The mining industry stands at a pivotal moment. In addition to decarbonization and energy transition goals; geopolitical volatility, permitting delays, and rising national security considerations are reshaping capital investment in the industry and also how mine planning is conceived and executed. At the same time, technology adoption and workforce transformation offer powerful opportunities to unlock new reserves and improve operational resilience.
This article, the first in our Deswik Leadership Series, brings together insights from our senior leadership team and explores the trends that will define mining’s next decade. From the realities of geopolitical risk to the promise of new innovations and the urgent need to invest in talent, we examine what mining companies must do now to remain competitive and responsible on the global stage.
Deswik contributors:
- Andrew Pyne, Chief Executive Officer
- Calliope Lalousis, Chief Operating Officer
- Glenn Wylde, Chief Technical Officer
Mining at a Crossroads in 2026
As we move into the second half of this decade, the global mining industry is entering a decisive era. Demand for critical minerals is surging as economies accelerate toward electrification and decarbonization, with copper, lithium, and nickel at the center of this transformation. The International Energy Agency predicts global copper demand will double by 2040, while lithium demand is projected to grow sixfold in the same time period. These minerals are essential for electric vehicles, renewable energy infrastructure, and battery storage systems that underpin the energy transition. And, as many global governments commit to net zero by 2050, this demand will only continue to rise throughout the next 25 years.
At the same time, ESG pressures and geopolitical volatility are reshaping the operating environment. Investors demand transparency and sustainability, while governments administer restrictive permitting frameworks. Workforce constraints add another layer of complexity, and with many universities closing mining programs even as demand for engineers grows, the challenges for the industry continue to grow. The industry is experiencing a paradox: unprecedented opportunity coupled with unprecedented risk.
Global Trends Shaping the Industry
In 2026, mining leaders will be confronting myriad issues which each have the potential to change the face of mining. We asked three members of the Deswik leadership team (Andrew Pyne CEO, Calliope Lalousis, COO, and Glenn Wylde, CTO), which key global trends they predict will be critical in 2026 and beyond. They identified five to watch; digital transformation, automation, decarbonization and electrification, geopolitical risk and workforce evolution.
Digital Transformation
Andrew frames the digital challenge succinctly. “Technology adoption is one of the most critical areas of focus for mining operations, specifically to operationalize their technology usage. Many mining companies experiment with tech, spending a lot of time and effort trying to make things work but often beyond a proof-of-concept phase these potential solutions aren’t introduced to drive any operational change or impact.
“This disconnect between ambition and execution is, of course, not unique to mining, but the stakes are getting higher here. With permitting timelines stretching into decades, risks growing, and capital costs escalating, the industry cannot afford to lag in innovation. The question is no longer whether to transform, but how - and how fast.”
Glenn adds, “There is a cognitive bias called the “IKEA Effect”. It refers to the bias towards something you have personally created, regardless of whether it is the best option. And this is understandable, but it can be one of the real challenges for companies trying to adopt new technology.
“Having a North Star or a vision of what you’re aiming for is critical. Everyone needs to know where you’re heading and why, otherwise digital transformation ends up being an expensive disaster and you are no further forward...and in some cases, further back.”
The next decade will see a convergence of technologies that redefine mine planning and execution. AI-driven operations will augment, not replace, human judgement. Glenn explains, “Despite the hype and value of AI, the future of work in mine planning is uniquely human. AI is unmatched in speed and accuracy for data-driven decisions, but when it comes to intuition, ethical judgment, adaptability, and strategic foresight, the human is the perfect decision maker.”
Automation
The ultimate aim for mine automation is to remove the human element, maximizing safety and outcomes, and the industry is moving ever closer than ever to this goal. Andrew elaborates, “There is a mine of the future in China that’s already zero-entry automated. It’s fully automated coal mining, and it’s fully electric, battery electric vehicles where the battery gets changed out faster than a fueling cycle on a haul truck.”
