Mining industry to ride on the wave of digital transformation
With digital transformation making its way into various industries, the mining industry is no exception. The mining companies have shifted their strategies, focus, and operating models to ride on the wave of digital transformation. Novel technologies in explosives and blasting have made their way and proved to be more crucial for carrying out bottom-line improvements.
According to Joe Keenan, the MD of Johannesburg-based blasting company BME, outlined that variations in global demand, volatilities in market conditions, and various input economics accounted for a significant shift in the market. He added that automation technology in mining, digital employees, innovative analytic capabilities, and operations from remote locations are some of the instances in which technologies would bring disruption in the mining industry. BME offers turnkey blasting capabilities, which are based on the investment in these technologies. These technologies integrate the cloud storage data and mobile computing to improve productivity, safety, and transparency. This enables rapid and better decision-making. Moreover, Keenan outlined that the Internet of Things (IoT) would play a significant role in driving mine profitability with efficient, safe, and automated operations.
Commenting on its system, Mr. Keenan outlined that the company’s AXXIS centralised blasting system avails the benefits of electronic detonation while used in the underground environment. This detonation has active monitoring and detection capabilities offering the mines the capability to take necessary actions before the blast takes place, instead of only taking the remedial action after the blast. He added that the capabilities of this system’s data collection offer rapid insights and better blast prediction with the help of advanced data tools and analytics. Moreover, it enables data visualization with the help of dashboards and offers ease in information accessibility.
In the similar way, the XPLOLOG technology of BME tracks the activities and performance related to charging, drilling, and stemming at the blast site. In addition, this technology handles the utilization of various resources including emulsions. The XPLOLOG notes down the detailed information of each hole and finds out inconsistencies related to the factors that may harm the quality of a blast. He added, “This easy-to-use tool can upload and download data, presenting it on a dashboard for better management decision-making – and integrates with our powerful BLASTMAP III design software.”
The advent of new technologies would play a significant role in the industrial explosives market. According to the research firm Allied Market Research, the global industrial explosives market is expected to garner $15.88 billion by 2022. The companies have been commercializing the technology to offer various benefits to customers. BME has a staff of experts such as engineers, physicists, and chemists. It would enhance the various aspects of the company’s offerings, ranging from emulsion formulations to mobile app technology.
The scenario in the Mining 4.0 is not related to commodities. It is focused on implementing technology and becoming better as an industry. This implies that the increase in collaboration activities between miners and partners has been taking place. Moreover, customers have been encouraging market players to adopt new mining technologies and collaborate with them for devising novel solutions for the industry as a whole.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.
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