In my previous Intelligent Miner article, we discussed how putting people at the core of mining projects is a key factor in their success. However, the mining industry struggles with attracting and retaining the necessary talent.
Historic employment issues mainly stemming from mining’s cyclical nature are now exacerbated by the looming retirement statistics – in the US, up to half the mining and metals workforce is set to retire in the next five years, and 50% of all skilled engineers in the next decade.
As most know, there is a visible warning with a tsunami; the water recedes significantly for a period, and then the tidal wave rushes in. We are at the point now where the water is out, and mining companies and service providers must act quickly to avoid the impending grey tsunami of retirements.
The next five years are critical
Here, several strategies to stem the impact of the wave of retirees are presented, but first, some statistics. How many meetings do you attend where leaders or board members have decades of experience?
This may be comforting today, but what will happen to that team in five years?
Although, the average age of mining professionals in the US and Canada hovers around a reasonable 46 years, that figure masks the workforce’s gaps in actual ages.
Many current mining executives started their careers in the 1980s and most are above that average age, citing 40 plus years of experience. The average age of mining directors is 60.7.
The major market downturns in years such as 1998, 2008 and other lesser dips like 2018, saw many leave mining for good and certainly, new graduates avoided the industry during those periods.
The impacts of downturns vary from one commodity to the next, but one thing still holds, volatility, which drags on in the form of workforce retention.
In addition, mining employment in the US fell approximately 20% in the past decade with competition from other industries, such as the technology.
Currently the mining workforce is aging, over half of mining workers in the US are over 45 years old, and with historical hiring gaps, it’s common to have a decade or more age difference between direct reports.
As a result of the tight labour market, people are commonly promoted ahead of their time to fill the void. The flipside consists of some people hanging onto their position or board seat to protect their ‘retired-in-place’ status for various personal reasons, hoarding institutional knowledge, and not making way for the next round of people who would advance professionally.
Finally, with cronyism and hiring like-people rampant in the industry, including on mining boards, often leaders not only surround themselves with former colleagues, but people of the same age!
Seize the moment with returnships
In this current lull before the 2030 gray tsunami, companies must be creative and proactive and ultimately take a broad, strategic view beyond traditional succession planning, ticking the box exercises and the next quarter’s results.
I spoke with Lindsey Schultz, CEO of MRC Recruiting, who shared the employment statistics above and her thoughts on the tsunami.
“The mining industry is entering a period of transition as experienced professionals retire, creating both a challenge and an opportunity,” she said. “Now is the time to think differently about how we bring people into this industry and how we support them once they’re here.
“That means engaging new graduates with clear development paths, retraining and upskilling talent from other sectors, and investing in mentorship, sponsorship, cross-training, leadership programmes and returnships.
“More importantly, it’s about creating workplaces where people are led well, can grow, and feel their contributions matter. When we build companies around people – not just roles – we support both individual aspirations and the long-term success of the business.”
Unpacking Lindsey’s ideas, the concept of ‘returnship’ was new to me. In the simplest terms, a returnship means that a retiree comes back to a company in a different capacity to fill a gap with the intention to transfer knowledge and skills, not climb the corporate ladder.
I know several people who have retired to golf or garden for six months and then came back as consultants to the same company. However, the traditional consultant model can be cost prohibitive, particularly to smaller companies, and training or knowledge transfer might not be a priority due simply to economics.
In contrast, the benefits of returnship include near-zero ramp-up time due to prior corporate knowledge and the ability to jump to problem solving.
It’s not ad hoc, rather a returnship is a deliberate targeted programme to transfer institutional knowledge and, as such, forms part of an overall retention and succession planning programme, with an aim to close skills gaps. Importantly, the retiree has flexibility and control over the time commitment.
Succession planning is not just filling in forms
Currently, the mining industry is experiencing a shortage in both operations and project personnel and there is an overreliance on contract workers or mercenaries, particularly for international postings.
Domestically, companies struggle to find people from within mining. However, in recent years, the industry has recruited talent from other industrial sectors, particularly oil and gas and technology. Expanding the talent pool is an opportunity that supports succession planning, diversifies thinking, and reduces the risk posed by impending retirements.
Often, succession planning stops with naming who will replace you in 5-7 years, without a focus on the necessary talent development or acquisition in the immediate years.
With the void outlined below by Annie Laurenson, Mining Governance Professional and Corporate Director, a structured plan is required, regardless of the company’s size.
“The generational gap in mining – often spanning 20 years or more – is creating real pressure across the workforce, from frontline operations to the boardroom,” Laurenson explained.
“As experienced professionals and directors retire, we are seeing a vacuum that can’t be filled without intentional planning. Succession isn’t just about identifying replacements, it requires structured mentorship, knowledge transfer, and a clear development path to leadership.
“This challenge is especially acute at the board level, where access remains limited and often dependent on being part of a long-standing network.
“If we want truly diverse, future-ready governance, companies and boards need to widen the gate – not just the pipeline – and invest in cultivating the next generation of directors with the same seriousness they apply to operational succession. These aren’t problems that solve themselves. They require strategy, commitment, and time.”
Laurenson’s point about time resonates, because the focus on the bottom line instead of people has left the mining industry vulnerable to the grey tsunami, despite the early warning signs over the past decade.
In her new book, “Regenerative Leadership, Secrets from the Farm”, Mary Garden describes the parallel between farming and leadership and the need for a long view.
“Regenerative farming, like regenerative leadership, requires a shift in mindset,” she said. “It’s not about extracting the maximum yield in the shortest time possible, but about nurturing the land so it can thrive today and continue to provide for generations.”
Mentorships take time and energy
Many majors have gone outside of the mining industry to find new talent and have succession planning and programmes in place for future leaders, but often there is not a solid mentorship programme.
Training programmes for high performers do not transfer institutional knowledge and lessons learned in the same way as a formal mentorship programme.
For mid-tier companies and below, these programmes are often non-existent and seen as luxuries, with the return on investment questioned.
Setting up mentors from in and outside the industry and at various levels, including board members, can better support growth. And there is the potential to combine returnships with mentoring programmes to ‘mine’ that institutional knowledge in another fashion.
The time to act is now
In my consulting work, the technical issues that companies and projects experience are typically not the stumbling block; it’s people, relationships and leadership.
In order for the mining industry to thrive, companies must hold back the impending grey tsunami, to avert a serious crisis in the next few years.