Operational challenges, legislative policies, price volatility, resource demand and significant increases in the cost of extraction are forcing mining companies to make difficult decisions to sustain operations.
The mining industry is facing these challenges while dealing with the emergence of advanced disruptive technologies. What does it mean for the mining sector?
The mining industry will have to focus on innovative systems to meet the market demands and find ways to benefit from digital transformation and disruption at an operational and strategic level.
Disruption may cause new requirements and shift in the demand for mined minerals and metals, with implication on the mining capacity and demand for primary resources, as well as affect the changing roles of the jobs in the competitive industry.
New technologies pose significant challenges but also great opportunities.
- The mining industry can leverage digital technology to deal with the productivity and safety challenges through IoT-enabled machinery optimisation.
- Mining organisations can implement an intelligent integrated management system across the board to bridge the existing social divide among stakeholders – management and employees
- Collaborative productivity tools can address transparency and accountability in all business transactions g. procurement
- Innovative thinking can lead to new management approaches in the industry, by looking at systems, people and resources in a more inclusive way
- New working roles can be created in the mining environment to support digital transformation processes
Resolve Immix leverages the Microsoft Dyanmics 365 technology to provide mining specific software across a variety of modules. Other investments in Microsoft’s software are also leveraged providing a reduced cost of ownership.
Digital transformation brings necessary change in an industry largely centred on production yield at an operational level, by enabling a more engaging, collaborative and organised environment that includes all participating stakeholders – from top management to underground mine workers.
Mining organisations and its key resources have now the possibility to become digitally enabled to drive far more efficient processes through the intelligent use of data analytics, coordinate teams, foster better communication with its people, and successfully manage and mitigate risks.
Mining companies need to prepare to shift from traditional entrenched models and plan for a digital future based on collaboration and innovation to move forward the industry.
Resolve Immix’s software provides extensive exploration, Mining, and Mineral Process (xMMP) solutions for key mining requirements, including functionality required for nearly all of the Total Life of Mine (LOM) requirements.
Microsoft Dynamics AX serves as the platform for the xMMP product suite and is a world-class global Enterprise Resource Planning (ERP) solution used by over 20 000 businesses across the globe.