The mining industry is the starting point in the value chain of many metals and minerals (coal, lithium, etc.) used in daily life. The sector is highly capital intensive, has often been slow to adopt new technologies and is seeing challenges with respect to low likelihoods of finding viable mining prospects and declining site productivity.
Mining Tech refers to technological solutions that complement the mining process and aim to improve efficiency and sustainability through improved utilization of site resources and low wastage. In a bid to improve the success rates of identifying viable mining prospects, startups are leveraging technology such as AI/ML and LiDAR sensors to augment exploration and discovery. In addition, other platforms are also offering tools to run site simulations and 3D models, to optimize physical and human resources in the mining site, and to deploy autonomous solutions that will help to improve the efficiency and sustainability of the mining operation.
Note: Additional sections (such as market sizing, detailed overview, and incumbents) can be provided on request.