Over the next 5 years, the coal industry is likely to be one of the major beneficiaries with recent examples of new coal projects like Adani Carmichael coal mine, Kevin’s Corner coal project, etc., benefitting from the integration of advanced tech
Even as operational safety and the health of employees assumed focus of miners in the post COVID world, improving efficiency and enhancing production will also be the priority for the mining sector even amidst the pandemic.
Australia’s mining industry is expected to lead the global race to integrate technology to operate in a seamless manner, as per the report of Fitch. Especially, the coal industry is likely to flourish on the back of a strong network, highly skilled labour and government support. The coal industry supported the economy of the country’s second most populous state during the previous year, Adani Mining CEO David Boshoff had stated earlier.
The technological disruption in the mining landscape is going to spur a new revolution, starting from cloud computing to new sensors to drones and so on. The automation or processes coupled with machine learning and artificial intelligence will impact the operations by a long way. The coal industry is likely to be one of the major beneficiaries of this development.
The recent examples of new coal projects like Adani Carmichael coal mine, Kevin’s Corner coal project, among others benefitting from the integration of advanced technology is a testament to the changing dynamics across the mining industry. These projects required great expertise, along with the usage of modern-tech to work their way towards starting the production. Similarly, in the iron ore mining sector, players like Rio Tinto and BHP have been quick to adapt to the technological revolution and benefit from the same in the long run.
According to a report presented by Minerals Council of Australia (MCA), more than 77 per cent of the jobs in the country’s mining sector will be impacted by the technological innovations in the next five years. It will increase productivity by around 23 per cent in the same period. The report is a clear indication of things to come and the significant role of tech-based model in Australia’s mining sector.