The mining industry is one that has seen a lot of developments over the years. As new technology edges its way into the modern world, mining companies are realizing how important it is to implement this technology.
The more technology that is used in the mining industry will mean that there will be smaller workforces required for operations to successfully be conducted. While there are worries about the future of miner jobs, it should be noted that the implementation of technology will mean that the jobs miners are doing will be safer.
Clareo has laid out key forces and trends that are shaping the mining industry. These include there not being long-term sustained demand for commodities, growing environmental and geopolitical concerns, difficulty in keeping mines in operation, and underinvestment in technology and innovation.
IBM suggests that technology be involved in restoring agility and flexibility in the value chain, shifting to a value creation mindset, increasing production and productivity, reducing waste, cutting down the need for people, improving the planning process, enhancing recovery rates, aligning organizations around strategic goals, and increasing the overall strength of business.
Another thing to take into consideration is the need for more STEM experts. It is estimated that 70% of future jobs will be related to STEM. Appropriate training with experts ready and able to apply their knowledge in the real world is critical.
A report made by PwC stresses that the mining industry needs to modernize if it wants to succeed. One of the advancements it explores is blockchain technology, which can be applied in supply chains to track from extraction to sale.
Innovative Minerals is a gold mining company with a blockchain plan that will change the way that gold is mined and how people invest in it. In offering a cryptocurrency backed by the gold that it mines, Innovative Minerals will help lead the way to the future of gold as we know it. To find out more, go to www.innovative-minerals.io.
Sources: Mining Review Africa, Clareo, IBM, Rio Tinto, PwC