Automation of production Haul Fleets has been a reality for a number of years in mining, however the current version of automation technology has limits to the environments in which they can be effectively deployed. Over the new few years, we expect to see a new generation of technology providers enter the mining industry and expand the applicability of automation in mining. These new technologies will be leveraging emerging Level 5 fully automated capabilities to augment the tremendous value already delivered by the OEM AHS solutions.
Decarbonization and Electrification
The race to net zero is accelerating investment in battery minerals, renewable energy integration, and electrified fleets. Yet progress is uneven globally. For example, in APAC, Australia’s trials of battery-electric haul trucks face infrastructure bottlenecks, with grid capacity and charging stations lagging behind fleet deployment, and Indonesia’s nickel boom is constrained by permitting delays averaging 18 months longer than global norms. Cal explains: “To improve mining operational efficiency, companies need to build tools that fit the market. The future is about making processes simpler and using data intelligently to support decisions. Simulation and guided workflows will play a huge role in helping mines adapt to new demands like electrification and sustainability.”
Geopolitical Risk
For two decades, mining rode a wave of global industrialization. Today, that era of “golden times” is giving way to resource nationalism and supply chain fragmentation.
“If you look at what it takes to get a mine going in the US, it’s more than 50 approvals. In Canada, it can take up to 15 years, and Australia is facing similar headwinds. Every interest group has the ability to stop a project, and that’s creating real barriers to meeting future demand. Effective engagement between conflicting stakeholder groups remains a challenge for the mining industry,” says Andrew.
"A rising challenge is security of access to critical minerals, which has risen in its importance due to the increasing risk associated with existing supply chains to these minerals."
Workforce Evolution
Automation and AI are reshaping roles, but people remain central. Calliope warns against complacency. “We’re assuming a large language model will take the place of a human decision maker. That’s a mistake.”
As Andrew says, "Artificial Intelligence has a role to play though, by reducing the requirements for highly skilled engineers to complete all tasks associated with technical mining decisions.
"We are researching how we can leverage the skills of the two hundred mining engineers we have at Deswik, capture their collective knowledge gained through experience; and make it available through the possibilities offered by emerging AI technologies."
Opportunities on the Horizon
Mining in 2026 will be more complex, more connected, and more consequential than ever. For leaders willing to embrace change with confidence, significant opportunities are there to take. The group highlighted four key opportunities for 2026; underground expansion, simulation and integrated planning, collaboration and new business models, and the circular economy and recycling.
Underground Expansion
Surface deposits are declining, and ore grades are falling. Underground mining is increasingly essential, and the opportunity here is to continue to innovate to get ahead. As Calliope says, “Underground innovation is transforming how we access deep reserves. From block caving projects to advanced simulation optimizing sequencing and ventilation, digital mine planning is no longer optional, it’s the key to making complex underground operations safer, more efficient, and more sustainable.”
Simulation and Integrated Mine Planning
Simulation enables planners to evaluate thousands of scenarios quickly, reducing uncertainty and improving decision-making. This is critical as mines become deeper and more complex. Glenn sees technology integration as a game-changer. “Simulation has a huge place to play in the future, specifically reducing options and providing decision support in real time. There’s so much data available, but very little of it is used by the person making the decision. Emulating an environment and giving actionable options will be tremendously valuable.”
User experience will evolve dramatically. Guided workflows like those in today’s software will give way to natural language interfaces and semi-automated workflow generation. Glenn continues, “Instead of heavy UI products, we’ll see minimal interfaces driven by voice or command prompts. The expectation of how people use applications is shifting fast”.
Global competition for resources will intensify, and resilience will become a strategic imperative. Scenario planning, long used in oil and gas, will gain traction in mining as companies prepare for geopolitical shocks and supply chain disruptions.
Collaboration and New Business Models
Andrew points to the untapped potential of new business models between miners and suppliers, “If you’re a junior miner trying to get a mine off the ground, your access to capital is tough. One of your biggest expenses is your mobile fleet. Manufacturers like Cat or Komatsu have unlimited access to capital. "Why not provide equipment on a different model, an operating cost instead of a capital cost? That’s an open opportunity.”
