2547 Figure 5 A scenario of mine and plant improvement (base is from S&P Global, 2026) Addressing this challenge requires a fundamental shift from separate, fragmented efforts to coordinated collaboration across the value chain. Exploration must continue, and continuous improvement and innovation remain essential. However, these alone will not deliver the step change required. New business and organizational models are needed to unlock productivity gains, accelerate execution, and attract and retain talent. Without this shift, supply constraints will persist regardless of technological advancements. A practical roadmap begins with collaboration that respects antitrust boundaries while unlocking shared learning. While companies are reluctant to exchange commercially sensitive data such as grades or costs, they can collaborate meaningfully at the technology and systems level. Shared databases capturing lessons learned, operational experience, and technology performance focused on execution rather than investment decisions would accelerate learning across the industry and reduce repeated failures. Such collaboration requires strong leadership. A neutral champion, operating within an existing and trusted organization, is needed to convene key players, identify common “burning platforms,” and facilitate joint action. Priority areas include mining at depth, maintaining license to operate, and integrating mine-tomill processes through a systems approach. Addressing these challenges collectively is far more effective than fragmented, site-by-site efforts. Equally critical is a shift in how projects are set up, planned, and executed. Building a resilient production system requires systematic learning from experience and designing for robustness rather than optimization alone. Today, large mining companies account for approximately 40% of global supply. Resilience cannot rely solely on a small number of Tier 1 assets. A diversified production base is required: ten smaller mines can collectively deliver output equivalent to a Grasberg-scale operation, while also creating a buffer against disruption. Expanding the number of smaller, well-executed operations is essential to bridging supply gaps and strengthening system resilience. Talent attraction and retention represent another structural constraint. The industry must compete for the brightest minds, yet mining is no longer a default career choice for young professionals. A collaborative effort between industry, academia and governments is required to build capacity in locations where people want to live, supported by remote and digital operations. For example, urban hubs could serve as centres for remote mine operations, reducing the need for long-term residence at mine sites. At the same time, the industry must close the gap between academia and practice. Stronger involvement from mining companies in defining relevant research agendas, combined with meaningful work experience embedded within education pathways, is essential to developing the next generation of leaders. This is not only a workforce strategy; it is a productivity and innovation strategy. Designing Sustainable Prosperity provides a framework to enable these changes through codesigned regional initiatives (Hiam-Galvez, D. 2024). By aligning industry, governments, communities, and
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