Driven by cost savings, mining companies are beginning to adopt greener technologies, spawning a cottage industry of companies aimed at helping the mining industry clean up after generations of inefficiencies and waste, according to a new report profiling 47 new mining technology innovations.
Rising costs, falling productivity, market demands and social upheaval are among the drivers of important new green innovation in mining technology, according to green-tech analysis and consulting company Kachan & Co.’s latest report, Emerging Green Mining Innovation: Managing risk and profiting from new mining technology breakthroughs.
Despite years of criticism, “few realize there’s a large and growing set of companies developing new technologies to make mining more efficient and safer for workers and local communities,” said Kachan associate Kathy Chen. “Innovative technology companies are finding opportunities in addressing common criticisms of mining.”
The 52-page study defines this technology taxonomy, while uncovering and profiling dozens of companies that are developing new green mining technologies. Sectors examined include power reduction, fuel and maintenance, toxicity reduction, emissions reduction and water reduction.
“Forward-thinking mining companies are incorporating some of these into operations and already realizing value,” said Kachan Managing Partner Dallas Kachan.
Economic benefits aside, the report notes green mining technologies can offer increased job satisfaction and mitigate social justice tensions; among 22 recommendations, the reports found these can also provide a safer working environment for miners.