Reliance on older technologies holding mining industry back from modernisation
JOHANNESBURG (miningweekly.com) – For mining to effectively move towards modernisation, digitalisation and mechanisation requires “radical solutions” and a proverbial leap of faith in new technology and techniques that are able to transform the industry into a more lucrative and efficient one, says Anglo American subsidiary Kumba Iron Ore CEO Themba Mkhwanazi.
Speaking at mining networking platform, Africa Mining Network, held at the Wanderers Club, in Illovo, on Wednesday evening, he said that, to date, modernisation and the incorporation of new innovations has been undertaken on a mostly small incremental basis in what he described as a "general fear of the unknown" and too heavy a reliance on existing methods and technology that worked sufficiently but only during the boom years.
He noted, however, that relying on methods and technology that are rapidly becoming outdated can only maintain mining output to a certain point.
On the other hand, the latest innovations and technology can improve mining efficiency, reduce the risk of harm to humans and contribute to higher profit margins.
Mkhwanazi stressed that a massive paradigm shift in the mining industry was imminently required to ensure its relevance in the future.
Such a paradigm shift will only be possible on the back of large-scale investment into research and development for new technology and updated techniques.
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