23 October 2019: State of Play was founded eight years ago to fill a gap in mining industry research at the time.
While there was lots of discussion in the area of strategy and innovation in literature worldwide, it tended to focus on fast-moving consumer and technology industries whose internal dynamics are significantly different to mining.
Since then, State of Play has grown to host the world’s largest survey in strategy and innovation of its kind in mining, is now considered a source of strategic insight across the industry and is beginning to shape industry-wide conversations on big strategic challenges facing mining. State of Play has also expanded its research, conducting bespoke ‘drill-down’ reports into particular topics in mining; the first report which focuses on cybersecurity in mining is due for release in November.
Graeme Stanway, Chairman of State of Play will deliver the keynote address at CRC ORE's Annual Assembly 2019 on Thursday 24 October, presenting key findings and trends from recent State of Play reports with a particular focus on the mining industry.
Ahead of the Annual Assembly, we sat down with Dr Stanway to find out more about the State of Play and gain some insights into what he will present as part of his keynote address.
How have this year’s reports been received?
This year, we have been able to release multiple reports based on a rich dataset that spans four global surveys. We have also, in a global first, linked approaches to innovation with total shareholder returns of large, public mining companies. This year’s reports have received an unprecedented response in the variety of its audience, its coverage in the media and feedback from senior leaders across the industry.
Tell us a little about what you’ll be presenting on the day
State of Play’s focus is on big strategic questions that face mining and services companies, as well as investors, researchers, policymakers and advocates. The presentation will focus on the big drivers of change that are either already disrupting the industry or will soon force a change in thinking. I’ll focus on how energy, scale, new technology, new extraction methods, how a “shortening” of the value chain can fundamentally disrupt mining operating models, and how leaders can effectively implement innovation capability and programs in their organisations.
Any key trends/insights from the current State of Play reports you can share with readers ahead of the Annual Assembly
- Almost three quarters of mining leaders believe that robotics and automation will have the one of the biggest impacts on their operations over the next 15 years.
- The number of mining leaders who believe explorers are key drivers of innovation has tripled over the last five years of research.
- 58% of mining executives believe the source of raw materials will be a key driver of innovation and value for their company.
- Start-ups are the second biggest drivers of innovation in the mining industry.
- 78% of mining leaders believe that renewable energy will fundamentally impact the way they operate over the next 15 years.
Why is it important for miners, METS and research organisations to collaborate on research initiatives such as State of Play and CRC ORE?
Each organisation faces different incentives, priorities and challenges. In an increasingly specialised world, the answers to difficult challenges rarely reside within one organisation. Pooling experience, capability and capital is key to solving complex problems.
What are looking forward to at the Annual Assembly?
The Annual Assembly is a great opportunity for cross-platform exchange across the industry, where we can discuss our research and apply the experience and capability of attendees to develop further insights. It is also a platform to discuss the key issues and challenges facing the mining industry, which is core purpose for the whole State of Play team.
What’s next for State of Play?
State of Play continues to grow its research footprint across the industry, both in reaching more people with our research and sourcing insights from an ever-increasing group of industry leaders. We are in the process of publishing a report into cybersecurity in the mining industry, which will be released in November this year. We are also beginning a piece of research into the innovation and start-up ecosystem in mining, in particular how larger operating companies can partner with the right start-ups and do so without limiting the innovative freedom that is the source of their value. State of Play is also in the process of diversifying into energy fuels (oil, gas, hydrogen etc.).
The ultimate aim for State of Play is to shape strategic conversations in mining, through a cross-platform dialogue, which leaders from all around the world contribute and leverage to make important and difficult strategic decisions. We aim to build a broad membership base of contributors and subscribers and ultimately shape the direction of the global mining industry.
Information on Annual Assembly 2019 can be found here.