Digital Mining Solutions
Digital mining solutions are the next technology evolution for industrial enterprises. As we transition each year into industry 4.0, the industrial digital transformation of various sectors, including metals and mining, is well underway. The pressure for mining enterprises to invest in is strong with no end in sightjust as the last burst of innovation, plant digitalization and other digital implementations help narrow in on which the connected enterprise will lead this next wave of modernization and improvement.
Technological advancements happen faster than ever in this fresh virtual age – it’s automation and other digitization initiatives that are taking the center stage. Digital solutions and software for sustainability become a progressively growing necessity as we observe this rapidly expanding digitalization era before us.
While the world invests in this sustainability future, mining enterprises are finally starting to take digital mining solutions seriously. In an increasingly technological climate, companies that can’t find the time or assets to invest in digital necessities may not be able to survive within this competitive environment. Is your enterprise ready for the digital surge being brought forth?
According to a Business Insider report, connected tech markets are projected to reach over $2.4 trillion annually by 2027, with over 41 billion Internet of Things (IoT) devices spanning numerous industries and enterprises. For reference, there were approximately 8 billion IoT devices across the industrial space in 2019.
What exactly do digital mining solutions encompass, though? With the pressure for mining organizations to constantly achieve new levels of performance at an all-time high, safe operations must also remain a priority.
A digital mining management system and IoT predictive maintenance is the solution to both never-ending hurdles for the industry – and the value doesn’t stop there. Let’s look at all the value that can come from these digital solutions.
The Kearney Consumer Institute notes that enterprises that adopt innovative solutions improve their profits by up to 45% within just 2 to 3 years. In a sense, digital plants lead to the future of mining as we know it.Historically, the global mining industry has already advanced as far as it has through two focal ways: adopting the next innovative technologies to improve productivity and increase the physical scale of operations to accommodate the significantly larger demand.
Fortunately, plant digitalization brings with it the next new ways to get ahead and improve profits within the mining sector by increasing efficiency and dramatically improving performance. Mine optimization is a priority for digital algorithms and machine learning devices designed precisely for the job. From exploration all the way to mine closure, digital mining solutions and industrial AI work to improve every factor.
While the value for digital mining solutions is exponential, it can also be demonstrated to help enterprises understand digital’s worth. Connected mines offer a medley of benefits for mining companies.
Reduce Operational Costs
Improving the end profit margin is always a top priority. Asset management software and solutions meant to reduce downtime and reduce operational costs can improve that end profit margin. Smart technology brings with it wireless monitoring, which is a cost-effective option in comparison to its analog predecessor. Every aspect is made more efficient, thereby reducing production costs and operating costs.
Easily Automate Operations
Automation is a key player in this next industrial wave of innovation and technology. Mining operators can see their existing wireless network further embedded with sensors and automation software to be able to control moving and static assets – all done remotely. While still relying on a physical network of sensors, automation brings with it a sense of connection like mining enterprises haven’t yet seen.
Improve Workplace Safety
Workforce safety is an endless concern for mining executives. A major issue, especially within the mining and metals industry, is the need to improve worker safety takes precedence. Fortunately, through predictive analytics and other digital mining solutions, the entire operation is made significantly safer.
Tighter Data Security
Part of reliable digital mining solutions is to ensure the security of the industrial data collected and analyzed. Mining enterprises are often incredibly protective of their private data, and with good reason. Fortunately, automation brings with it the ability for companies to employ on-premise data acquisitions systems to better protect and monitor all data. Hackers are unable to enter the network, while operators are able to still monitor any incidents they need to be made aware of.
Readily Monitor Assets
Finally, smart manufacturing technologies help to further monitor and maintain assets. Mining operations can feel more in control of their assets through every step of the process. By being able to both monitor and ensure long-term maintenance of critical, operational assets, a mining enterprise can get much further ahead thanks to digital.
What are some solutions to mining?
In reality, there are numerous solutions to mining that one can use to reduce the mining industry’s overall environmental impact. Solar power or wind power instead of diesel generators are other digital mining solutions. Likewise, reprocessing tailings can also help to reduce the environmental impact of mining.
Another example is the copper mines in Arizona, which have been extracting gold and silver from their waste products to reduce the amount of overall waste that must be stored in landfills. Not only does this reduce waste, but it also extracts precious metals from what would have been disposed of instead.
In addition, eco-friendly equipment can minimize the environmental impact of mining.
For example, some mines are now using trucks that run on compressed gas rather than diesel. Every step towards the smart mine is a step towards a sustainability future, too.
What software is used in the mining industry?
The metals and mining sector uses asset management software/asset performance management software (like predictive maintenance software) to help reduce downtime and equipment lifecycle challenges. Some of this includes software for sustainability and for mine planning and scheduling, truck routing and dispatch, blast hole drilling optimization and real-time production monitoring. The software used in mining enterprises is ever-evolving to make the connected mine and industrial digital transformation possible.
Interview with an Expert:
The Digital Future of Mining Operations