Industrial Internet of Things could increase mining revenues by an average of $154 million

By Dale Benton
A new report has revealed that Industrial IoT could boost mining revenues by more than $100 million. Inmarsat, a leading provider of global mobile sat...

A new report has revealed that Industrial IoT could boost mining revenues by more than $100 million.

Inmarsat, a leading provider of global mobile satellite communications services, has launched a recent study into the impact of the Internet of Things (IoT) could have on the mining industry.

In the report, it has been revealed that Industrial Internet of Things (IIoT) could increase mine company revenues by around 10% over the next five years.

The report, the 2018 edition of Inmarsat’s research programme into IIoT trends – ‘IIoT on Land and at Sea’ – for which market research specialist Vanson Bourne surveyed 750 businesses with a combined turnover of $1.16trillion from across the globe. Respondents were drawn from a wide range of industries, including the agriculture, energy, maritime, mining and transport sectors.
 

Related stories:

Mining and IoT: Recognising cyber security to extract true value

IoT and data analytics: the mining of tomorrow

70% of mining Mining businesses say IoT essential to gaining a competitive edge

 

Paul Gudonis, President, Inmarsat Enterprise, said: “IIoT is emerging as a major force in the modern enterprise and it’s clear that businesses are prioritising satellite technology to transform their operations and achieve competitive advantage. Data generated by IIoT infrastructure is expected particularly to bring greater transparency to the global supply chain, allowing businesses to automate processes, reduce operational waste and speed up rate of production, leading to higher revenues and lower costs”.

Read our exclusive interview with Joe Carr, Director of Mining at Inmarsat Enterprise.

“However, many businesses are struggling with security, skills and connectivity challenges in large scale IIoT deployments.  Over half (56 per cent) require additional cyber-security skills and 34 per cent don’t yet have access to the connectivity they need. For global businesses that require a global communications network, satellite connectivity will play a key role, guaranteeing constant secure data transmission wherever their IIoT infrastructure is located,” he concluded.

Share

Featured Articles

Laws Thwart US Bid to Match China on Lithium Mining

US bid to increase domestic production of lithium in order to reduce reliance on Chinese supplies of critical mineral frustrated by 'confusing' state laws

Bain: 'Inflation Dampening Mining Leaders' Net Zero Hopes'

Bain & Company’s annual Energy & Natural Resource Executive Survey shows 62% of energy execs say high costs mean net zero goals won't be met by 2060

Focus on: Lithium – ‘White Gold’ Driving the EV Revolution

Because of the move to electric vehicles, the metal lithium is rapidly becoming a vitally important part of world’s bid to move away from fossil fuels

Aluminium Industry Calls for new North America Body

Supply Chain & Operations

Data-Driven ABB Smart Hoisting Solution 'is Safety Boon'

Digital Mining

Deep Sea EV Metals Mining Firm in Greenpeace Clash

Sustainability