Changes in the mining industry – Global Mining Review
‘Digital’ is a common word in the headlines of the global mining industry , being such a broad term, Suresh Nagarowth, Vice President Global Head of Delivery, Energy Utilities, Cyient, would rather refrain from using that term by itself would focus on the actual technology under that umbrella the impact on the mining industry. Based on his conversations with leaders from various global mining majors, he has compiled three such changes their drivers which are re-shaping the mining industry which, although not the three biggest changes in the mining industry, are definitely three important changes nevertheless.
Change 1: Mining majors are getting smarter effective in the identification of new mining targets
Identification of new targets is of prime importance mining majors want their geologists to have access to geophysical geochemical data from pilot holes, legacy public information at the click of a button. Traditionally, miners struggled in managing this data given the massive size of the data a wide variety of data storage formats. Now miners are leveraging technology to ensure that data is digitised, structured, indexed, easily accessible, searchable. In addition, technology is used to extract insights to aid geologists in their job of establishing new targets.