Technology & equipment
Predictive analytics in mining operations can diagnose equipment issues potentially months before failure.
operations, but saves money in parts and labour, and can even extend the life of equipment.”
The environmental algorithm In the past, meaningful data analytics were out of reach for most mining companies for a variety of reasons, ranging from the lack of digitalisation and the resulting presence of analogue assets that could not capture data to the patchy connectivity in underground operations and a lack of a clear ROI on data-driven decision making – all of which offered little incentive for large-scale adoption. Instead, this technology was adopted and developed in other sectors, such as manufacturing, which went on to enjoy the downstream benefits.
30% GlobalData 26
The percentage increase in mentions of big data within the filings of mining companies between the first and second quarters of 2022.
The technological landscape has now changed, however, and as digitalisation continues to slowly seep into mine processes, so too do the benefits that predictive analytics can provide. Beyond equipment and machinery maintenance, predictive analytics also offers solutions to the ever-evolving ESG environment – particularly valuable as the effects of climate change make themselves known. Water stewardship and biodiversity are fast becoming major issues for the industry, particularly in the so-called Lithium Triangle of Argentina, Bolivia and Chile, where lithium mining relies on the evaporation of brine. Improving a mining company’s ESG performance and accountability framework is becoming increasingly important in mining districts around the world. Accurate and up-to-date data capture and analysis are essential in order to better assess risks and opportunities in this area, and articulate these through transparent, out-based measurement and assurance. Operators that achieve this can get an edge on competitors in many ways – from accessing capital to securing a licence to operate and attracting talent. One way to ensure better, faster decisions, however, is to increase investment in data capabilities. In 2022, many mines have implemented some form of daily and monthly reporting based on the data obtained from their operational processes. Mining
company Barrick Gold, for example, was able to reduce environmental-permit deviations by 45% after using predictive analytics to help ensure environmental compliance. In terms of water conservation, the mining industry now operates in an environment in which water is highly regulated, experiences unforeseen supply shocks and carries substantial social value. By 2024, water-operating expenses are estimated to increase by a 1–4% compound annual growth rate (CAGR), according to Wood Mackenzie. The mining industry has made considerable investments – an estimated $15bn in 2019 alone – to reduce water withdrawal and increase water efficiency in operations. A central part of this is water reuse, where water is reclaimed after processing and treatment – helping to address low water availability in stressed areas and greatly reducing expenses. It’s here that predictive analytics can best be put to use, enhancing automated routines and optimising plant performances. Anglo-American, for example, has pledged to adopt techniques that will allow the company to reuse around 80% of the water throughout its mining operation, saving an estimated $15m per year.
Another key area that predictive analytics can help improve is in air pollution and mine ventilation – a key aspect of any underground mine, as it’s vital for safe operations. Deep beneath the ground, the air quality is often negatively impacted by vehicle emissions, heat and humidity, and toxic gases. In recent years, ventilation-on-demand (VOD) has been used to monitor air quality in underground operations, enabling mines to adjust ventilation according to the specific activities taking place at any particular time. However, when paired with asset radio-frequency identification (RFID) tagging and tracking technology, VOD can do more than improve air quality and mine safety – it can help improve energy efficiency too, helping to reduce a mine’s environmental impact. This approach to underground ventilation is becoming more widespread across the industry as sensor technologies, IoT devices and the resulting data analytics capabilities have now reached a sufficient level of maturity. As with any technology, predictive analytics will become more advanced and beneficial to the mining industry the more it is implemented – and, indeed, the global predictive analytics market is expected to grow substantially in the coming years, with projections valuing it at $28.1bn by 2026, according to MarketsandMarkets Research.
While more risk-averse mining companies might hold off on embracing this emergent technology, they will risk missing out on the benefits as it becomes more widespread. And in today’s highly competitive market, with every operator looking for an edge over their competitors, this choice could mean the difference between life and death across the industry – where a company’s long-term financial well-being is concerned, of course. ●
World Mining Frontiers /
www.nsenergybusiness.com
SeventyFour/
Shutterstock.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37
