{
  "id": 17601201,
  "title": "Cutifani warns mining sector’s failure to innovate opens door to takeovers",
  "url": "https://urgent.news/2026/11/01/cutifani-warns-mining-sectors-failure-to-innovate-opens-door-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-01T12:00:00.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/cutifani-warns-mining-sectors-failure-to-innovate-opens-door-to-takeovers/"
  },
  "original_language": "en",
  "account": "Former Anglo American CEO Mark Cutifani has cautioned that the mining industry risks takeover by external entities if it fails to innovate rapidly. Addressing the International Mining and Resources Conference in Sydney, Cutifani highlighted that mines are becoming 40 meters deeper annually and that obtaining new project permits can take up to 20 years. He emphasized that the sector lacks the technologies essential to tackle increasingly challenging mining conditions, as existing resources are not being replaced.\n\nCutifani cited a 2010 conversation with former General Electric CEO Jeff Immelt, which inspired his concerns about the industry's future. Immelt questioned what the CEO feared most for the industry over the next decade, to which Cutifani responded that materials would become scarce due to the industry's lack of innovation. Sixteen years later, Cutifani sees little progress in addressing this issue.\n\nDuring his time at Anglo American, the company implemented technological improvements through its FutureSmart Mining program, focusing on safety, productivity, and sustainability. However, Cutifani noted that the industry predominantly prioritizes short-term gains over long-term research and development. He argued that major mining companies might be acquired by external firms, citing the industry's inability to innovate as a key factor.\n\nCutifani is now joining Perth-based gold producer Northern Star Resources (ASX: NST) as a non-executive director after being recommended by activist investor Elliott Investment Management. Northern Star is currently advancing its KCGM operation in Kalgoorlie, facing pressure from Elliott and potential takeover interest from Gold Fields (JSE, NYSE: GFI). The company aims to make a final investment decision on its Hemi gold project in Western Australia by mid-2027.\n\nAccording to Cutifani, understanding a mineral resource's full potential is crucial when planning major developments. He estimates that fewer than 30% of mining projects worldwide operate at their full capacity, suggesting that companies often miss opportunities to maximize their assets. He urged developers to consider the long-term potential of deposits when planning infrastructure and community investments, rather than focusing solely on initial production expectations.",
  "summary": "Former Anglo American chief says slow technological progress and lengthy approvals threaten future mineral supplies and growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}