Moving the Circular Economy Forward in the Mining Industry: Challenges to Closed-Loop in an Emerging Economy

V.V. Gedam, R.D. Raut, Ana Beatriz Lopes de Sousa Jabbour () and N. Agrawal
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V.V. Gedam: NITIE - National Institute of Industrial Engineering [Mumbai]
R.D. Raut: NITIE - National Institute of Industrial Engineering [Mumbai]
Ana Beatriz Lopes de Sousa Jabbour: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
N. Agrawal: Nirma University

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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. \textcopyright 2021 Elsevier Ltd

Keywords: Barriers; Circular economy; Critical challenges; Decision making; Economic and social effects; Emerging economies; India; Industrial economics; Integrated decision makings; Literature reviews; Mineral industry; Mineral resources; Multicriteria decision making; Resource scarcity; Sustainable development; Waste management (search for similar items in EconPapers)
Date: 2021-12-01
Note: View the original document on HAL open archive server: https://normandie-univ.hal.science/hal-04275964v1
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Citations: View citations in EconPapers (2)

Published in Resources Policy, 2021, 74, pp.102279. ⟨10.1016/j.resourpol.2021.102279⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04275964

DOI: 10.1016/j.resourpol.2021.102279

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