global megatrends Shaping the Future of mining Importantly, megatrends are not mutually exclusive and the A megatrend is defined as a substantial shift in social, trends that make up one megatrend can influence or contribute economic, environmental, technological or geopolitical to another. Showing the megatrends in a Venn diagram of conditions that may reshape the way an industry operates in overlapping circles helps to illustrate this interrelation. the long-run. The five megatrends outlined in this report represent the most Megatrends are cross-sectoral and occur at the intersection of significant global shifts that will have an impact many trends. A trend is a significant pattern of activity typically on the mining industry over the next 20 years. Some elements will occurring within an industry sector, societal sector or within a have greater relevance in the short term, while others will grow in localised geographic region with implications for decision significance over time. making. Compared to trends, megatrends have a higher impact From the eastward shift in the centre of economic output to and develop over a longer timeframe. the new resource business models that could be created The key characteristics of a megatrend include: based on recycling materials, all of these megatrends have both supply-side and demand-side implications and present There is evidence that it is already occurring; specific considerations for the Chilean mining industry. As the It is relevant to decision makers; mining industry It is significant and has far-reaching implications for an continues to become more globally interconnected, any strategy organisation/industry; and for the future needs to give due consideration to the global context and how Chile can remain competitive in this changing It will continue play out over the future time (and environment. possibly beyond) of the foresight study. The Asian Century The Rise The of Innovation Recycling Imperative The The Era of Knowledge Accountability Economy
global megatrends Shaping the Future of mining A megatrend is defined as a substantial shift in social, economic, environmental, technological or geopolitical conditions that may reshape the way an industry operates in the long-run. Megatrends are cross-sectoral and occur at the intersection of many trends. A trend is a significant pattern of activity typically occurring within an industry sector, societal sector or within a localised geographic region with implications for decision making. Compared to trends, megatrends have a higher impact and develop over a longer timeframe. The key characteristics of a megatrend include: There is evidence that it is already occurring; It is relevant to decision makers; It is significant and has far-reaching implications for an organisation/industry; and It will continue play out over the future time (and possibly beyond) of the foresight study. Importantly, megatrends are not mutually exclusive and the trends that make up one megatrend can influence or contribute to another. Showing the megatrends in a Venn diagram of overlapping circles helps to illustrate this interrelation. The five megatrends outlined in this report represent the most significant global shifts that will have an impact on the mining industry over the next 20 years. Some elements will have greater relevance in the short term, while others will grow in significance over time. From the eastward shift in the centre of economic output to the new resource business models that could be created based on recycling materials, all of these megatrends have both supply-side and demand-side implications and present specific considerations for the Chilean mining industry. As the mining industry continues to become more globally interconnected, any strategy for the future needs to give due consideration to the global context and how Chile can remain competitive in this changing environment. The Asian Century The Rise of Recycling The Innovation Imperative The Era of Accountability The Knowledge Economy