Mining companies’ traditional role in extracting and processing ore could change dramatically over the next few years, adding new business developments that could affect the primary role of mineral processing.
A new report from the Boston Consulting Group (BCG), ‘The New Technology Frontier in Mining’ looks at how digital technologies such as AI and IoT revolutionise the mining industry – with some surprising, if not extreme considerations about the shifting role of mining.
The advantages of IoT-powered equipment and vehicle data collection can go further than mining operations use. Mining organisations will increasingly have the choice of using heavy machinery or leasing this intelligent equipment on the ‘equipment as an asset’ premises.
This way the mining concern can leverage data on a larger scale in a more cost-effective way, just as software as a service (SaaS) and infrastructure as a service (IaaS) does.
In this new mining setup, the original equipment manufacturers (OEMs) handles the maintenance, and the mining companies purchase the use of the equipment.
Within the mining sector, Decision Inc. Immix offers an exploration, Mining and Minerals Processing (xMMP) ERP software solution that covers the total life-of-mine. The solution manages mineral rights (tenements) claims; exploration; drilling; engineering, planning and construction management for the development phase; actual mining production; stockpiles; plant; shipping and dispatching, all the way to mine rehabilitation.
The OEMs can further expand to include a comprehensive offer made of asset leasing, maintenance, and remote labour supply for the mining operations as needed.
Therefore, the traditional mineral processing business model has the potential to slowly shift towards on-demand technology services, as the industry opens itself to technologicalinnovations and discovers new opportunities for on-site operations and revenue growth.
It becomes clear that these disruptive technologies will not only have a positive effect on the level of efficiency and productivity of mining operations worldwide.
Digital disruption in mining brings an exciting opportunity for rethinking the mining value chain as a whole, including its suppliers, customers and competitors, and allows for new innovative ways to add value to the mining ecosystem.
Read the full BCG report here.
Decision Inc. 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.