Running a mining business in the 21st century is far from simple. With the rampaging climate change and attempts to stop it, coal mining might be in trouble, while the renewable energy industries might require specific metals in order to grow. The technological innovations in the field of smart tech, wearables, AI and big data may provide mining business owners with far greater insight into their operations. All in all, there’s a need for innovation at virtually every turn. So, what are some of these contemporary trends that are currently shaping the mining business? Let’s find out.

Mining and big data

The first thing worth taking into consideration is the application of big data in the mining industry. However, big data is just the tip of the iceberg. It’s a raw material waiting to be processed. Therefore, the concepts of BDM (big data management) and big data analytics are just as important. Without them, there can be no expansion of big data in the mining industry. This industry is incredibly dependent on information and communication, which is why this concept can reshape the entire field.

Low-carbon economy transition

The transition to low-carbon is an incredibly important topic ever since the Paris Agreement. This means that the techniques and methods used in the extraction industry are bound to evolve, as well. First of all, the low-carbon electricity generation methods have certain metal requirements, which will increase the market demand for certain ores. Solar PV technologies, wind turbines, infrastructure development and even carbon-constrained projects of the future will all rely on the mining industry. Increased demand for these items might also increase the interest of various investors and even innovators in this field.

Maintenance and e-commerce

The concept of maintenance usually comes down to the replacement of parts, which is a field of the mining industry that e-commerce might completely revolutionize. Finally, the acquisition officers in certain companies will have a broader selection of quality conveyor parts and similar elements. The fact that the majority of online platforms offer a long list of product features and characteristics, it will be a lot easier to make a side-by-side comparison. Placing an order and getting a delivery will also become a lot simpler.

Advanced training through AI simulations

The safety of the staff is always paramount. Even with all the advancements in technology, the mining industry is still not one of the safest fields out there. First of all, it’s a field that works with heavy metals, flammable materials, dangerous gasses and operates heavy machinery. With the help of AI-backed simulation training tools, the level of preparedness of an average worker in the mining industry could be drastically elevated. In turn, this would lead to the scenario where lives are saved and the overhead reduced. Better training also ensures much better productivity.

Smart wearable equipment

In the end, it’s important to mention that the future of PPE and workplace safety, in general, lies in wearable technology. The first benefit that comes from this is the fact that it can help provide wireless connectivity and track the real-time location of workers in certain areas. This means quick notification in moments of emergency. Another thing worth taking into consideration is the gathering of workplace data. This would help compile a more reliable list of statistics, which would further be used to give a sizable boost to the industry.

In conclusion

In the end, it’s nearly impossible to accurately predict the future course of any trend but following indications is usually a smart way of establishing a strategy and planning for a future course of action. With all of the above-listed said and done, keeping an eye out on some of these ideas might not be such a bad idea after all. Planning their implementation and setting the budget for this particular purpose is what being ready for the future is all about.