We use the word innovation constantly whether in technical meetings, around the Boardroom table or at the myriad of conferences across the globe. Innovation is front and centre in the mining industry, so much so that it is rapidly becoming overused. If you put 10 people in a room and ask for a definition of innovation, I guarantee you that you will receive 10 different definitions. At the time of writing, a quick search for “definition of innovation” on Google produced over 150,000,000 pages! If we go one step further, a search for “types of innovation” yielded over 221,000,000 results. It is no wonder we get confused and are challenged to really innovate; we don’t even know what it is!
Companies or individual we consider to be highly innovative don’t subscribe to the formal definitions of innovation or the 3, 10, or 221,000,000 types of innovation. Rather true innovators and innovative companies are all driven by the same question;
How do we change our world?
The definition of innovation, and I mean true innovation, is the practices, procedures, tools, technologies etc. that we use to change our world.
In the business of mining, we tend to label business improvement or optimization activities (eg automation) as innovation. Switching fuel sources from one carbon based fuel to another is considered innovation Although improvements or cost savings may result, they are not true innovation. Innovation requires us to jump the curve and in return will yield a minimum of double digit returns.
Let me ask you, are you ready to really innovate and change the world of mining?
At CMIC we are all about fundamentally transforming mining and created an innovation strategy to get there!