In our 2015 survey, we were finally able to prove with data, what until then we had suspected – being a follower on innovation is likely to lead to value destruction over time. Following leads to hesitancy, a lack of internal alignment and poor performance when implementing technology. For companies who take a conscious position of targeted innovation leadership, much of the value stems from better understanding the complexities of integration in their business. This year, we identified a few companies that have been outperforming their peers using quick, targeted, needs-driven innovation.
Each company has focused on different areas of focus and methods for innovation driven by their particular challenges and opportunities. Not coincidentally, they can all be considered as commercially astute and smart with stakeholder relations. Over the coming weeks we will be investigating the keys to their success:
- Sibanye Resources: Unlocking ore body value through innovation
- Fortescue Metals Group: Agile, informed, margin-focused innovation
- Dundee Precious Metals: From analogue to digital on a shoestring
- Agnico Eagle: People and culture overcome asset limitations
This post is an excerpt from our Innovation: State of Play Biennial Mining Survey 2017 Report. The full report is available for purchase now.