In this episode of B² Natural Capital, host Ben Murphy sits down with Benjamin Cox to explore the often-overlooked role of water in mining operations.

From outdated 19th-century water laws in Colorado to advanced recycling technologies in water-scarce regions, they examine how treating water as natural capital can unlock both environmental and financial gains.

Whether you’re a mining executive, metallurgist, ESG professional, or simply interested in practical sustainability strategies, this conversation blends insight, humor, and actionable advice. Discover why water isn’t just a resource to manage — it’s a lever for profitability, safety, and long-term resilience.

Main Topics Covered

1. Benjamin Cox’s path into environmentalism and mining water challenges
2. Water-rich vs. water-scarce jurisdictions: risks and opportunities
3. Historical water rights and their modern-day implications
4. Optimizing thickener performance to reduce water loss to tailings
5. Revenue per cubic meter as an operational efficiency metric
6. How fragmented ownership complicates water management
7. The role of culture, skills, and technology in water optimization
8. Practical “low-hanging fruit” that improves profitability and reduces tailings risk

Key Takeaways

• Water optimization can deliver returns in months — sometimes even days.
• Improved recycling and thickener performance reduce waste, costs, and environmental impact.
• Water scarcity presents both environmental and financial risks that require proactive management.
• Mines often prioritize financial capital while under-optimizing natural capital.
• Focusing on water can unlock broader gains in tailings management, energy efficiency, and overall site risk reduction.

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