Drastic innovation increases yield in mining
Use of technology and cooperation with chain partners pays off
It is certainly not the case that all mining companies are flourishing. Because of the low average prices and moderate outlook for global economic growth, mining companies will have no choice but to start working with new technological innovations. This increases profits and the stockholder value, while also improving staff safety.
Spending on exploration for new mines has decreased over the past five years, and that trend is set to continue. The Total Stockholder Returns (TSR) in the mining sector have dropped steadily since 2011. According to a study by Deloitte, global mining stocks performed considerably worse than the global stock index. In this white paper, you can read how mining companies can perform better at different levels, from exploration to chain cooperation and staff health and safety.
Rigorous digital transformation will help
Since the crisis, most mining companies have reduced their costs in a traditional way. As a result, there are far fewer easy wins. Genuine innovation is needed now to be able to achieve a sustainable improvement. However, the mining sector holds on to traditional reflexes and step-by-step changes. This means companies will also only take small steps in terms of raising their profit.
Cooperation with competitors in mining sector
In a playing field where cooperation and quick knowledge exchange are becoming increasingly important, a soloistic approach will probably not yield the best returns. It is becoming harder and harder for companies to organize everything efficiently by themselves, which is why they will have to cooperate with chain partners and even competitors. New technology also has a positive effect on productivity growth. Other subjects dealt with in the whitepaper include:
- IoT and robotization;
- RFID tagging and GPS tracking;
- wearables and mobile sensors;
- using data to improve safety;
- automated transport.
Optimum inventory management
Read how inventory storage becomes cheaper and more flexible, how the amount of waste is minimized and how IoT and data route planning can contribute to continuous optimization. Do not allow a lack of knowledge to hamper your profit growth and download the white paper.