The mining and metals industry is facing an unprecedented paradigm shift due to the adoption of a number of new technologies and social challenges. By raising this awareness and focusing on new digital solutions, there’s also an increasing demand for materials, as well as pressure from investors, that makes the mining and metals industry is expected to strengthen its fundamental role in a rapidly developing global economy.
Given the Covid-19 pandemic outbreak, in order to be successful in implementing the above approach, there should be a number of things that the mining industry needs to go through in order to keep growing and being focused.
Better transparency as well as fostering environmental, social and governance principles are essential for mining companies to successfully operate in the global market. A number of regulations that have been established both by the government and also globally, have raised the awareness of mining companies around the world. The goal is to maintain the mining area management permit, from extraction to production to transportation.
Technology Application and Innovation
So far, the mining industry is considered relatively old-fashioned and the presence of new technologies is expected to create interesting advances. Use of devices to monitor working units for loading, transporting and dumping will help the business as a whole. They will also increase the company’s competitive advantage.
The pandemic outbreak has also accelerated the adoption of automatic mining equipment, as mining companies have begun considering steps to maintain production levels in the event of the outbreak.
General digitization activities as well as evaluation of mining data have now become the technical basis for more complex mining application applications. By analyzing and collecting data, efficiency can be increased so as to reduce operational costs.
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The adoption of new technologies requires a suitable workforce capable of operating increasingly complex machines. Finding the best individual to fill this position may be relatively difficult, because they also have to be able to regenerate workers who have entered old age. Thus companies also need to consider a special approach to be able to build an interdisciplinary technical workforce.
Supply Chain and Political Conditions
Covid-19 has forced a number of countries to fully realize their dependence on metals and minerals, and this has changed the way the government views mining and metals projects.
The implementation of critical strategies and building local industries has always been the most important thing for those involved with industrial policy. However, the crisis, as well as the instability of the supply chain have brought this problem to the political conditions of a government.
Source : Edo Fernando & Fajar Primayudha @ dunitambang.co.id
Written by : Alexander Hikmala