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-to-mill 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 98
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