Worldwide population growth, together with upward trends in urbanisation and industrialisation, will continue to drive increasing demand for commodities from mining and minerals industries.
According to the United States Geological Survey, each person uses more than 25,000 pounds of new non-fuel minerals on a daily basis. This is particularly through minerals processed into items we depend on such as electrical products and medicines.
As a result, mining companies must ensure they maintain a sustainable balance sheet to address these demands.
Productivity is one of the top three concerns for miners, followed closely after cash optimisation and capital access.
Innovation is one of the key drivers for improved productivity and around 46 per cent of business leaders acknowledge the power of digitisation to provide long-term competitive advantages for their business.
Digitalisation will transform every stage of the mining industry’s value chain. A recent study from Accenture found that by implementing digital technology:
- 64 per cent of executives were satisfied with their digital investments
- 47 per cent cited better operational performance
- 42 per cent reported on operational/administrative cost savings
- 40 per cent saw better decision-making process
Therefore implementing digital transformation and innovation in these four main areas will be a positive impact on a company’s bottom line.
With 82 per cent of mining executives looking to implement digital technology to drive their business forward, it is crucial to find ways to adapt to ensure your company remains competitive.
Schneider Electric will host a Digital Mining Transformation webinar on August 30 where Doug Warren which will explore how mining companies are usting digital tools and processes to enhance operational performance.
Date: Wednesday, August 30, 2017
Time: 11:00 AM (Australian Eastern Standard Time)
Duration: 1 Hour
To sign up for the webinar, click here.