Long-term trends are positive. Miners can’t control the vagaries of the world economy that shift currencies and commodity prices. You can mine the digital footprints left by the customer while they were interacting … How a Mining Pool Helps You Gain Bitcoin Mining Profits When it comes to mining, you have a higher probability of discovering and processing blocks if you have a higher mining power. But which of these will be the most used technology this year? Having a fully integrated network, monitoring every aspect of an operation … Mitchell said the International Council on Mining and Metals' effort to establish a global standard on tailings dams was an "excellent" example of industry successfully working as one to improve its brand. To improve project outcomes, mining organizations can: To maximize workforce productivity, companies must properly define their workforce assumptions and improve management across the talent lifecycle. Transition to quick-start modular plants and projects that can be expanded as industry fundamentals improve. In 2020, mining and metals companies are looking to recover from COVID-19, increase sustainability, and ensure public trust. © All content copyright 1997 - 2020 Spintelligent (PTY) Ltd,unless specified otherwise. Though the process of seismic surveys is not new, the use of 3d imaging technology helps to improve efficiency and helps to better understand special awareness. One of the biggest benefits of safety and productivity in the mining industry is through the use of a surface drilling rig by Sandvik. Peru enjoys political and macroeconomic stability. Reduce capital expenditures in properties with lower production potential and shorter mine lives. By using our site you accept the terms of our cookie policy. Strengthen the owner’s team by clarifying the business model governing mines, plants, infrastructure and sustainability. Productivity is about maximizing throughput per unit of time, per unit of quality and per unit of cost. Use production visibility tools to get an automated visual of mining operations from pit to port. With a number of technologies aiming to increase efficiency, and maintain the safety of employees, this new year could change the industry for the better. However, they can control how they operate. Innovation and adoption of breakthrough technologies could also help in the productivity battle, and the mining industry has room to raise its game here. Keep employees engaged through programs such as flexible rosters, training and long-term career development. In addition to this, artificial intelligence can also be used to manage transport as well as work within supply chain management to reduce the risk of human error and increase overall efficiency when it comes to the extraction and processing of raw materials directly from the plant. New uses for technology in the resources industry are regularly being uncovered. Currently, it is the third largest producer of copper and zinc in the world. Mining is a hugely energy-intensive business. Instead, industry productivity (defined as the GDP value contribution an average worker creates in an hour of work) needs to rise before companies can reclaim shareholder support and deliver bottom line value. In order to improve productivity, you can: Build a team of people experienced in mine planning to improve operations performance and keep an eye on the volume produced daily, mining locations, and the mineral content… Attract and retain experienced mine planners capable of improving operational performance and tracking daily adherence to production volumes, mining locations and mineral content. It's only relatively recently that we're starting to see that approach come in with mining. Seek out innovative technologies capable of unlocking deposits and improving productivity on the mine site. One of the ways that the mining industry is improving this is through the use of the internet of things. Technological advances are already revolutionizing mining, and investment in research and development by both government and industry … This site uses cookies which are essential to make the site function effectively. Zambian President intervenes to resolve heated mining tax debates The success of Peru’s mining sector stems not only from an abundance of rich natural resources, but also from an attractive legal and tax regime designed to support the industry. An inflection point for the mining industry. Mining companies have turned to digital transformation and the latest developments in machine automation, artificial intelligence, machine learning, robotic rescue devices, and equipment … Covid-19 has demonstrated that automated mining sites are highly resilient to disruption. 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