Moving the circular economy forward in the mining industry: Challenges to closed-loop in an emerging economy

Vidyadhar V. Gedam, Rakesh D. Raut, Ana Beatriz Lopes de Sousa Jabbour and Nishant Agrawal

Resources Policy, 2021, vol. 74, issue C

Abstract: Resource scarcity and ecosystem damage are putting pressure on the mining industry to increase the circularity of its operations. This study analyses the critical challenges to a circular economy in the Indian mining industry, applying an integrated decision-making approach. The identified challenges were obtained from a detailed literature review as well as experts' opinions, and were then ranked. The interrelationships among the key challenges are established and classified into a cause-effect grouping. According to a structured analysis of the challenges to the circular economy in the mining industry of an emerging economy and their interrelations, the trade-off between the prices of virgin materials and secondary waste materials could jeopardize circular economy principles in the mining industry. Primarily, this article raises the importance of tackling the lack of clear governance measures and implementation of waste management reporting for a closed-loop related to developing circular economy principles in the context of an emerging economy. Thus, adequate governance measures regarding closed-loops are vital to ensure a sustainable balance between the supply and demand of secondary minerals and metals, which can address the trade-off mentioned. Some suggested directions for policymakers and managers have also been provided to help formulate appropriate strategies for a transition to the circular economy.

Keywords: Circular economy; Barriers; Sustainable development; Mineral resources; Multicriteria decision-making (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:74:y:2021:i:c:s0301420721002907

DOI: 10.1016/j.resourpol.2021.102279

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