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Digital Mine – How Technology is Transforming Mining from Prospecting to Reclamation!

Rapid technological advancements, including automation and digitization, have a profound impact on the mining sector. A wide range of emerging technologies, including AI, ML, blockchain, IoT, and robotics have altered 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. They are helping mining companies to mitigate risks, minimize expenses, and improve efficiency. This report highlights how the mining sector is embracing such technologies to foster innovation and accelerate its transformation.

How digital technologies are supporting mining sector?

Declining ore grades, rising development costs, and more remote deposits are making the development of new mines more difficult. AI can solve both the problem of declining ore grades and more remote deposits. To optimize mining performance, miners are leveraging 5G connectivity to coordinate operations and generate data and insights from the day-to-day processes. By using AI, miners can implement predictive maintenance assess the condition of equipment and detect potential problems before they lead to equipment failure.

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. Miners are prioritizing more sustainable mining through reduced consumption of fossil fuels in power generation and a shift towards battery electric hydrogen-powered machines. Sustainability also applies to reclamation, where digital advancements such as VR and AR, data analytics, and cloud are supporting the reintroduction of flora and fauna and improving reclamation processes.

What are the key challenges faced by the mining sector?

Cost management, environmental stewardship, capacity building, supply chain, and efficiency are all common issues in the mining sector. Identifying the best way to integrate emerging technology can help players maximize yield while lowering expenditures.

Cost control:

Declining commodity prices, longer hail distances, falling ore grades, and rising material and labor costs place a greater emphasis on cost control.

Safety and sustainability:

Ensuring worker safety and minimizing mining’s impact on the environment.

Resource development:

Identifying viable new mines in an environment of declining ore grades, rising development costs, and more remote deposits

Supply chain:

As mining moves more into remote areas and in developing countries, greater challenges arise for operating an efficient supply chain

Productivity:

Mechanization and monitoring are supporting improvements in productivity and lowering cost per unit output.

Which technologies are helping the mining sector?

Over the last decade, the influence of emerging technologies like as AI, IoT, and 5G has increased substantially to solve different strategic issues across the sector value chain. The key technologies helpful for the sector are, 5G, artificial intelligence, big data, blockchain, cloud, Internet of Things, nano tech, virtual and augmented reality, and mobile technology.

Who are the major players in digital mine?

Major players in AI mine exploration are Datarock and Imago while Comstock Mining and Auryn Resources are major players in drilling target prediction. Newmont Corporation and Wood are key players in the drone segment.

Market report scope

Outlook period 2021
Companies covered 6th Wave, ABB, Akkio, ALROSA, Arvizio, Atomyze, Auryn, Baosteel, BASF, BGC, Carat, Carlson, ChAI, Claro, Clirio, Comstock Mining, Costmine, Datarock, Decipher, Delair, Deswik, Emesent, Epiroc, Ericsson, Esri, Everledger, Exyn, Ford, Fura, Fusion VR, Geotech, Glencore, GoldSpot Discoveries, Hemmera, Hitachi, IBM, Imago, Insight Enterprises, IntelliSense.io, Land Betterment, Loook, Microsoft, Minehub, MineWare, Movebank, MTS, Newcrest Mining, Newmont, Nokia, Nornickel, Propeller, Rio Tinto, RPM Global, Semtech, Sensilize, SGS, Sight Power, Summit Nanotech, Symboticware, Transco, University of Queensland, University of Wyoming, Wenco, and Wood.
Key Technologies 5G, artificial intelligence, big data, blockchain, cloud, Internet of Things, nano tech, virtual and augmented reality, and mobile technology.

Scope

  • Theme Exposure: presents the top themes impacting the sector over the last three years compared to other sectors.
  • Innovation Map: key real-world innovation use cases of emerging technologies implemented by enterprises and startups in the sector.
  • Innovation Insights: innovation examples by each value chain segment of the sector to present key trends.
  • Vendor Map: represents a sample list of vendors in each use case highlighted in the report.

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 became the key catalyst to drive the next wave of innovation across sectors.
  • The sense of urgency weighs different 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.

Key Players

6th Wave, ABB, Akkio, ALROSA, Arvizio, Atomyze, Auryn, Baosteel, BASF, BGC, Carat, Carlson, ChAI, Claro, Clirio, Comstock Mining, Costmine, Datarock, Decipher, Delair, Deswik, Emesent, Epiroc, Ericsson, Esri, Everledger, Exyn, Ford, Fura, Fusion VR, Geotech, Glencore, GoldSpot Discoveries, Hemmera, Hitachi, IBM, Imago, Insight Enterprises, IntelliSense.io, Land Betterment, Loook, Microsoft, Minehub, MineWare, Movebank, MTS, Newcrest Mining, Newmont, Nokia, Nornickel, Propeller, Rio Tinto, RPM Global, Semtech, Sensilize, SGS, Sight Power, Summit Nanotech, Symboticware, Transco, University of Queensland, University of Wyoming, Wenco, Wood

Table of Contents

Table of Contents

1. Sector innovation insights: overview

2. What are the key sector strategic challenges faced?

3. Which technologies are helping the sector?

4. Theme exposure map: sector benchmarking

5 Patent filings: theme benchmarking

6 Innovation map by sector value chain: key use cases

6.1 Prospecting + Exploration & Resource Evaluation

6.2 Feasibility Studies, Mine Planning & Development

6.3 Mining & Extraction + Processing

6.4 Marketing

6.5 Reclamation

7 Vendor map by sector value chain: key use cases

8 Methodology

Frequently Asked Questions

Major players in AI mine exploration are Datarock and Imago while Comstock Mining and Auryn Resources are major players in drilling target prediction. Newmont Corporation and Wood are key players in the drone segment.

Key technologies helping the mining sector include, 5G, artificial intelligence, big data, blockchain, cloud, internet of things, nano tech, virtual and augmented reality, and mobile technology.

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