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Mining products are essential in our lives. We need them to satisfy our everyday needs. The growing worldwide population, together with rising living standards, pushes up the demand for minerals. The mining industry faces continuous challenges to meet such demand and to fulfil the sustainability requirements imposed by the policy makers. Innovation is a key instrument to address these challenges. This chapter describes the mining industry and its major economic characteristics, discusses the role of innovation in the industry and the environment in which it takes place, and summarizes some of the major findings that emerge from the subsequent chapters in the book.
This chapter analyzes the recent evolution of innovation in the mining sector. It characterizes the mining innovation global ecosystem by looking at the technologies, countries and stakeholders contributing to technological change in the sector. It provides a detailed description of private stakeholders, such as mining companies and mining equipment, technology and service firms (METS), and public ones such as universities and governmental institutions. The chapter brings together aggregated innovation data with a novel unit-record database containing comprehensive patent and firm level data for the mining sector from 1900 to 2016.
This chapter analyses how innovation in the mining sector responds to changes in commodity prices. For this purpose, the chapter combines commodity prices data with innovation data as captured by patent filings extracted from the WIPO database. Patents registered by both mining companies and mining equipment, technology and service firms (METS) are included. Findings from a multi-country panel analysis show that innovation in the mining sector is cyclical: it increases in periods of high commodity prices while decreasing during commodity price recessions. Innovations react more to long price-cycle variations if compared to shorter ones. METS seems the driving force of this mechanism. Mining countries, as opposed to METS ones, are found to be slower in reacting to price changes.
People have been digging in the ground for useful minerals for thousands of years. Mineral materials are the foundation of modern industrial society. As the global population grows and standards of living in emerging and developing countries rises, the demand for mineral products is increasing. Mining ensures that we have an adequate supply of the raw materials to produce all the components of modern life, and at competitive prices. Innovation is central to meeting the diverse challenges faced by the mining industry. It is critical for developing techniques for finding new deposits of minerals, enabling us to recover increasing amounts of minerals from the ground in a cost-effective manner, and ensuring it this is done in a way that is as environmentally responsible. This book provides the first in-depth global analysis of the innovation ecosystem in the mining sector. This book is Open Access.
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