Rules of Engagement for the Innovator in the Mineral's Industry

Abstract

The word innovation derives from the Latin word innovates, 'to renew or change'. Innovation differs from invention and improvement and possibly the more useful of its many meanings ' is significant positive change'. Innovations theory that seeks to explain how, why, and at what rate new ideas and technology spread through cultures was first started in 1903 by seminal researcher Gabriel Tarde. Clayton Christensen classifies innovation into three type categories, efficiency innovations, which produce the same product more cheaply, sustaining innovation, which turns good products into better ones, and disruptive innovations, which transform expensive, complex products into affordable, simple ones. A company's biggest potential for growth lies in disruptive innovation. A number of books and survey information are available on how innovation has worked (or not worked) in the commercial consumer sector but very little information exists for the mining industry. In order to get a better understanding of how innovation has worked in the mining industry a survey was undertaken using a selected group of people that have been involved in this industry over the last 50 years. A review of this survey is provided.