Mining Tech

Augmenting the mining value chain with technology and automation

Overview

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.

The Disruptors


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Industry scope 

This industry focuses on companies that offer:
  1. Platforms that leverage technologies such as AI/ML and LiDAR to support and enhance the success rate of exploring and discovering new mining targets.
  2. Solutions that use data from IoT sensors, site logs, and other data points to provide insights, simulations, and 3D representations of a mining site.
  3. Platforms that use AI/ML and other approaches to provide insights, support predictive maintenance, and help to optimize 1) worker productivity, 2) fleet utilization, and 3) other site resources, such as raw material inventory.
  4. Solutions to retrofit site vehicles with autonomous hardware alongside other autonomous and remote-controlled tools and mining-related IoT devices such as sensors.
However, we exclude the following areas when selecting companies for this industry:
  1. Mining companies, whose only principal business activity is to explore and mine precious and non-precious materials.
  2. Both traditional (covered under Logistics and Supply Chain Tech) and blockchain-based supply chain management solutions (covered under Enterprise Blockchain Solutions).
  3. Platforms support the management of various on-site jobs and functions, along with features for task allocation, collaboration, document management, and job-site management for construction projects (covered under Construction Tech).
Currently, we do not actively cover this industry, but we have identified it as a potential industry to cover. For the list of industries in our coverage, please visit https://sp-edge.com/industries
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