The influx of an array of new technologies and digital innovations in the mining industry has the potential to transform key aspects of mining to deliver exceptional stakeholder, customer and environmental value.
For terrestrial mines, 3D printing has helped to reduce costs by 50-80% compared with standard manufacturing methods.
3D images of the mining environment and topography are captured and analyzed to evaluate plans such as targeting of drill holes, to zero in on high-quality ore in the least amount of time.
Over the next decade, autonomous machines could add $56 billion of value to the industry, as they increase output by operating 24 hours a day, 365 days a year at a high productivity level.
The use of digital twins has cut the cost of delivering capital built assets by around 20 percent over the last five years.
Simulation modeling helps identify the best way to run extraction, processing, production and distribution, based on situational or environmental conditions.
It is becoming increasingly evident that technology will play a growing role in the mine of the future, and is set to change the way miners operate. Though innovations in the mining industry are in varying stages of maturity, early adopters have witnessed improved productivity, cost savings and safety advancements. To stay competitive, miners will need to integrate these technology innovations into every facet of the business.