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The Times They Are A-Changin’ is a song we listened to as youngsters. Times are certainly changing. That too at a rapid pace and the Mining and Metals sector will have to keep up. After all, this is the sector that will drive overall economic growth as India strives towards that US$ 10 trillion mark. And technology holds the key to how the future shapes up for this vital sector.

Reduction of Carbon Footprints

The industry will need to bring down the emission of greenhouse gases to survive. There is simply no choice. Technology will have to play an important role in bringing about this transformation. Equipments may have to be replaced, just as waste of energy and other resources would need to be checked. There will be a need for low-emission energy and transportation systems that will rely on minerals rather than fossil fuels. As the demand for minerals rises, the mining sector will also have to move towards greener operations. Renewable energy will have to be used for trucks and machinery. Electric vehicles will have to be introduced and waste recycled. Technology will have to be brought into use for locating adequate reserves and making optimal use of resources. Technology would also enable the location of deposits of high-grade minerals. This would help prevent wastage and pollution during the conversion process to metal.

Use of IIOT to monitor and control critical assets

Smart sensors are the need of the day for real-time monitoring and control of assets that are vital for uninterrupted operations. The mining sector can keep close watch on the health of steam traps, water ponds and the vibration of critical drives. Similarly, the utilization of underground fleets of vehicles can also be monitored for optimization purposes. Companies will also have to introduce remote operations for additional production and safety of operations. Remote operations allow visibility and handling of equipment from a distance. Tele-remotes have greater range and more features enabling better control.

Exploration of new locations

The enhanced demand from industry for high-grade minerals with less impurities will witness the running out of deposits. Mining companies will then have to dig deeper or look at areas where operations were considered economically unviable in the past. Both of these will require the use of technology. As high-grade deposits at greater depths are located, modern techniques would be needed to extract the minerals. Human intervention may not be possible beyond a certain depth. In-situ leaching, block caving and bio-mining are technologies that may be introduced. At the same time, technology will have to come into play at locations that were considered economically unviable in the past. Other costs may have to be reduced for the introduction of such technology. Gradually, the area of operations may move to the sea, involving more technology.      

Use of Technology for Safer Mining

Mining companies may use collision avoidance systems to improve operator situational awareness in underground mines. This could prevent machine-to-machine and man-to-machine interactions. Such accidents are not only a risk to human life but can also hold up operations. Miners can also be protected using personal tracking systems. This allows two-way communication from the control room to individuals at the site. 

Need for Stable Power Supply

To ensure uninterrupted operations and the safety of valuable equipment, stable power supply is important. Power tripping and voltage sag or swell is a curse for any production unit. Technology will have to play a key role in preventing this, even where captive power is used. Technology will also come into play as alternate and renewable sources of energy are exploited. The use of renewable energy has already started for non-core operations at several companies. Such supply has to have strong technological back-up.

Technology in Manpower Development

Serious efforts will have to be made to set up proper training facilities for the workforce to introduce them to technological advancement. Such training may also be extended to others who may be absorbed as trainees or apprentices in the future. Such facilities can have 3D simulators and virtual reality laboratories where skills can be developed and honed before they begin work in a technological-enhanced environment. Operators can undergo Virtual Reality and Augmented Reality-based training for better safety, fewer interruptions in operations and increased production.

Importance of Data Mining

Data mining is important in today’s world for all sectors. More so for the Mining and Metals industry. Data mining gives access to new opportunities and markets while helping companies select the best operational philosophy. Data mining is the processing of millions of pages of information to arrive at the best solution. This requires advanced technology.

Technology will aid in new ways of financing

Greater induction of technology and enhanced production targets will require more funds. New ways of financing will have to be explored. The focus will have to be on reducing debt ratios and improving balance sheets. Technology will again be required to spread the risk of new capital-intensive projects, while keeping the interests of investors safe. Technology can be put to use to decide on tie-ups, mergers or acquisitions, without which stagnancy is likely to set in. Diversification in operations will also require technological support.

Hence, technology is an area that cannot be ignored, particularly by the Mining and Metals industry in these times when transformation is the key. It is a technology that will bring about sustainability in the sector that is at greater risk of running into hurdles as more stress is laid on a cleaner environment and new modes of production.