Iot To Facilitate Decision Making In The Lead Mining Industry

The implementation of IoT in lead mining industry is improving decision making efficiencies and helps in reduction of production costs. IoT enables the sensors to identify faulty equipment pick...

The implementation of IoT in lead mining industry is improving decision making efficiencies and helps in reduction of production costs. IoT enables the sensors to identify faulty equipment pick up real time data, analyze the data, facilitate equipment communication and derive insights from the data generated. The mining equipment is monitored on real time basis and a report is projected on when the repairs or maintenance is required, if there is fully integrated network. In the near future, IoT is expected to become the standard in mining industry. According to the report published by Deloitte, globally, 69% of the mining companies are looking at remote monitoring and 29% at unmanned drones to improve their operations monitoring and productivity.

THE BUSINESS RESEARCH COMPANY VALUED THE LEAD MINING MARKET AT $18 BILLION IN 2017

Asia Pacific was the largest region in the lead mining market in 2017, accounting for more than half of the global market.

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The chart below shows the year-on-year growth of the global lead mining market during 2017 – 2021

According to The Business Research Company’s Consultant, Nitin Gianchandani, the use of autonomous hauling systems trucks in the mining industry is significantly enhancing production efficiency and reducing turnaround time. Autonomous haulage systems control and track mining vehicle movements, coordinates and autonomously drives off-highway haul trucks operating in a mine. This system increases efficiency by minimizing delays, reducing operating costs and reducing fuel consumption, thereby minimizing carbon emissions. For example, RioTinto has already implemented AHS in their mines and has reported 13% reduction in load and haul operating costs from the automated fleet.

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Anglo American Plc. was the largest competitor in the market, generating revenues of $3.5 billion in the year 2017. Anglo American Plc.’s growth strategy is to achieve cost and productivity improvements and to seek partners for major Greenfield projects. The company wishes to focus on only one major project at a time.

The lead ore mining market includes companies developing mine sites, mining and preparing lead ores including smithsonite mining, sphalerite mining, willemite mining, calamine mining, cerrusite mining, galena mining, lead ore mining, and lead-zinc ore mining.

Lead Mining Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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