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How can the mining industry benefit from the boons of IoT?

We all know that the global population is continuously expanding and growing by every passing day but what most of us fail to acknowledge is that this increasing population is having its impact on the mining industry and pressurizing it. Current estimates show that around 3.11 million pounds of metals, minerals and fuel are needed by a single person throughout their lifetime. Market experts estimate that throughout the next decade the IoT will be extensively used in the trade. The concept of sensors generating a large amount of raw data which can be used in the real-time analysis for translating them into profitable actions for the operators of the equipment.

 

Why use IoT in the mining industry?

If we could summarize all the reasons for using IoT in the mining sector I could come up with two basic reasons, firstly for improving the performance levels and boosting the productivity by eliminating the degree of wastes and hence eliminating unwanted costs. Secondly for the ability to anticipate any impending machine failure. Today lots of plants and factories are shielding their machinery with cheaper, smaller and smarter IoT sensors which can be technically termed as the Industrial Internet of Things. Using the IoT, miners have experienced a lot of significant benefits in the mining industry which are stated below.

 

The benefits of IoT on mining

1. Saves time

IoT can be of immense help while developing and hence maintaining a mine site. Before any initial digging data collection takes place. This ensures proper management of the process thereby reducing the risk factor. Many mining companies are currently using unmanned vehicles and running experiments regarding Autonomous Drilling systems which can drill without any human aid. These autonomous systems can operate throughout the day and make the product extraction process a lot faster.

2. Improved safety

The mining industry is never devoid of any prominent danger even though certain technological marvels has managed to eliminate a large number of threats. IoT can help in the prevention of unstable shaft collapse by using the sensors to catch data in real time and then by predicting any faulty equipment or areas where any issues might crop up. This allows us to make the necessary adjustments in order to avoid the danger on the whole.

3. Mining advances

IoT allows the standalone products such as equipment and vehicles to collaborate and work together thereby improving the rates of accuracy. Mining companies can now find out updated innovations and technological development which can help them to stay at the top of the market. These make the overall task of mining a lot easier and productive.

4. Predictive maintenance

IoT provides an integrated network to the miners using which they can monitor each and every aspect of a mining operation easily. This leads to greater levels of safety and production. Detecting any possible wear and tear on the vital equipment pieces allows projection of maintenance and repair times beforehand.

5. Saves energy and costs

If we sum up all the above points we concur that IoT investments reduce the expense of energy and maintenance costs involved in the mining industry to a large extent.

 



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