The relevance of the work lies in the fact that the modern mining and processing industry is undergoing a profound transformation due to the processes of digitalization and the need for increasing global competitiveness. This article presents a theoretical analysis for the fundamental principles of innovation management in the context of the specifics of mining and processing plants (GOK). The relevance of this study is due to the need for overcoming the methodological gap between general theories of innovation and the practical management needs of modern mining and processing enterprises. The purpose of the paper is to systematize the conceptual framework and develop a theoretical and methodological foundation for understanding the essence of innovation management in the context of the digital transformation of the industry. The research methods included a system analysis, comparative analysis, historical and logical method, method, classifications, secondary analysis of industry and consulting research data, as well as the case studies of leading enterprises (Rio Tinto and Aktogayskoye field). Based on the critical analysis for existing approaches to the definition of the terms "innovation" and "innovation activity", their limitations are identified, related to ignoring the managerial component and industry specifics. The author's definition of innovation management at a mining and processing enterprise is proposed as an integrated, dynamic and adaptive system that integrates methods of generation, selection, implementation and commercialization of innovations to achieve sustainable competitive advantages. To operationalize this definition, a system of seven key features of innovation management has been developed: digitalization, flexibility and adaptability, data-driven approach, open innovation, consistency and integration, focus on sustainable development, knowledge management. Each feature is illustrated with the examples from the practice of leading companies in the industry, such as Norilsk Nickel and Rio Tinto. The article highlights the specifics of mining and processing plants, including high capital intensity, long production cycles and increased environmental risks, which must be taken into account when building an innovation management system. It is concluded that overcoming the gap be-tween potential of digital technologies and the practice of their implementation requires development of integrated methodological approaches synthesizing classical theories of innovation and modern concepts of the digital economy. The proposed conceptual framework and the system of features form the basis for further empirical research and the creation of tools for diagnosing maturity of the innovation management system in specific enterprises.