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There is a pressing need for innovation in the mining sector, according to a report published by the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF).

The report highlights the pressing need for innovation in the mining sector, as productivity has decreased by 30 per cent, commodity price fluctuations are squeezing profit margins, costs continue to rise and deposits are increasingly difficult and expensive to access.

The report also highlights the social and environmental benefits of innovation, from increased safety on mine sites translating into fewer injuries and less downtime, to reduced environmental footprints and greenhouse gas emissions resulting from the adoption of new technologies and techniques, all of which could further support a company’s social licence to operate.

The report originates from the 2017 IMMS, which brought together 25 ministers responsible for mining around the world who requested the IGF prepare a report on innovation in the mining sector, to be presented at this year’s summit.