Emerging technologies are no longer important to the future of mining, they’re essential. Global Head of Natural Resources, Rowan Phendler, discusses how it’s being used now, and its future potential within mining with some of the leading figures in the industry.
From increased productivity to sustainability, and from strategy to partnership development, technology plays an integral role in every part of the mining industry. Over the past few years, artificial intelligence (AI), machine learning (ML) and 5G has dominated the technology landscape with improvements and new uses happening every day. But with the sheer amount of technology available, new skillsets are required along with a commitment to long-term capital to implement and support deployments.
To meet society’s needs, the requirement for minerals and metals is only going to increase. The International Energy Agency has stated that meeting net zero would require a 50 percent increase in copper production by 2040, double the production of nickel, cobalt and rare earth elements (REEs) and a four-fold increase in graphite production. To do this, more mines need to be developed and built quickly, while simultaneously managing the current reserve scarcity, labor challenges and capex demand.
Technologies making the biggest impact
Speaking with leaders from boutique and large mining firms including Rio Tinto, Deloitte, Newmont Corporation and I-ROX, a number of technologies were raised with an emphasis on AI, machine learning, automation and data processing. Other areas of note included:
- Electrification and decarbonization: including new battery chemistries, electric or power-agnostic vehicle platforms, vehicle charging and renewable technology.
- Mineral processing: increased efficiency processing minerals whilst maintaining a low carbon footprint.
- Reprocessing and waste valorization: utilising eco-friendly deep eutectic solvents for metal recovery and recycling.
- Big data, AI and machine learning: combined, each of these three areas has the ability to optimize each part of the mining value chain enabling sites to be more agile, efficient and reduce downtime.
- Internet of Things (IoT) and 5G connectivity: facilitating real-time data collection and communication across mine sites to aid decision-making capabilities, optimize operations and ensure safety.
- Automation and robotics: this can include teleremote operated equipment, fleet management software and advanced process control solutions, reducing pressure on areas that are talent or resource starved.
“Mining, like many industries, has traditionally relied on standard processes and incremental improvements to unlock value. But by leveraging AI and re-examining our data, we can achieve significant advancements and potentially redefine our future operations.”
Luis Canepari, Chief Information Officer, Newmont Corporation
Innovating in an ecosystem
Seed funding, partnering with large mining firms to pilot technology and rolling it out without disrupting the current tech stack and established processes and workflows, are major challenges faced by startups and SMEs.
However, as rapid change continues in the industry as a whole and in the world of technology, attitudes are starting to change. No one wants to be left behind, and in a world where business and technology landscapes are continuously developing, more firms are becoming more curious and courageous in their ventures.
“Fundamentally this boils down to risk appetite. The mining industry is notoriously risk averse, and with good reason. However, this attitude is beginning to shift, particularly in how actively miners are engaging with innovators for things like on-site pilots.”
Nathan Flaman, Chief Executive Officer at I-ROX
Acceleration programs
As a solution, many large and mid-tier firms are creating their own programs including corporate venture capital (CVC) arms, incubators and acceleration programs and using open innovation platforms to engage with startups and SMEs.
Sonia Scarselli, former Vice President of BHP Exploration and BHP Xplor, shared her experience with their program. “Xplor is a true acceleration program because it provides cohort companies with funding, network connections and technical and operating capabilities to develop their concepts that they might not otherwise have the budget or scale to access. […] we had one cohort member company that developed a new AI tool for mineral exploration but lacked the data to train it and verify their results. We were able to provide that, and the team saw remarkable results – the error on their predictions was less than two percent. In return, the BHP team gained exposure and understanding of a potentially very important technology.”
Rio Tinto also utilizes a number of options to engage with startups including a dedicated venture capital fund which is now working with 10-20 companies. One of the funds first investments, Aymium, has created a Metallurgical Carbon product to immediately replace coal and coke in steelmaking with no capital modifications.
New skills
To harness the full potential of emerging technologies, new functions, skills, and roles are required ranging from data scientists and analysts, automation and robotics engineers, cybersecurity, sustainability and environmental specialists and remote operations center (ROC) managers.
Andrea Culligan, Climate Agenda Lead Partner at Deloitte, Australia, stated that “While technical expertise such as geology, geotechnical, engineering and metallurgy will remain critical, skills such as digital and data literacy, technical integration, […] will soon be just as important. This combination will enable the industry to navigate the complexities of modern operations, sustainability goals and technological advancements.”
With many technologies able to be controlled remotely, this opens up the talent pool and increases the cultural and skills diversity making it a huge benefit at all levels.
Mining for tomorrow
It’s clear that emerging technologies currently are, and will continue, to redefine the mining industry for years to come. What’s imperative right now is for executives to ensure they are staying ahead of technology trends, create effective models to bring in new and innovative products that are viable for the long-term and resilient.
When taking into consideration the people of their business who will ultimately be the core users, identifying long-lasting tech and creating new processes that aid existing ones, the adoption of new technologies will help businesses to be more sustainable, productive and help change the perceptions of the industry. In turn, this will help attract new and diverse talent, an issue that many find a challenge.
Read what else was discussed by downloading Rowan’s latest white paper, “Transforming mining through technology”. To be the first to hear about our latest white papers and insights, sign up to our newsletter.
