The Centre’s new regime, in which mines are auctioned under a revenue-sharing model, has come as a wind of change for the sector. If mines are stored after high premiums are quoted, industry players need to push digitization to optimize basic processes and reduce costs if they are to ensure a return on investment. Zero pillaring and proper distribution and end-use through digitization become necessary to increase revenue and protect the bottom line.
Mining companies such as Coal India, Tata Steel Mining, JSW Steel, Hindustan Zinc, and NMDC, among others, are aggressively analyzing digital automation to achieve greater operational efficiency and higher economies of scale and to keep pace with newly formulated dynamics of the mining market, Says Ranjan Nayak, Chief Operating Officer, JSW, Orissa Mining Company, “The bidding mechanism provided excellent opportunities to invest and create digital infrastructure in the mining sector. We estimate that mining automation would be worth $ 4.6 billion by 2024. ”
It set an ambitious target to increase production from the seven MTs by 100 MT – they had produced 186 MT in fiscal year 21, representing 32% of CIL’s total output of 596 MT in that budget.
CIL CMD Pramod Agrawal said, “although Coal India is implementing a wide range of software programs, this is the first attempt to fully address a wide range of issues in mining operations and management, to increase coal production.
Accenture Solutions expects to meet the expectation by FY23 results. Its digital programs will improve planning, project monitoring, operations, and delivery, with the world’s most advanced equipment equipped with digital machines to accurately monitor all conditions in all conditions, it said. by one of the informants to the company.
Working together on the same lines, Tata Steel Mining, a Tata Steel company, models mining operations and their value with several statistics, constant quality monitoring, data processing. and market knowledge. “Digital automation is focused on saving about $ 1 billion,” said its MD MC Thomas.
Sumit Deb, CMD of NMDC, hopes to ensure cost savings as it helps lower the carbon footprint of the vital mine. The integration of line sensors, visual inspection, automated testing systems, and visual conveyor belts with operators is critical to processes and costs across the critical minefield, he said.
The need for numbering has made Bharat Earth Movers (BEML) manufacturers work on mechanical devices such as the Predictive Maintenance System (PMS) that can prevent sudden breakdowns. The AI-capable Water Sprinkler (WS) was another product that came up with for better mining efficiency.
His CMD MV Rajasekhar said, “Systems like PMS, AFMS, and AI-enabled WS are all innovations by 2021. These will go a long way in ensuring operations and costs. , and assist with the Miner’s finances ”.