Mining involves supplying core raw materials to global supply and value chains. Therefore, the mining industry plays an essential role in global economic and social development (Gedam et al., 2021). The transition towards sustainable environmental management is also important because the demand for mining inputs is expected to double by 2030 (Løvik et al., 2018).
Since minerals are limited and non-renewable resources, the industry must embrace new strategies and practices for ethical production and use. Adopting the ideas of the circular economy (CE) could be one such strategy.
The circular economy is having a significant impact on the mining industry, driving it to adopt more sustainable practices and reduce waste. Find below some key ways the circular economy is transforming mining:
Increased focus on recycling and reuse
Mining companies are recognizing the importance of recycling metals and minerals to reduce the need for virgin resource extraction. Recycling rates are increasing, with around one-third of copper demand now met by recycled copper. Investment in recycling facilities is expanding in regions like the Americas, UK, Europe and Japan.
Adopting circular principles at mine sites
Many mining operations are already integrating circular economy strategies to reduce waste, optimize water usage, and regenerate closed mine sites. This includes valorising and recycling waste streams like tires.
Collaborating across the value chain
Achieving a truly circular economy requires collaboration between mining companies, designers, policymakers and other stakeholders to create systems that incentivize circular practices. The mining industry is working with partners to promote responsible use and recovery of metals.
Innovating for circularity
To become fully circular, the mining industry needs to innovate, looking at both process and product circularity together. This involves delivering value to communities and nature at the mine site level, while ensuring the materials produced can be used again and again.
Adapting to growing metal demand
Population growth, economic development and the clean energy transition are driving surging demand for metals like copper, which is expected to double by 2050. Meeting this demand will require a combination of recycling and continued mining.
Overall, the circular economy is pushing the mining industry to rethink its role and embrace more sustainable practices. While challenges remain, the industry is making progress in reducing waste, increasing recycling, and collaborating to enable a more circular future.
Sources
Gedam, V. V., Raut, R. D., Lopes de Sousa Jabbour, A. B., & Agrawal, N. (2021). Moving the circular economy forward in the mining industry: Challenges to closed-loop in an emerging economy. Resources Policy, 74, 102279.
https://www.icmm.com/en-gb/our-work/innovation-for-sustainability/circular-economy
Løvik, A. N., Hagelüken, C., & Wäger, P. (2018). Improving supply security of criticalmetals: Current developments and research in the EU. Sustainable Materials and Technologies, 15, 9–18. https://doi.org/10.1016/j.susmat.2018.01.003
