Abstract

This chapter is one of the rare academic studies focusing on the business sector of services for mineral exploration from the perspective of applicability of circular business models in the quest for sustainability. Even though the mineral exploration sector cannot be made fully circular; there are many aspects in it, where “circularness” can be incorporated by following the CBM logic. Along with offering conceptual and theorical discussion, the current chapter highlights one specific project, MinExTarget—Enhanced Use of Heavy Mineral Chemistry in Exploration Targeting, which is a consortium of partners from industry and academia in Denmark, Finland, Norway, and Poland, as a good example depicting the potential of applying of CBMs in the mineral exploration sector particularly. We specifically highlight the role of value-capture and value-transfer in the potential applicability of CBM in this specific sector. Finally, our chapter presents both implications as well as limitations associated with the applicability of CBM.