Boris Ivanov, Global Commodities expert and Founder of Emiral Resources Ltd
Rapid digitalisation is pushing for the increasing incorporation of new technologies and innovations within the mining sector, which could transform it entirely. In fact, companies are increasingly seeking more innovative solutions in order to combat labour shortages, address scrutiny as well as growing pressures to improve efficiency while reducing costs and demonstrate more environmental and social awareness.
The Equinix Mining Technology Report 2023-24 highlights the growing investments into technology as well as how these innovations have adapted to address mining operations, supply chains and economic conditions in the past few years. For instance, mining companies are increasingly using machine learning (ML) and artificial intelligence (AI) to provide boosts for planning and automation.
From improving planning and exploration activities, to supporting competitive innovation and increasing security, there are many advantages for the industry to adopt new technologies. One example is the use of technology to effectively reduce the risk of health and safety incidents in underground mines. This could range from advanced analytics, AI forecasting that can help prevent safety incidents before they occur and predictive maintenance techniques to safeguard risky operations.
Ultimately, technology is driving and will continue to drive the future of the mining industry in many ways.
Artificial Intelligence (AI) and predictive technologies
The mining industry is often associated with intensive labour and high risks. That being said, advancements in technology, particularly AI, are helping to change this. As a matter of fact, AI technologies can help mining organisations to improve their exploration efforts, manage the performance of assets, reduce their carbon footprint and enhance safety protocols.
A previous report from GlobalData found that investment into technology in the mining sector is already booming, with the AI industry estimated to reach $908.7bn by 2030, signifying a growth of over 35% between 2022 and 2030.
AI systems can analyse large amounts of data and provide digital solutions to companies, resulting in enhanced speed, safety, and efficiency in mining operations. For example, smart data and machine learning enable a single operator to remotely control several drill rigs, with autonomous vehicles taking over pit-to-pit operations.
It also allows miners to bolster predictive maintenance capabilities and improve the overall safety and efficiency of processes by providing recommendations on new and potentially valuable sites to mine. By using pattern matching and predictive analysis, AI programmes can analyse significant quantities of geological data and identify where to find and extract resources. This helps companies with locating and extracting minerals much faster, while improving precision and helping to reduce the initial investment required as mining companies can plan exploration activities.
Sustainability is becoming a larger priority within the mining industry and AI-powered technologies also have the potential to help minimise the ecological impact of operations, leading to a reduced carbon footprint. These predictive technologies allow mining companies to be more efficient in their resource allocation, to ensure that all activities have the lowest possible disruption to the environment. In addition, these technologies enable easy monitoring of mining sites and tracking of environmental parameters such as temperature and groundwater, allowing for a comprehensive assessment of the wider impact of a mine.
Automation
The shift towards increasing automation allows for the delegation of tasks previously performed by human labour, resulting in improved safety and efficiency. AI-powered autonomous systems facilitate the use of self-controlled machines that control operations in unstable or hazardous environments. Protecting human life should be critical within this industry, especially as more than 15,000 miners are killed every year. With growing scrutiny over corporate responsibility, automation can not only significantly reduce the threat to miners’ lives, but in turn improve the reputation of the industry and boost overall productivity with machines able to work around the clock.
More importantly, predictive technologies will give organisations the power to analyse data to identify potential hazards or understand where structural designs or equipment may be faltering. As a result, they’ll be able to predict incidents ahead of time and implement preventative and enhanced safety measures.
Energy efficiency and Sustainability
Innovation is critical for the energy transition. In fact, by implementing accountability measures, such as tracking how resources are extracted and disposed of, mining companies can proactively mitigate their environmental footprint and work towards significantly reducing negative impacts on the environment.
The use of automated drones, also, enables close monitoring of excavation and extraction operations, keeping detailed accounts on the spread of waste products and harmful materials. In the past, the availability of drones suitable for this kind of work was limited, however, the field is advancing very quickly.
Drones can also be used to inspect, survey and map inaccessible areas, such as pipeline infrastructure and retention pods, from a distance, and share insights that have not been available before. This makes them increasingly useful in the running of successful mining operations as they are able to provide detailed accounts of what cannot be seen by eyes on the ground.
Looking ahead
The future for mining lies in innovation. By adopting digital technologies and data analytics, the sector will become safer, smarter, and more successful.