Regardless of size or scope, mining operations everywhere are experiencing renewed profitability pressures from two directions: continued commodity pricing volatility and global demand variability.
This has caused mining companies to reevaluate business models and seek smarter, more efficient modes of operation that focus on sustainable cost management practices and improved productivity. Many of the world’s leading industries—manufacturing, oil and gas, healthcare, and others—have also recognized this need for change. While the exact improvements vary from industry to industry, the path to transformation is similar: an emphasis on process improvement through the application of leading-edge digital technologies across the Industrial Internet value chain.
By harnessing the combined power of machine sensors, edge-to-cloud connectivity, advanced data capture, and powerful analytics, the Industrial Internet can deliver deeper insight into mining operations than ever before. These insights can then be used to drive intelligent recommendations for improvement—from asset lifecycle management to condition-based, prescriptive maintenance programs. This approach has already yielded breakthroughs in improved efficiency, increased asset availability, and optimized processes in many other industries.
Those in the mining industry who embrace this need for industrial transformation sooner will have a distinct advantage over competitors who choose to delay their journey to modernization and digitization. Take these companies, for example.