Innovation is essential to the mining industry. New technology and techniques are constantly being used to make improvements, and new equipment is being produced to increase efficiency, especially when it comes to advances in automation.
Given the turbulence in the mining, oil and gas exploration industries in 2016, now is a ripe time for these manufacturers to review how they run their businesses, and to consider investment in new technologies that can help reduce costs, improve responsiveness and extract product with less costs. Along these lines, here are some of the main areas these manufacturers should look at in 2016.
Technological Advances
The annual Deloitte report: Tracking the Trends 2016: The Top 10 Issues Mining Companies will Face in the Coming Year looks at the challenges ahead for the mining industry, and one section is on technology.
The report suggests that companies need to focus on improving productivity and to make operational improvements, and that mining companies have a need to embrace new technology and take advantage of innovations.
This is exactly what modern mining companies like Castle Drilling Company are attempting to do. They understand the need to stay ahead of the game by embracing technology and innovation so they can take advantage of the benefits it provides.
Here are some of the areas that the Deloitte report covered that could provide some ideas for where the industry is heading over the next 12 months.
Growth of 3D Printing
3D printing is a technology that we hear a lot about these days, but mainly in a consumer context. However, some of the greatest advances are being made in the technology’s applications for industry.
It is already being used in the aerospace industry, and it is likely to have a big impact in the mining industry as well. Part of the attraction is that it will allow miners to make custom parts on demand, which can reduce delays and cut the need for unplanned maintenance.
Driverless Vehicles Could Start to Have More Impact
Driverless vehicles are another technology that is getting people very excited. While most of the news reports focus on the consumer market, such as how Google’s branded vehicles could change the way we get around, we should remember that this will also have huge implications for industries like mining.
For example, the report suggests that changes are being made in the mining industry in terms of adopting automated equipment, and that these could become more common this year. The benefits for miners are clear: better safety, greater efficiency, and cheaper running costs.
Use of Sensors to Gather Data
Another possible area of innovation is that of modern equipment using sensors to gather data. The Internet of Things (IoT) is another technology that makes headlines regularly, and this will involve the ability of devices to connect with one another to share data.
The report highlights that such equipment can provide huge benefits to the mining industry. Companies could use such sensors to gather data and share it with machinery across the whole operation. This can help to ensure that machinery runs more efficiently and troubleshoot problems.
Asset Management, Availability and Tracking systems can then take advantage of this wealth of data to then improve quality control, increase productivity, maximize output, enable equipment to run longer without failiure and ensure compliance. The benefits are numerous, so this technology is expected to become more common.
An Industry that Continues to Innovate
Mining is an industry that constantly innovates. These are some of the latest technologies that are likely to make an impact throughout 2016, so keep an eye out for these as they affect the mining industry over coming months.
If you liked this article, here are others you might also find interesting:
- Can Lean Manufacturing Transform the Mining Industry?
- Modern Mining is Transitioning to Support Manufacturing’s Need for New Materials
- 5 Ways 3D Printing Is Changing the Manufacturing Industry
- Driverless Vehicles Driving Manufacturing – Part 2
