SURVEY: Safety is Top Priority for European Technology Investments
A recent survey conducted by Timetric’s Mining Intelligence Center (MIC) revealed safety is the top priority for European technology investments, more so than cost cutting and production boosts.
The survey included over 100 senior managers and decision makers at mines across 23 European and former Soviet Union states to compare regional and sector technology trends.
Respondents were asked to outline their current and future intentions for technology investments across 12 areas: mine design, mine survey equipment, scheduling and optimization, equipment health monitoring and machine automation.
The findings show safety is the leading driver of technology investments, followed by cost reduction and productivity improvements.
The survey also outlined the primary technologies in which respondents plan to increase investment, which includes: mine management software for scheduling or optimization, mine survey equipment, monitoring equipment for pre-emptive maintenance, mine design and modeling software.
Survey respondents were also asked their opinions on the key drivers of these investments and any potential investment in autonomous vehicles they were considering in the future.
For the 11 of the 12 areas, a minimum of 50 percent said they already had these technologies in place at their sites, including all mine-management-type tools.
Over 30 percent of respondents are currently using autonomous vehicles; 44 percent indicated no plans to implement autonomous vehicles in the foreseeable future.
Countries of survey respondents included: Albania, Armenia, Belgium, Bosnia, Cyprus, Finland, France, Germany, Greece, Ireland, Kazakhstan, Macedonia, Norway, Poland, Portugal, Romania, Russia, Slovakia, Spain, Sweden, Turkey, Ukraine and the United Kingdom.
Axora launches global challenge for digital technology
Axora is launching the world’s first international competition to discover new cost-saving digital technology for industrial companies, which can produce rapid benefits within a year.
The Metals & Mining and Oil & Gas sectors have recently experienced budget cuts of 20% on average, driven by a variety of factors including the global pandemic, slump in demand and price wars. The Axora Cost-Saving Technology Challenge aims to transform these industries by discovering innovative, digital solutions that reduce cost fast and pay for themselves, whilst achieving the same or improved productivity, health and safety and sustainability standards.
“While digital solutions can help to get work done quicker and more cost-effectively, they typically require a three-year ROI, and if there’s no flexibility in the budget, a full budget planning cycle is needed to get things moving”, said Dr. Nick Mayhew, Chief Commercial Officer, Axora.
“Yet, extra financial cost is often incurred in delaying digital projects, so customers have asked us to highlight solutions that can have an ‘in year payback’ whereby the cost spent on the solution and deployment will be more than recovered within the budget year - this accelerates the timeline and drives positive business impact, quickly.”
The Axora Cost-Saving Technology Challenge
Axora is keen to learn of any digital cost-saving innovation which: meets the 12-month payback timeframe; can be deployed in any part of the value chain including upstream, downstream or midstream oil and gas, metals processing or mining; and is ready for market. The Axora Cost-Saving Technology Challenge is open to entrepreneurs, start-ups, academics and sector leaders across the world. The competition will be judged by a panel of leading industry experts.
“We’re passionate about supporting our industries and customers through all forms of digital transformation and the cost-saving solutions we are searching for could also provide a lifeline to many mining and metals and oil and gas companies in the current economic climate,” added Dr. Mayhew.
Improving productivity, safety and sustainability
Up to ten finalists will be chosen to pitch their solutions at a digital pitch day later this year, after which Axora will validate the ROI models and vet the solutions. The winner will receive the ‘Axora Market Accelerator’ sales and marketing package worth £10,000. This includes a two-hour workshop, promotion through Axora’s thought leadership content and inclusion into its digital demand engines, providing the opportunity for the winning solution to benefit thousands of industrial companies. Entries are open until May 31. Full details of the competition including terms and conditions can be found here.
To learn more about the Axora B2B digital solutions marketplace read our feature in the latest issue of Mining Global magazine.