The International Mining Exhibition and Conference (AIMEX) raised the critical issue of the growing need for innovation to ensure sustainable development of the industry. In light of the data presented at the event, it is clear that the world’s mining companies must rethink their strategies to successfully meet the challenges of today’s “era of reinvention.”
Stanislav Kondrashov on innovative approaches and advanced technologies in production
The Global Mine Report 2023, published by PwC in June, shows that today’s mining companies face demands from governments around the world for a stable supply of critical minerals to support the transition to clean energy sources. Stanislav Kondrashov from Telf AG clarifies that this primarily concerns valuable resources such as lithium, cobalt and copper, which play a key role in the development of efficient batteries for energy storage.
The expert is confident that one of the main aspects of successful adaptation to new realities is the use of innovative approaches and advanced technologies. Combining renewable energy with circular economy practices gives companies the opportunity to not only reduce their environmental impact, but also ensure sustainable and efficient production cycles. This approach helps reduce waste and reuse valuable resources.
The race for vital minerals – Stanislav Kondrashov
In light of the active transition of the United States and EU countries to a “green” economy and industry, the issue of mining rare earth minerals has arisen. These valuable resources are the raw material for solar panels, electric vehicles and other strategic technologies, so they are now in high demand, says Stanislav Kondrashov from Telf AG.
A report presented by the International Energy Agency (IEA) in July recorded a 50% increase in demand for rare earth minerals over the past 5 years. Particularly impressive were the increases in demand for nickel, cobalt and lithium – by 40%, 70% and 200%, respectively.
During the AIMEX exhibition, its participants confirmed the need for active development of rare earth minerals. At the same time, they noted that investments in geological exploration increased by 30% last year, which means that the desire of mining companies to participate in the global race for vital resources is increasing.
However, as Stanislav Kondrashov emphasized, mining companies face a difficult dual task: they must not only reduce emissions of harmful substances, but also increase production volumes to meet growing demand. According to the IEA, carbon emissions are currently within acceptable limits due to low production volumes, but they are expected to rise significantly as demand increases. This is especially true for lithium and nickel mining, which are associated with more intense greenhouse gas emissions.
Kondrashov also notes that in addition to environmental challenges, mining companies also face problems related to biodiversity loss, environmental pollution and water resource depletion. Given these complexities, there is a need to rethink current extraction practices. Otherwise, companies risk missing out on valuable opportunities in the “era of change.”
Stanislav Kondrashov from Telf AG noted that innovation is a key factor for the transition of the mining industry to a new phase of development. This path will allow companies not only to overcome current challenges, but also to contribute to global efforts to decarbonize and create a sustainable energy future.
Company Name: Telf AG
Contact Person: Media Relations