While the natural resource industry seems to have taken a little while to join the fourth industrial revolution, progress is being made steadily as automation is adopted and implemented. The benefits of automation include payload optimization achieved by computers in a way that could not be replicated by people.
Global mining equipment producer CR Mining is among many that are dedicated to developing more technology for the natural resource industry. The company’s head of product strategy, Kevin Greenwood, explained that the digitization of mining had various benefits. Among them those benefits are the following:
- Improvement in efficiency and productivity based on a deeper understanding of the mining process, valuable data analytics and better sensors.
- The removal of variability, especially around manned equipment and operators, with the growing adoption of automation.
Additionally, the development of sensing devices that report detailed and complex information has also led to more productivity and fewer accidents on site. Greenwood goes further to explain that CR Mining is in the lead with regard to digital transformation because the company is focused on not letting its clients down.
Another key technological innovation is a reporting platform developed with features that are vital for mines. The Orion Data Analytics platform has been designed to provide machine performance and real -ime productivity data to operators at the mining site. The platform then conveys this data to either a tablet or mobile device for mining-site personnel. In addition to this, the platform offers insight on items such as the following:
- Operator performance
- Dig unit duty
- Truck payload performance
- Dig unit productivity
It should be noted that users of the platform can also customize the database and its tools to provide an account of additional factors.
As the mining industry shifts its gears into Industry 4.0, the adoption and implementation of automation will improve many — and perhaps all — mining processes, which will benefit not only mines but also the environment.
Digital innovation in mines reduces the environmental impact that they have on the environment while simultaneously reducing the energy consumed on a site. The elimination of fatalities will also produce safe working environments for mine personnel, which may make it easier to venture into asteroid or deep marine mining.
Furthermore, the use of simulation-based planning in mines will allow mining companies to analyze project operational performance and processes in a virtual setting, which decreases the cost and time spent in prospecting, exploring and other mining operations.
Meanwhile, Colorado-based Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) is dominating the uranium mining segment of the industry. The firm’s production capacity and in-ground resources are greater than those possessed by any other uranium mining company on U.S. soil.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
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