Those who are interested in a stake in the Australian Mining Industry have to consider a number of factors. Inventors and technical innovators who are potentially interested in developing techniques and technologies in and for the mining industry need to know their stuff.
Mining patents are highly technical, they have to be. There are considerable challenges involved in safely conducting mining operations as well as other factors to consider, such as commercial viability.
Would-be inventors should also be aware that the cost of developing equipment for the mining industry is considerable and while the industry thrives on innovation it’s actually quite difficult to be original. The question of originality is important because if a technology is not sufficiently innovative it might encroach upon an existing patent. It’s therefore key, even before you begin your research, to consult with a qualified patent lawyer who can do the necessary searches to establish beforehand if your proposed invention is too similar to something already out there and where the patent is still in force. There’s no point in spending a lot of time and money only to discover that you’ve only reinvented the wheel. An intellectual property attorney, specializing in patents in the mining industry, might be the best early investment you make, after your initial brain-storming.
With that in mind, here are some things to take into account if you want to enter this potentially lucrative industry.
The Australian landmass is huge and far from fully surveyed or explored.There might yet be economically significant and commercially viable reserves of commodities such as rare-earth metals that remain undiscovered, providing attractive propositions for those who might want to get in on the ground floor as new opportunities arise.
The potential is there for inventors and developers to continue to providesolutions for mining problems.
The earth doesn’t give up its secrets or its riches easily. All the easy-pickings were picked out long ago. Modern mining is intricate and specialized.
Mining therefore is a complex operation, encompassing many diverse scientific and technological disciplines, areas of operation in which equipment and techniques can be protected by intellectual property, including patents, comprise but are not limited to:
And if you want to think really creatively and long-term there is also Biomining (the use of biological systems for mineral extraction) and, to be really out there, Space and Asteroid Mining.
So while mining remains, and will continue to remain a highly-specialized field there are plenty of opportunities for entrepreneurs to be inventive.
But if you’re going to go to the trouble of creating innovative solutions to the many challenges and problems posed by mining operations, make sure that you protect your hard-won intellectual property with appropriate patenting administered and overseen by specialist intellectual property lawyers.