May 23, 2017

Innovative digital & technical solutions crucial for survival of mining sector

By Gary Watson

During a recent presentation given at the Gordon Institute of Business Science (GIBS), Exxaro Mining Group CEO, Mxolisi Mgojo, explained why forward-thinking digital and technological solutions are needed for the mining industry’s existence, the Engineering News reported. According to the publication, Exxaro is developing a digital mine of the future with the Internet of Things as its platform and a business model aimed at generating money while alleviating water, food and energy security issues in the country.

“If we’re going to understand the future, we’ve actually got to step into the future,” Mgojo said. Companies should no longer be afraid of technological trends or shy away from amending business models with futuristic business models, he said, because it won’t cut it at the fast pace the world is moving today.

The Digital and Technology Revolution

The future asks of businesses to reduce costs, boost efficiency and maximise product output. And the way to achieve this is through implementing innovative digital technology.

The digital and technology revolution has been prevalent for quite some time thanks to the Internet of Things (IoT). However, since the beginning of the year the IoT evolved even more as a result of a merging of numerous technologies including ubiquitous wireless communication, real-time analytics, machine learning, commodity sensors, and embedded systems.

With the ever changing and developing technology on the market and the power of Digital Technology at our fingertips, not all companies have the right partner to guide them through the implementation of the technical requirements they need.

Gary Watson, the writer of this article is a specialist Engineer at AGE Technologies, he can be reached through the following email address: gary@age.co.za 

 

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