A combination of the markets changing rapidly, the increased cost of the base rate, and changing global demand is driving a major shift in the entire mining industry. Hence, mining companies need to change their strategies, as well as adopt new operating and business models as fast as they can. In order to seize the opportunities, miners need to embrace digital tools and capabilities, they need to include cloud-enabled mobility, and big-data fueled analytics, as well as the Internet of Things (IoT).
But, how do mining companies take advantage of these new technologies How can a digital change help the companies to keep pace with other industries? Well, there are 5 basic things: Visualization and Alerts, Analytics and Dynamic Scheduling, Digital Twin, Integrated Automation and Cognitive Network. Let’s take a look:
Visualization and Alerts
According to the experts from Xyber Solutions, even at the beginning of the transformation journey, mining companies can boost the productivity, reduce the costs, and improve the overall production and safety by visualization of the data across the whole value chain. By giving employees the right information, they will be able to make better decisions.
Analytics and Dynamic Scheduling
Analytics and machine learning algorithms will help mining companies to gain strategic business insights from the data they have. By adding these algorithms to the real-time data and analyzing the old data, miners can gain insights into future performances, health, and mineral specifications. By combing this information with dynamic scheduling solutions, you will be able to:
- Control the mineral specifications via specific strategies such as drill and blast improvement and better blending in order to gain the required output.
- You will be able to schedule dynamically across the whole operations by using predictive alerts.
- You will boost the health of the assets through assets maintenance.
- You can improve safety by monitoring your workers and assets.
Combining real-time plans and schedules with strategic plans has been a challenge for many mining companies, especially when different technologies and processes are used. The Digital Twin concept offers a virtual environment that will connect short, medium, and long-term planning in order to help miners make better decisions for various operations.
The automated mine is just the start. By implementing automation across the whole value chain enables the companies to solve a wide range of business problems even faster than before. The first thing to do is to develop models based on real data. These models will allow you to get reliable results that the employees can use to automate and validate decisions for their next processes.
This is a next-generation technology that is being implemented in various industries around the World. The ability of the machines to act and think like humans through the analysis of data will allow true transformation in the whole mining industry. The use of AI will allow people to interact with technology and in return, they will create a working environment that is self-learning, self-improving, self-controlling, and self-healing. An example of this is that other industries use the cognitive network to answer the usual question from consumers.
Technology is no longer the barrier to digital transformation, the companies ability to adapt and implement advanced tech is the barrier. Industries need to constantly adapt to an increasing and changing environment and in mining industries, the biggest benefits that you can gain is from new technology.