To remain globally competitive, Australian miners have to go beyond the basics and incorporate a structured approach to innovation across their operations, as the local mining sector is running out of ways to cut costs and improve efficiency, a new study by Deloitte has warned. Titled ‘Innovation in Mining: Australia 2016’, the study suggests that mining companies must embrace innovation or risk causing lasting damage to the industry. “The mining sector has been through an intense period characterised by commodity price volatility, a slowdown in Chinese growth, difficulty in accessing capital, competition for capital from the renewables sector, and the need to address serious environmental concerns,” Deloitte national mining leader Nicki Ivory said on Monday.
