iconiconiconiconiconiconiconiconiconiconlegacy_arrow-link-previouslegacy_arrow-linklegacy_closesocial_facebooksocial_googleplussocial_linkedinsocial_redditsocial_twittersocial_youtubeiconiconiconicon
03.15.2017

Time to Invest: Deloitte’s Tracking the Trends 2017 Report Talks Industry Optimism and Long-Term Strategy

Share:
Related topics: Articles · ASI

Rethinking strategies to unlock productivity and improve sustainability is at the top of the list for companies in the mining industry. But challenges in rolling out substantive changes serve as one of the greatest hurdles for miners in 2017.

"As mines embrace digital, their core processes will become fully integrated, autonomous, remote and automated—capabilities made possible by a network of low cost, highly capable sensors that use internet of things (IoT) technologies."

The 2017 edition of Deloitte’s Tracking the Trends details how mining professionals are creating successful strategies for today’s ever-changing market conditions. For the second consecutive year, one of Deloitte’s top strategies is to invest in digital innovation.

“There are countless innovative ideas to improve productivity. Despite this, many mining companies are coming to realize that true innovation cannot be achieved by implementing isolated technology solutions.

Research by Deloitte's innovation practice shows that organizations considered successful serial innovators tend to approach innovation as an enterprise-wide differentiator, exhibiting capabilities across four building blocks: they employ a tailored approach to innovation; they structure the organization to house the innovation competency; they acquire and nurture the appropriate resources and skills; and they develop metrics and incentives to guide their performance.”

"Without an incremental, multi-phase approach to implementing new technology, the cost and unfamiliarity can stymy innovative solutions like autonomy."

Deloitte recognizes that without an incremental, multi-phase approach to implementing new technology, the cost and unfamiliarity can stymy innovative solutions like autonomy.

“The mining sector has been engaging in various forms of innovation for years. Driverless trucks and other forms of automation allow miners to set up remote operations, enhancing safety and efficiency. The use of sensors to monitor a wide range of factors—from tire pressure and road conditions to both equipment and labor performance—enables the collection of highly valuable data points. When parsed through advanced analytics, that data yields insight that can help companies reduce cost, streamline equipment maintenance, and prevent safety incidents.”

“As mines embrace digital, their core processes will become fully integrated, autonomous, remote and automated—capabilities made possible by a network of low cost, highly capable sensors that use internet of things (IoT) technologies. These digital mines will fully digitize engineering and asset information and integrate it with location-aware mobile devices to support an efficient and collaborative workforce.”




The mining industry continues to reinvent the future. The mood of cautious optimism in mining precipitates careful investment in the future. Companies face key choices about where and how to invest in 2017 – read the rest of Deloitte’s Tracking the Trends 2017 to learn about the other strategies being adopted this year.