The need for staying ‘connected’ is pushing the smart mining market with technology, automation solutions, software and relevant as well as innovative tools that helps mining companies improve operational efficiency. Inspite of capex going down Y-o-Y, the technology investments are not seeing a downfall in the same proportion. This is a result of the need to automate processes with a single focused objective to improve efficiency and productivity for the long run. With tasks (tramming, drilling, etc) becoming ‘autonomous’, multiple software and solution offerings from leading IT and technology players are helping mining companies become ‘smart’ as well as better performance.
Mine equipment, technology and services companies (METS) are targeting Internet of Things (IoT) technology offerings with objective of serving higher profit margin minerals in the wake of lower mineral prices. Additionally, mining companies want to cater to regulatory and stakeholder requirements concerning land use, safety and health as well as environmental impacts of growth. In a carbon constrained ecosystem, technology faces equal number challenges to the offerings it lays for mining companies. Targeting economies of scale will mean mining companies operating smartly across multiple destinations, utilizing huge amount of data that will need analysing to find action points to increase productivity. With time, the necessity and hence demand of smart mining solutions and offerings is sure to increase in the industry.
With the world becoming ‘connected’ via the IoT or Internet of Everything (IoE), smart mining gets a boost in terms of sensors, automated tools, helping underground processes develop further and more. Having data on hand is only one part of this whole ecosystem that helps better efficiency and business processes. Analyzing this data to have ‘insights’ that help take decisions / actions, is another important part. Not only is technology developing to meet these needs, when executed in the mining industry, the complications and challenges increase by one more level. Connected mining has started with basic steps and is expected to become universal over a period of time and in parallel to all technological developments.
eMarketOrg.com has a 2016 study titled Global Smart Mining Market Research Report 2021 spread across 107 pages and talking about companies like Intergraph, SUNWARD INTELLIGENT EQUIPMENT CO., LTD., Elcomplus, Becker, Freeport McMoRan Mine Technology Group and CAT. Regionally, this report covers North America, Europe, China, Japan, Korea and Taiwan, while it is supported with 115 data tables and graphs that aid in analyzing the smart mining market. Read more at http://emarketorg.com/pro/global-smart-mining-market-research-report-2021/ .