Barriers and drivers towards the approval and implementation of new technology in mining: A dilemma and exit strategies framework

The implementation of new technology in mining can be likened to a paradoxical situation or dilemma, where, on one hand, major mining projects are not able to solicit investor funding unless it is proven that the business cases were developed using tried and tested mining methods. On the other hand, new and innovative mining technology and mining methods need first to demonstrate and prove themselves under real production conditions over a reasonable period before they can be considered bankable feasibility studies in the mining industry. This dilemma locks new mining technology investments in a continuous cycle of underinvestment. Technological innovations are particularly relevant to the mining industry, which deals with the challenges of depleting access to resources, requiring new solutions to remain sustainable and competitive. In the last decade, the mining industry has come to realise that technological innovations can directly contribute to its sustained competitive advantage (Sanchez, Hartlieb, 2020), helping to reduce costs, lessen environmental impact, increase production, and improve mineral recovery. While understanding barriers and drivers for technology adoption is important for the success of technology implementation efforts and the sustainability of the mining sector (Muduli et al., 2013), this paper suggests strategies to exit the dilemma, proposing a preliminary framework.