Innovative Technologies to Make Effective Business Decisions at Every Stage of a Mining Company’s Development

Modern Trends in Financial and Innovation Data Processes 2023. Volume 2

The digital transformation and automation of all business processes and production operations, using innovative technology, allows for well-informed strategic decisions and the stabilisation of the business. The metals and mining industry is not a “digital leader” and is 30–40%lessmature digitally than other similar industries, such as pharma, chemicals, logistics and others.Mining industry nevertheless has good potential for automation, digital transformation and advanced innovative technologies, taking into account a huge number of different influencing factors.

Process automatisation and specialised innovative technologies can be applied at each stage of mining project development: geological and operational exploration; geological interpretation and modelling; block modelling and resource estimation; economic assessment (pre- or feasibility study); optimisation and strategic planning, open pit or mine design, production scheduling and support; mining management and dispatching. Creating and evaluating multiple options at each stage makes each process iterative and allows different parameters and options to be changed and refined in real time. The company’s high level of digital maturity, introduction of innovative technologies and automation of production processes ensure that strategic business decisions are better informed at every stage of the mining business’ development.

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