The industrial sector is rapidly transforming. New regulations, advances in technology and ever-changing geopolitics continually push the field in new directions.
The mining industry is no exception. Market volatility has created one of the most difficult periods for the mining and metals industry in decades. History has taught us that the demand for these important
resources will increase over time. Organizations that can adapt to this new environment will prevail in the future. We have identified three primary drivers that we believe will shape the modern mining industry.
Automation Will Modernize the Mining Industry
Automation can be a double-edged sword. However, if implemented with foresight, technology can provide far more benefits than drawbacks.
Drone technology, for example, can help identify new resources that have not been technically or economically accessible. New technology can also improve safety. Automated transportation of materials is another way technology can reduce risk on the job site.
There is also an increased demand from consumers for resources to be sourced responsibly. Advances in cameras and other monitoring tools can provide transparency and demonstrate that both the environment and the workforce are being treated properly.
Organizations that can partner with communities to provide educational and vocational job training initiatives will see long-term benefits. Not only will these organizations have a skilled workforce ready to implement emerging technologies, but they will also strengthen their relationships with local governments and the people who work and live where mines are located.
Reducing Carbon Emissions Through Modern Mining
Consumers and regulating bodies alike are looking to reduce carbon emissions. Electric cars are one solution. Renewable energy cars and electric-powered cars are reducing carbon emissions, but many are more mineral-intensive than fossil-fuel-based transportation options. The increased demand for lithium batteries will drive demand for lithium mining, for example.
At the same time, regulatory requirements are also driving mines to reduce emissions in their operations. Mining companies that can power operations with renewable energy sources will be better poised to adapt to these new regulations. Electric or hydrogen-powered transportation fleets will be important for operation and distribution. Companies that can produce low-carbon or carbon-neutral minerals will be in high demand.
Modern Mining Will Drive Efficiency in Capital Projects
As the mining industry becomes increasingly complex, it will become that much more imperative that owners and operators find efficiencies in their capital projects. Mining infrastructure must be ready to meet the operation requirements needed today and tomorrow.
An experienced Engineering, Procurement and Construction (EPC) company, such as Matrix Service Company, can provide a valuable and cost-effective solution.
Matrix Service Company is poised to handle a broad range of project requirements. Our depth of experience in this specialized industry means we can complete a capital project at the highest
standards. Material handling, mineral processing, and environmental control systems are just a few of our capabilities. From feasibility studies to site commissioning, we have a turn-key solution for your next project.
The Future of Mining
In conclusion, mining companies that can adopt automation, reduce carbon emissions and complete capital projects efficiently will be ready to face the future of mining. Organizations that lead the industry through these positive changes will be valuable to the communities and industries they serve. Matrix Service Company can help you plan and execute a capital project with efficiency and economy in mind. Contact us today to learn more about our services.