The operations studio is aimed at developing a “lighthouse digital plant” to generate enthusiasm for the rest of the company. The Future of Mining. Used correctly, digitalization can create attractive jobs in safe control room environments, which provide space for the employee’s full expertise and creativity. Company results improve when capabilities are built not just on a project basis, but for the long-term. While there’s something … Given that there were dozens of heat exchangers, the cost savings have been substantial. However, a productivity-led transformation of the economy could enable Saudi Arabia to again double its GDP and create as many as six million new Saudi jobs by 2030. For instance, advanced analytics and sensors are helping lower maintenance costs and decrease downtime while boosting output and chemical recovery. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. This has saved millions of dollars’ worth of chemicals and reduced the environmental impact of the tailings. Learn more about cookies, Opens in new
The drivers of this shift towards integrating innovation in mining are many and well known. This has a broad impact on a variety of processes, ranging from road maintenance to how to back into a shovel location. Blog Provides Industrial Engineering Knowledge: Articles, Books, Case Studies, Course …
1 Notes: 1 For a detailed description of the VF journey, see the 2013 Value Creators Report, Unlocking New Sources of Value Creation, BCG report, September 2013. Explore some of the most popular and innovative insights that the McKinsey Global Publishing team brought to you this year. This can mean a productivity boost of 5 to 10 percent, which equates roughly to opening a new mine if applied across a typical mining company’s footprint, without the capital cost. People create and sustain change. Digital upends old models. The company’s revenues have grown from $7 billion in 2008 to more than $11 billion in 2013 (and revenues are projected to top $17 billion by 2017). Something went wrong. The rewards will be far-reaching for companies that commit to it and approach it wisely. Technology-enabled transformation calls for a break from ingrained habits, and a change in mindsets, behaviors, and capabilities. As part of the transformation, the company recognized it needed to overhaul its culture, including a greater level of shop-floor engagement. Digital technology—when implemented with management and mindset changes—is leading to meaningful operational improvements. (See sidebar, “How one company changed its culture and infrastructure.”). What’s more, when we analyzed what lay behind the survey results, we uncovered key factors that are critical to maintaining and improving productivity in hybrid remote/onsite and completely remote settings. Reinvent your business. McKinsey designers highlight the photos and illustrations that helped us tell the visual story of a remarkable year. This may include details such as the torque level for tightening a nut, or instructions for inserting an O-ring. Global mining company Rio Tinto, By any measure, advances in digital technology and the Industrial Internet of Things (IIoT) have transformed the industrial landscape. The current identified impact of the transformation effort is positive to the tune of more than $200 million, the majority coming from operations. In an environment where information is far more accessible than ever before, companies can examine where decisions are made, and by whom, and empower their workers to make informed, data-driven decisions, quickly and safely. One of the most dominant trends we are seeing worldwide is that of technological innovations coming to the fore as companies seek out alternative methods of achieving productive outcomes. Learn more about cookies, Opens in new
This is true also for the mining … It has become increasingly realistic to combine off-the-shelf technologies with in-house solutions to create a system that improves transparency, safety, performance monitoring, and overall equipment effectiveness. 19 A measured and agile approach 19 The time to act is now 22 Where to start 22 References 22 Authors 23 Success for mining companies . Most importantly, teams that work in siloes know only what they know; they are isolated from the data that drives innovation. This understanding has to be reinforced through formal mechanisms, and managers must model new behaviors. Sensors collect real-time data from the waste, and the machine learning model calculates the optimal parameters for recovering (for instance) sodium hydroxide, boosting performance above that which operators were previously able to achieve. They will continue to get better at driving productivity and improving safety. The maturity of specific technologies is also a critical consideration. Overhaul the culture and capabilities to achieve a more. One of the biggest logistical challenges mines face is communicating with workers and coordinating operations, especially underground where radio does not work. In a production environment, groups of three or more autonomous bulldozers are now able to coordinate overburden removal. The paper identified some potentially game-changing innovations that we believed would revolutionize the way mines operate and deliver much-needed productivity gains. hereLearn more about cookies, Opens in new
Innovation is a driving force behind business improvement and increased productivity. Du ring the super cycle, productivity fell to its lowest rate in more than … These trucks drive themselves between loading and dumping. Of course, harnessing technology also means training employees and hiring new staff with advanced skillsets to fill a variety of new roles. This eliminates the need to provide a set of instructions that have to be carried out across an entire shift, and lets supervisors react and adapt to changing conditions, allowing an underground mine to function like a modern, sophisticated open-pit operation. Mining is now 28 per cent less productive than it was a decade ago, with Australia … For one mining company, autonomous haulage system trucks have yielded a 20 percent productivity increase. Her hobby enabled her to design a high-quality user interface for use in a processing plant. Lay of the land. ⁴ “Behind the mining productivity upswing: Technology-enabled transformation,” September 2018, McKinsey.com. Productivity across the global mining sector is starting to improve.