Circular economic development scenarios and strategies for the mining sector

Abstract

This research attempts to explore diverse perspectives on circular economy modeling through structured content covering principles, benefits, challenges, scenarios, and future strategic directions for mining economics. To accomplish this, the research utilized a content analysis approach for the literature and a four-dimensional matrix structure based on the interconnection of two orthogonal axes. Based on the importance of mineral resources within the natural economic resources package, the research addressed the issue of developing mining economies by transitioning from a linear, waste- and emissions-intensive economic system to a circular, low-waste, zero-emission economy. It highlighted the implications of the circular economy for mining and clarified the essence of the 3Rs principle. The research findings conclude that the mining industry is a cornerstone of global economic development, providing essential raw materials for construction, manufacturing, and technology. However, its environmental footprint and linear management have raised concerns about sustainability and the increasing scarcity of resources. It is a transformative approach that seeks to reduce waste, maximize resource efficiency, and create closed-loop systems. It can positively transform how mining resources are extracted, processed, and reused in a way that promotes long-term economic sustainability by considering waste as an economic resource. Accordingly, the research provides models of practical insights and examples that can be used to build scenarios, options, and strategies to guide professionals and investors in mining resources towards sustainable economic development.