The digital modernization of South African mines is a significant shift towards the Fourth Industrial Revolution with mining companies creating value and envisioning the future of work as they mature digitally. According to a 2023survey, 100% of mining CEOs in South Africa are now committed to transitioning to digital technologies, including the integration of these technologies into their Environmental, Social, and Governance programs.
Many of South Africa’s conventional mines are old, complicating the hunt for value in digital modernization. Legacy systems aren’t easily retrofitted, making efforts costly and challenging ROI calculations. If the lifespan of a mine is short, less than seven years, digitalization and achieving ROI is almost impossible in this already labour- and capital-intensive industry., digitalization is nevertheless proceeding across the value chain – from finding and mining through processing and trading.
Digitization’s potential to enhance decision-making cannot be understated. Real-time data allows for the swift identification and rectification of operational inefficiencies, leading to cost savings and increased production rates. Mine operators can use predictive analytics to anticipate equipment failures before they occur, reducing downtime and maintenance costs.
Safety is of course a key issue in the MMM sector, and digitization offers remarkable tools to protect workers. Technologies such as wearables that alert systems to hazardous conditions can significantly reduce workplace accidents. Labour unions, integral stakeholders in the industry, haveESG regulatory pressures and the drive to NET ZERO are increasing in the MMM industry, with global leaders looking to implement digitization initiatives.
Effective governance is key to steering these initiatives in the right direction. This includes maintaining a progressive vision and ensuring seamless coordination across all levels of the organization. To clear the path, companies need to work towards convergence of IT/OT systems and data, clarifying roles, fostering a shared vision, and encouraging a culture receptive to change.
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Source: ITOnlineSA - 🏆 16. / 63 Read more »
Source: ITOnlineSA - 🏆 16. / 63 Read more »