TECHNOLOGY
even only partially , as they have gradually moved from reactive to planned to proactive maintenance and then predictive maintenance . It has become much more accessible because of the falling cost of sensors , improved computing power and bandwidth , and general technological advancements . Avoiding machine failures can save hundreds of thousands of dollars a year .
There is a lot of talk about AI , how are mines adopting that technology , and what benefits can it bring ? There are a wide range of benefits to investing in autonomous equipment , which is an example of how AI is being employed . Figures from OEMs and mining companies include 15-30 % improvements in productivity , 80 % reduction in accidents , 15-25 % reduction in operating costs and 15 % increase in machine life .
Technology can be a great leveller , do you see smaller mines being able to close the gap on larger majors in terms of efficiency that they currently struggle to do ? Yes , certainly . When we first began surveying mines in 2018 , across the various technologies we asked about , on average non-majors had not invested 51 % of the time . By 2023 this had fallen to 35 %. In contrast , for majors it has fallen from 35 % to 26 % – so majors are still investing more of the time , but the non-majors are improving well . Looking at where mines stated they had either ‘’ fully invested ’’ or made ‘’ considerable investment ’’, the average share across all technologies has increased for non-majors from 15 % to 33 % between 2018 and 2023 . For majors it has risen from 29 % to 42 %, principally helped by the declining costs and faster return on investment .
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