Breaking into Mining: Foundational knowledge sharing for innovators

By Jake Harris

My role within the mining sector often defies easy categorisation, particularly when speaking with those from outside the industry. Innovators struggle to grasp how mining companies approach technology, external engagement, and problem statements. This isn’t surprising given that mining’s innovation landscape can be layered and complex to navigate. Often opaque with outcomes of past projects and success stories.

The scale of opportunity within the sector, however, is huge, yet widely misunderstood. Many overlook the depth of technical challenges being tackled and accelerated simultaneously.

For many, the sector represents a significant growth opportunity, yet understanding how to access it can be a challenge. Below, I share some of the learnings for those considering engaging with the mining sector and some of the mechanisms to explore and debunk some common misconceptions for early market engagement.

BIGGER IS NOT ALWAYS BETTER

The mining sector is split into tiers and these need to be considered when considering a market approach.

· Tier 1 (Majors) operates large-scale, varying commodity mines across the globe.

· Tier 2 (Mid-Tier) is sizeable but generally focused on a tighter commodity profile for extraction. They operate in certain regions and do not have full global reach.

· Tier 3 (Junior Miners) generally are emerging operators from exploration activities or who operate and older, unloved assets. They often operate in just one region, with some limited international activities.

So why does this matter for innovators or businesses looking to break into mining? Because the way these companies operate, how they engage with new ideas, make decisions, and adopt technology varies massively.

Examples of mining operators and their respective tiers (Australia-focused). Source: CapXPro.

Approaching and selling into a Tier 1 miner is a complex affair, with 10,000+ employees, figuring out who makes decisions is a challenge in itself. And even if you find the decision makers, getting through procurement can be a slow, complex process. In my role, I often see innovators trying to go straight for Tier 1 miners, treating them as landmark deals. The logic makes sense, land a “whale,” and you’ve got a landmark client for credibility and further scale.

I would usually advise looking at the mid-tier miners instead, if not simultaneously.

Mid-tiers are often the best entry point. They have smaller, more agile organisations, fewer layers of bureaucracy, and more flexible procurement processes that can adapt to early stage engagements. They’re large enough to matter but small enough to move at speed!

Another key factor is impact. In a mid-tier business with three operations, a 5% increase in machine availability at one site can deliver a dramatic bottom line improvement. In a Tier 1 miner, with dozens of sites and some of the largest operations on Earth, that same 5% improvement can get lost in the noise.

Is the same true for Junior miners? They’re typically late adopters. With a sharp focus on keeping costs down and staying afloat, they tend to follow the majors and mid-tiers in adopting new tech.

UNDERSTAND PROBLEMS AND LANGUAGE

The mining sector operates across diverse jurisdictions, each with various methods for extracting ore, and its own language to match. Take underground mining, for example. In Australia, a jumbo rock drill handles both tunnel advancement and ground support installation (mesh and bolts). In most other regions, a separate bolting rig works alongside the jumbo, reinforcing the tunnel independently. The same tasks but different fleet setups lead to entirely different challenges and problem statements.

These nuances matter when engaging mining specialists. Two operations mining the same commodity underground can face vastly different issues depending on their fleet, mine design, or external geotechnical factors. Recognising and understanding these subtleties can give you an edge in early discussions. Yet, many innovators entering mining aren’t from within the sector and can’t prove even simple domain knowledge when asked. I’ve lost count of how many AI companies pitch “anything” data science related to mining.

A series showcasing mining operational slang and variance in language. Source; Agnico Eagle

Specifying no setting, machine, or workflow where it adds value. For decision-makers who are mining experts first, this lack of technical grounding makes technical consideration & engagement difficult. Without context, even the best tech can be a hard sell!

Beyond that, mining language itself shifts across regions. Machines, activities, and processes might be functionally identical but have different names depending on where you are. Knowing the language shows you’ve done your homework and in an industry built on deep technical expertise, that can be the difference between getting a meeting or being ignored.

BE THE FIRST, TO BE SECOND

A phrase I picked up early in my mining technology journey was: “We want to be the first to be second.”

It sums up a common industry mindset that innovation, especially the hard-to-commercialise concepts, is best proven by someone else first. Once it’s derisked in an operational setting, others will follow fast. This isn’t universal, but it’s a recurring theme worth noting. The ability to “fast follow” those who’ve absorbed the risk is a well-trodden path in mining tech adoption.

For innovators, this reinforces the need to focus on landing and delivering value at one, possibly two operations first. Prove it, iron out the early issues, and only then start thinking about further market engagement.

Despite mining’s massive revenue base, the pool of potential adopters is surprisingly small compared to other sectors. That makes finding the right early adopter crucial! Once located, work with them, get commercially proven, and chances are others watching from the sidelines will come knocking soon enough!

A recent wave of innovation that has achieved full commercial adoption in under five years is autonomous underground drones. Three major competing systems are now in operation across underground mines worldwide. Source: AUSIMM

SUMMARY

Mining’s approach to technology adoption is often misunderstood, and due to the requirements of the energy transition, sharing knowledge is more important than ever. The possible mining customer base differs in size and decision-making processes, and many prefer proven solutions over first deployments. Targeting mid-tier miners, who are large enough to support new concepts but small enough to move quickly, is often a good strategy.

Like any sector, there are nuanced, best-practice ways to engage and a basic strategic approach that needs to be considered. The shared knowledge above should help innovators consider mining for the first time. If you have any thoughts, or feedback or want to learn more – please get in touch!