while interacting with the regulators While there is a broad global anti corruption agenda this rise of regulation not only slows the pace of business and increases the cost but may also increase the potential for corrupt officials to use regulation to attempt to extract financial benefit Moving into the driver s seat Moving from the back seat to the driver s seat Mining and metals companies are grappling with unprecedented global supply restructuring in the wake of the super cycle Those that best manage the ever evolving business risks will be best positioned to survive and thrive in the next cyclical upswing Future growth productivity and capital access are the top business risks for miners The switch to growth is looming and assets

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/Business-risks-in-mining-and-metals?utm_source=EYCOM&utm_medium=MMCarousel&utm_campaign=Business_risks_MM_2015 (2016-02-10)
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  • About our Mining and Metals services - EY - Global
    Automotive Transportation Consumer Products Retail Financial Services Wealth Asset Management Banking Capital Markets Insurance Government Public Sector Health Life Sciences Media Entertainment Mining Metals Oil Gas Power Utilities Private Equity Real Estate Hospitality Construction Technology Telecommunications Services Advisory Actuarial Customer Cybersecurity Finance Financial Services Risk Management Internal Audit People Advisory Services Program Management Risk Assurance Risk Transformation Strategy Supply Chain and Operations Technology Assurance About Assurance Services Accounting Compliance and Reporting Climate Change and Sustainability Services Financial Accounting Advisory Services Financial Statement Audit Fraud Investigation Dispute Services Tax About Our Global Tax Services Country Tax Advisory Cross Border Tax Advisory Global Trade Global Compliance and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals About our Mining and Metals services Mining Metals Overview About our Mining Metals services Advisory Assurance Tax Transactions Library Contacts Share About our Mining and Metals services Our Global Mining Metals Center is where our clients and sector professionals come together in a think tank environment to collaborate on risk audit transaction and tax solutions to your

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/Mining-and-metals_About-our-Mining-and-Metals-services (2016-02-10)
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  • Advisory - EY - Global
    Tax Advisory Cross Border Tax Advisory Global Trade Global Compliance and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Industries Mining Metals Mining and metals advisory services Mining Metals Overview About our Mining Metals services Advisory Assurance Tax Transactions Library Contacts Share Mining and metals advisory services We work with clients to improve the performance by examining every aspect from supply chain management business processes and IT risks to future directions and opportunities for growth Risk services We are acknowledged as the leading professional services firm to assist with the identification of strategic risks in the mining and metals sector Most mining and metals companies require our assessment improvement and monitoring of risks to include operational risks Our sector risk specialists are equipped to review such operational risks as mine closure planning grade control process ore reserve estimation process and mine security Performance improvement Supply chain and operations To improve cash flow and profitability our professionals provide insight into supply chain improvements by addressing critical areas and focusing on running end to end

    Original URL path: http://www.ey.com/GL/en/Industries/Mining---Metals/Mining-and-metals_Advisory (2016-02-10)
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