The mining sector is quickly becoming digitalized with the introduction of various new technologies. As we approach the halfway point in the year, we look at four digital mining trends that are becoming established in 2019.
Industrial IIoT for efficiency
IIoT is the future of our industry – and it’s already here.
Like automation, IIoT has the potential to change the way industry communicates with itself. Instead of a long, convoluted paper or manual processes, IIoT brings everything together.
IIoT also complements automation in mining, because it allows machines to talk to one another without human intermediaries. This ensures efficiency, and cost-saving, within the process.
Backed by blockchain technology, this data becomes even more secure.
Blockchain for security
We couldn’t go without mentioning blockchain in mining. After all, our platform STAMP is blockchain-enabled and designed for the mining sector.
Blockchain technology will be a key part of ensuring that digital mining is secure and resistant to external interference or attacks. It also helps bring all information together in a unified whole.
Blockchain has a myriad of uses in mining, from supply chain and fuel tracking to data management. You might have seen blockchain in the news because of its potential in ensuring corporate governance – ethics and sustainability – however, its potential extends much further.
The importance of data
The future of data management relies upon IIoT’s potential and blockchain’s flexibility.
Artificial intelligence and automation are also a key part of the increasing importance of data. AI provides analysis of real-time data, removing human error.
Automated machines are widespread in mining nowadays. It is important that we receive the data from their processes and that that data is analysed (often by AI), to detect any abnormalities.
Digital mining supply chains (‘Supply Chain 4.0’)
The digital supply chain is, fundamentally, the composite of each of these separate things.
Supply chain 4.0 uses:
- Data importance
- Ethical and sustainable governance
And this, in turn, creates a supply chain that abandons traditional processes for modernised digital ones.
The digital supply chain is fundamentally traceable and decentralised. With the help of automation and AI, it can run with limited human intervention and labour to ensure efficiency and cost savings. This means ensuring that mining supply chains are without conflict minerals, that mining operations encourage sustainable prosperity, and that the work labour engaged is ethical.
Technology allows us to see that supply chains are ethical, sustainable, and without corruption or fraud.