Challenges and opportunities for mining companies
The development of a circular economy in mining presents both challenges and opportunities for mining companies. It has the potential to address the shortage of mineral resources, waste of resources and environmental pollution while generating economic benefits.
The circular-economy approach prioritizes reusing materials over extracting new raw materials. However, the need for virgin materials remains, and wherever they are used, their footprint should be as small as possible.
Also, companies in all industries are under pressure to reduce their environmental impact. This will drive an increase in the demand for sustainably mined products, which poses a challenge for mining companies, but also opens new opportunities.
In order to reduce the footprint of the products they offer, mining companies will need to find ways to maximize the efficiency of their operations to minimize the use of energy and other inputs, while reducing waste as much as possible.
Climate Change and the pursuit of sustainable energy are shaping the global economy of the future, driving the transition from a linear to a circular economy model. The mining industry is already adapting and shifting towards a Green Mining approach. As a large consumer of energy, water and chemicals, it is a prime example of a sector where much can be done to reduce the impact on the environment. However, it is vital that it achieves this move towards sustainable practices without losing sight of profitability. TOMRA’s advanced sensor-based sorting technologies address the main challenges the mining industry faces today, such as declining head-grades and increasingly difficult to access ore bodies, rising energy and labor costs, and increased environmental liability, while providing a highly cost-effective solution for mining operations to participate in the circular economy and make the most of the new opportunities it brings.