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, Australian Centre for Geomechanics, Perth, pp. 225-229, https://doi.org/10.36487/ACG_rep/1108_18_Lilly
While engaging in Research and Development (R&D) is not of itself sufficient to guarantee the long term success of a mining company, those companies that do not invest strategically in R&D are unlikely to survive very long simply because they will not be able to maximise the value of their shareholders’ assets in a rapidly-changing world. And while R&D might not be core business for a mining company, innovation most definitely should be, and there is a strong link between R&D and innovation, particularly in a capital and technology intensive industry such as mining. The paper provides an overview of the difference between tactical and strategic research and development initiatives, and how both are of value to a mining business. It demonstrates value in the context of Baghai et al. (1998) innovation framework, providing examples of actual innovations, and seeks to provide guidance on some of the management aspects of such initiatives.
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