Rapid technological advancements, including automation and digitalization, have had a profound impact on the mining sector. Emerging technologies such as 5G, AI, blockchain, IoT, and robotics are transforming how conventional company value chain operations or processes were carried out. Their implementation in a variety of operations ranging from ore exploration to final ore processing can be conspicuously witnessed.
Mining companies need to maximize their machines’ productivity, and this is leading to greater use of AI to automate mining and blasting operations, alongside IoT to monitor machinery. Moreover, sophisticated nanotechnology is assisting in the greener extraction of certain metals.
The report highlights how the mining sector is embracing technologies to foster innovation to mitigate risks, minimize expenses, and improve efficiency.
Key Use Cases of Technology in the Mining Sector Value Chain
The number of use cases encouraging innovation is rising across the value chain and is allowing emerging technologies to reshape the future of mining. The key mining sector value chains are as follows:
Prospecting + Exploration & Resource Evaluation: 3D seismic exploration, aerial survey, and AI-mine exploration, among others, are some of the key use cases of technology in prospecting + exploration & resource evaluation. For instance, in aerial surveys, drones are serving as a cost-effective and reliable solution for scanning terrain that would be difficult to assess otherwise.
Feasibility Studies, Mine Planning & Development: Some of the key use cases of technology in feasibility studies, mine planning & development are advanced connectivity, cost estimation, and downtime prediction, among others. For example, in cost estimation, digital technologies are helping mining companies in eliminating financial and operational risks with real-time and dependable data.
Mining & Extraction + Processing: Automated mine, automated mining vehicles, and blasthole drilling, among others, are some of the key use cases of technology in mining & extraction + processing. For example, in automated mining vehicles, unmanned mining vehicles are aiding to reduce employee fatigue and increase employee safety by reducing the number of people operating in a hazardous environment.
Marketing: Some of the key use cases of technology in marketing are commodity price prediction, commodity trading, and conflict-free minerals, among others. For instance, in commodity trading, mining firms are using blockchain to make commodity trade easier, cheaper, and more transparent.
Reclamation: 3D holographic reclamation, environment monitoring, and geomorphic reclamation, among others, are some of the key use cases of technology in reclamation. For instance, technologies like cloud computing are helping to evaluate geographies that can prevent soil erosion and encourage wildlife and plant variety in the reclaimed land.
Key Use Cases of Technology in the Mining Sector Value Chain
For more insights on the key use cases of technology in the mining sector value chain, download a free report sample
Digital Mine Report Overview
|Key Value Chains||Prospecting + Exploration & Resource Evaluation, Feasibility Studies, Mine Planning & Development, Mining & Extraction + Processing, Marketing, and Reclamation|
Innovation Insights: innovation examples by each application segment of the mining sector to present key trends.
Innovations: presents real-world innovation use cases and examples related to the implementation of emerging technologies by companies as well as startups in the mining sector. It casts light on how tech-enabled innovations are transforming every segment of the sector value chain.
Reasons to Buy
No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has all of the sudden become the key catalyst to drive the next wave of innovation across sectors.
The sense of urgency weighs differently across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors. Companies in one sector can take cues from successful innovations in other sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation.
Against this backdrop, enterprises need to understand which emerging technologies are impacting their sector and how various companies are implementing them to meet various challenges.
The innovation landscape report in mining, published by GlobalData as part of an ongoing series, covers some of the key trends, use cases, and real-world examples related to the implementation of emerging technologies across the mining sector value chain.
Kirkland Lake Gold
University of Wyoming
Table of Contents
Table of Contents
1. Sector innovation insights: overview
2. What are the key sector strategic challenges?
3. Which technologies are helping the sector?
4. Theme exposure map: sector benchmarking
5. Innovation map by sector value chain: key use cases
5.1 Prospecting + Exploration & Resource Evaluation
5.2 Feasibility Studies, Mine Planning & Development
5.3 Mining & Extraction + Processing
Frequently Asked Questions
The key mining sector value chains are prospecting + exploration & resource evaluation, feasibility studies, mine planning & development, mining & extraction + processing, marketing, and reclamation.
Some of the key use cases of technology in prospecting + exploration & resource evaluation are 3D seismic exploration, aerial survey, and AI-mine exploration, among others.
Some of the key use cases of technology in feasibility studies, mine planning & development are advanced connectivity, cost estimation, and downtime prediction, among others.
Automated mine, automated mining vehicles, and blasthole drilling, among others, are some of the key use cases of technology in mining & extraction + processing.
Some of the key use cases of technology in marketing are commodity price prediction, commodity trading, and conflict-free minerals, among others.
3D holographic reclamation, environment monitoring, and geomorphic reclamation, among others, are some of the key use cases of technology in reclamation.
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