Focus on Safety & Efficiency will Boost Demand for Smart Mining

The mining industry is at a precipice of change, with changes in the marketplace promoting a majority of the key players to have a rethink on their strategy and business models. Mining has been traditionally related to as a risky business, considering the impact to the environment and the dangers it poses to the workers. Owing to the dangers associated with it, governments around the world have increased their regulation on mining sector, and today, many miners find themselves in a position where change and adaptation remains the only way forward.

Sustainability remains a key challenge for today’s mining companies. The ecosystem in which miners operate pose a constant security threat and this is where technology can come to the rescue. Smart mining, which involves the use of automated systems and technology, can provide the much-needed impetus to the mining industry.

It is not as if that incorporation of automated technology is not being adopted by mining companies. According to a survey conducted by Future Market Insights with some of the leading mining companies in the world, a majority of miners agreed to use some sort of automated systems in their operations. However, around one-third of respondents said they had not yet incorporated smart technology.

New smart programs can help the mining industry in keeping a track of their workers. In case of emergency situations, use of GPS, RFID, and collision detection technology can help speed up the rescue operations. Smart technology can help mining companies in improving the safety mechanisms in their premises.

In addition to safeguarding the workers, adoption of smart technology can also help mining companies in managing their affairs in an efficient manner. Use of identity management software can help in keeping track of access rights, permissions, and adherence to site security.

Overhead cranes account for a majority of injuries to workers on the site. Avoidance of injuries due to overhead cranes has been a key challenges for most of the mining companies. Today, thanks to the innovation in the RFID technology, mining companies can manage this aspect more efficiently. Integration of RFID position information can help alert the crane worker and send out warning or alarm signals so that workers can move out of danger.

As discussed previously, mining companies have faced flak for not doing enough to mitigate the impact of their activities on the environment. As consumers around the world become more aware about the harsh impact of mining activity on the environment, pressure has been mounting steadily on mining companies.

Incorporating of smart technology can be the way forward in complying with environmental conservation guidelines. Smart tools and equipment is now available to miners which can help them in managing consumables, such as carbon, fuel, and water, in a more eco-friendly manner. Waste management techniques, re-habitation, and an analysis of productivity vs. environmental impact can also help the mining industry in reducing their carbon footprint.

Using technology in mining operations can also help enterprises in managing their assets in a more transparent manner. By incorporating smart technology, mining companies will be able to take a wider view of asset classes and manage the life cycle of their assets holistically.

Overall, smart mining will be more than just a buzzword for mining companies, as they realise the benefits of incorporating technology. According to Future Market Insights, the smart mining market will witness a CAGR of 14.5% through 2020. The future is bright for smart mining and key stakeholders in this business can look for robust demand in the near future.

Browse Full: "Smart Mining Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020" Market Research Report at http://www.futuremarketinsights.com/reports/details/smart-mining-market