We are seeing examples in the technology sector of mining where companies are providing their software solutions and expertise to junior explorers to develop their assets, and where necessary raise capital.
Circular Economy and Recycling
The push for sustainability is creating opportunities in recycling and secondary resource recovery. Europe is investing heavily in battery recycling, while China is scaling up rare earth recovery from industrial waste streams.
Risks to Watch
As with all good things, risks arrive alongside opportunities. Andrew, Calliope and Glenn flagged four distinct risks to monitor in 2026; permitting and regulation, capital constraints, talent gaps, and cybersecurity.
Permitting and Regulation
Calliope notes this as the major risk for new operations. “Permitting delays remain the single largest constraint on new projects. In the US, the average timeline for a new mine is 16–20 years. “Canada averages 12–15 years, and these types of delay threaten supply security for critical minerals”.
Capital Constraints
Andrew underlines the financial risks which may prevent entry for junior players in the mining industry, “As we referenced earlier, junior miners face severe challenges accessing capital. Rising interest rates and ESG compliance requirements are tightening funding channels. Innovative financing models and supplier partnerships will be essential to mitigate these types of risk.”
Talent Gaps
Glenn warns, “The biggest risk to operations for 2026 is people. Not building or investing in talent. Assuming AI will take the place of a human decision maker. Not giving them space to think and work.”
The global shortage of mining engineers is acute. Universities are closing programs, and graduates are shifting to tech sectors. Companies must invest in training, graduate programs, and partnerships with academia.
The talent pipeline is under strain. In Queensland, Australia, a major global mining center, mining engineering programs have been absorbed into broader disciplines, reducing specialist graduates. Globally, the number of mining engineering graduates has fallen by 39% since 2016.
Calliope agrees, “The University of Queensland has engineering specializations, chemical, civil, electrical, mechanical, mechatronic, software, but mining has been removed. The only way you can access mining now is through civil or mechanical engineering as a sub-major.
“This is critical because Queensland is a major mining state, and without dedicated mining programs, we risk losing the next generation of engineers who will drive innovation and sustainability in the industry.”
Cybersecurity
As mines digitize operations, cybersecurity becomes a critical vulnerability. In APAC for example, cloud adoption is accelerating, but governance frameworks lag behind, leaving operations exposed to data breaches.
Mining with Confidence
The industry’s future will not be defined by technology alone, but by the intelligence and integration behind its application. Success will hinge on three principles: clarity of purpose, investment in people, and collaboration across the ecosystem.
Andrew offers a final perspective, “We’re optimistic about the future, but we need to calibrate ambition with reality. The pace of change is overwhelming, and we can’t do everything at once. Focus on what matters, build momentum, and keep your eye on the North Star.”
Sources:
- IEA (2025), Copper, IEA, Paris https://www.iea.org/reports/copper-2, Licence: CC BY 4.0
- As per the United Nations: A growing coalition of countries, cities, businesses, and other institutions are pledging to reach net-zero emissions by 2050. As of June 2024, 107 countries, responsible for approximately 82 per cent of global greenhouse gas emissions, had adopted net-zero pledges either in law, in a policy document such as a national climate action plan or a long-term strategy, or in an announcement by a high-level government official. More than 9,000 companies, over 1000 cities, more than 1000 educational institutions, and over 600 financial institutions have joined the Race to Zero, pledging to take rigorous, immediate action to halve global emissions by 2030. Net Zero Coalition | United Nations
- Global Materials Perspective 2025 | McKinsey
- https://au.news.yahoo.com/getting-grid-charging-infrastructure-ready-215216271.htm
- Indonesia limits new nickel permits to add value to production - MINING.COM
- University of Queensland: School of Mechanical & Mining Engineering - University of Queensland
- Global mining industry - statistics & facts | Statista
- The IKEA Effect IKEA effect - The Decision Lab
Contributors:
Andrew Pyne, Chief Executive Officer Andrew Pyne | LinkedIn
Caliope Lalousis, Chief Operating Officer Calliope L. | LinkedIn
Glenn Wylde, Chief Technical Officer Glenn Wylde | LinkedIn