Transforming Industries:

FUTURE OF MINING


The mining industry faces complex challenges to ensure its competitiveness. These challenges relate with productivity, sustainability, digital transformation, human capital, operations, legitimacy, and the relationship with communities, just to name a few.

We are working to tackle these challenges and use them as leverage for the country’s technological development. We firmly believe that they bring forth a unique opportunity for productive diversification and sophistication.

We promote the generation of knowledge as exportable services and products, and applicable in other key sectors within the country. The ultimate goal of these projects is to increase the knowledge and sustainable attributes contained in each ton of exported copper, in order to uphold the industry’s competitiveness and to use this sector as a driving force of development.

Mining has the critical mass, depth, and sophistication capable of bearing the development of an innovation ecosystem revolving around it. Addressing the challenges with an open innovation approach has both the effect of enabling mining in Chile and of developing a mainstay of technology-based suppliers that, in return, legitimize this sector.

Chile produces 1/3 of the world's copper and owns 1/3 of its ore reserves.

OPEN INNOVATION IN MINING

We are certain that open innovation is by far the most effective alternative to find solutions to unknown problems given the companies that practice this approach can opt for an infinitely larger set of capabilities in a considerably larger cost efficient and flexible way.

Open innovation means that companies “open their doors” to find solutions to the challenges they face. That is, instead of trying to find the right questions and answers with only their internal resources -talents, services, and financing-, they actually do so by collaborating with the ecosystem: suppliers, entrepreneurs, researchers, venture capitalists, and other enterprises.

However, open innovation does not happen spontaneously due to asymmetries in information and power of negotiation, coordination costs, or failures to access.

Our trajectory and characteristics enable us to implement a role in this area, bringing together relevant actors capable of mobilizing the market. Our Future of Mining initiatives have a number of elements in common: they connect demand, supply, and enabling agents; they are public-private partnerships with multiple actors, they have a robust governance model and an income model that legitimizes it. The challenges in the industry -demand- are the driving forces behind them.

Our Future of Mining initiatives are part of the strategic program of the 2015-2035 Mining Technological Roadmap presented by Programa Nacional de Minería Alta Ley.

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