Technology Transforming the Mining Industry
Globally, the mining industry is respected for its smart leaders and the clever mining methods that have been developed over the years. However, the mining industry also has been perceived a laggard when it comes to change and innovation.
Those attitudes are gradually shifting as more miners are encouraging innovation and adopting new technology. Over the years, there has been increasing demand for more efficient production and better worker safety protocols. These demands have caused traditional mining companies to start implementing changes in their operations, and earlier stage ventures to embrace innovation. Advancements in technology are allowing companies to improve their bottom line and even revisit sites that were once deemed unprofitable.
In the past, managers and workers couldn’t easily relay information back and forth to each other. As a result, worker productivity and safety was negatively impacted. Today, an increasing number of mining operations are connected through mobile technology. This technology has additional benefits beyond basic communication. For example, geofencing allows workers to receive mobile alerts when entering a dangerous zone.
Automation & Data Analysis
It’s no surprise that mining companies are hungry for data. This information can help them locate key mineral veins, determine risks and streamline operations. Mining companies have revolutionized how they collect data in the field. Nearly every device used in a modern mine now has Smart Technology. This technology is constantly relaying important data such as the water pressure, the temperature, the concentration of gases and more. Armed with this information, decision makers can make decisions that will increase efficiency, improve overall safety and increases the operation’s sustainability. Predictive analytics allow for better decision making as it enables companies to analyze, in real time, how a decision will impact production, costs, and scheduling.
Mines are large consumers of electricity. Using Smart Technology, workers can accurately determine the electricity needs of different sections of the mine. This saves money and increases sustainability.
In the past, mining companies stored important information in propagated business stilos that were completely disconnected from operations. In a field where workers are constantly on the move, this proved to be an inefficient strategy. The Cloud allows data to be captured, stored and analyzed in real time.
Most mining companies have yet to take full advantage of digital technologies and other innovations. Oceano Verde views this as an opportunity.