Technology innovations in the mining industry in 2024
Published by Will Owen,
Editor
Global Mining Review,
The mining industry has long been synonymous with heavy machinery, vast expanses of rugged terrain, and intensive labour. The industry has grappled with unprecedented challenges in recent years. From labour shortages and supply chain disruptions to the increasing pressure to reduce environmental impact, companies are seeking innovative solutions. In 2024, the sector is experiencing a transformative wave driven by cutting-edge technology, like transportation management systems (TMS), to empower shippers to overcome these challenges. These advancements are enhancing efficiency and safety, addressing environmental concerns, and optimising resource utilisation.
Many current challenges in the mining industry can be addressed with transportation management solutions. Unscheduled downtime due to equipment failure can impact productivity. Inefficient utilisation of vehicles and equipment leads to higher operational costs and wasted resources. Coordinating the movement of vehicles and machinery across large, often remote mining sites is complex and challenging.
Technologies to address transportation issues in the mining industry include:
- Transportation management systems automate and streamline transportation processes to improve operations and provide opportunities for cost savings. From carrier management to process automation, a TMS optimises logistics processes and strengthens supply chain resilience. The TMS allows mining companies to enforce contracts, tender loads, and provide real-time communication with carriers and customers. TMS solutions with an expansive-tendering algorithm drives least cost carrier utilisation, saving an average of $200 per load. By using geofencing to trigger alerts when vehicles enter or leave specific areas, operations are monitored and managed effectively, improving utilisation of assets and avoiding delays. A TMS can optimise the loading process to maximise vehicle capacity, minimise the number of trips required, and reduce costs.
- Telematics devices and IoT sensors collect and transmit data from vehicles and equipment to provide real-time updates about location, speed, fuel consumption, and more. These devices track transportation journeys and help provide key data to monitor shipments and assets. GPS and IoT integrations with a TMS provide real-time visibility into the location and status of vehicles and shipments, improving accountability and enabling better decision-making.
- Advanced analytics: Mining companies can leverage analytics to enhance decision-making across various aspects of their operations. By utilising tools that aggregate data from multiple sources, companies gain valuable insights, optimise processes, and make informed decisions that improve efficiency, reduce costs, enhance safety, and support greater sustainability. Analytics can provide deep insights into the performance of carriers to ensure carriers meet performance metrics, which also helps to identify issues and discover areas of improvement.
The technological innovations transforming the mining industry in 2024 are ushering in a new era of efficiency, safety, and sustainability. By leveraging these technologies, mining companies can overcome their supply chain issues and pave the way for a more productive and environmentally responsible future.
Author: Brian Cupp, Director of Operations, IntelliTrans
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