VANCOUVER (miningweekly.com) – A new report by professional services firm EY has identified an encroaching digital disconnect between the productivity potential from digital transformation and the poor track record of implementation in the mining sector.
In its report entitled ‘The digital disconnect: problem or pathway’, of the 700 respondents polled in an EY survey, only 31% answered digital is high on their agenda; 15% said it is not on their agenda at all.
"Leading mining and metals companies are starting to look more strategically at the digital opportunity. There are big opportunities around digitisation and automation in field operations. By increasing efficiencies through things like artificial intelligence for exploration, automated mining trucks or advanced simulation and optimisation tools, operators can address productivity and cost challenges,” EY BC mining and metals advisory services leader Iain Thompson stated in a press release.
EY added that despite a successful track record of new-technology implementation, including plant control systems, global positioning services technologies, automated haulage and data storage, there remain challenges with mining companies adopting the technologies.
"Companies are hesitant when it comes to making digital investments. While concerns around everything from perception to implementation are real, the key is to have a clear vision for what a digital future might look like. With that vision, companies can better address their top operational risk: productivity,” Thompson said.
By identifying areas for improvement and where past successes have been won, mining operators can make the jump to digitisation, increase productivity and decrease costs. “The bottom line is the mining sector needs to embrace the digital opportunity or risk falling behind the productivity curve,” Thomson noted.
EY added that digital is a key enabler to achieving the next level of productivity improvement and that companies must apply the same rigor to digital transformation that they would any other change programme.