Mining and minerals solutions
The approaching wave of technological changes to our industry promises to be faster and more disruptive as mining companies seek new performance levels for efficiency and mineral recovery. Mining companies across the globe are under pressure from capital markets to provide returns that can compete with industries in very different investment groupings. As automation and big data enter the arena, corporations are competing to leverage these approaches for greater return on investment.
Automation has brought us 3D, 4D and 5D processes, bringing current planning and future scheduling into the industry with the further possibility to work in parallel across continents. The next wave of digital innovation will not replace these technologies or specialists – it will integrate them. For decades, we have been automating workfaces: in nuclear, automobile manufacturing, oil and gas, and of course mining. Global equipment and control systems manufacturers are supplying modular components that are easier to add to overall control systems, and as automation spreads across workfaces, a need has become apparent: the role of the main automation contractor (MAC). Wood differentiates itself from other EPC/M service providers in the mining industry by bringing automation systems and advanced asset management into projects at an early stage as a uniquely experienced MAC.
Wood’s mining and minerals solutions previously supported mining operations and mineral processing. Innovation from automation and control along with our broader capability across maintenance, operations and environmental services now makes it possible for us to offer deeper support on the drive to the future mine. As our expertise grows, a further horizontal integration of our services means greater savings and increased earnings for our mining customers.
Customers can draw on this to implement intelligent operations that optimise production, reduce costs, increase efficiency and improve safety. Digital technologies will help transform and optimise core processes, manage maintenance to reduce downtime, improve administrative support processes and enable more informed decision-making.
The next step is to make more efficient use of these systems, as well as the data they provide, to drive tangible improvements in the performance of the processes, while taking advantage of the total value of the data and previously undetectable correlations within. Data points under the traditional magnifying glass may have no relation, however, when advanced data analytics techniques are applied, process modifications are detectable and can be implemented to improve performance.
The ability to act on the data, applying advanced algorithms and automation to translate decision and actions from the digital world into movements in the physical world helps deliver measurable value.
In Chile, we are helping the country’s leading private mining group go digital with the preparation of studies for a technologically-advanced integrated operations centre, including cloud data storage and information management for its operations, easily accessible from anywhere in the world. The new operations center will improve the management, productivity and efficiency of the mining process, providing a modern operation that is able to centrally store, access and manage large volumes of data.
According to a recent paper from the World Economic Forum and Accenture, digitisation could bring more than $425 billion of value for the mining industry, customers, society and environment by 2025.
Insights from data analysis can be used to reduce capital expenditures, respond to changing project requirements on the fly and optimise mine planning to integrate real time changes.
The technologies to make the digital mine a reality are within reach. To thrive in the future, the conversation between mining companies and their EPC/M providers must move to a more collaborative footing. At Wood, we apply the latest digital techniques to deliver smarter, faster and more cost-effective mining projects. The exciting challenge for tomorrow is how to design, build, integrate and embed systems that will future-proof the next generation of mining.