EPISODE 12
Disruption and the DIGITAL MINE
Duration - 28 mins
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Disruption is the result of applying a series of changes in a system that creates a whole new way of doing things. And more importantly, often results in whole new business models. There are no shortage of industries that have gone down this path. Think about music. Previously you owned the music you wanted to listen to. Now you stream it. Access trumps ownership.
So what would #disruption look like in mining? Well it will probably start with digitalisation. Look around you...a lot of what you do currently could easily be digitalised. Extend this concept further...a lot of the process of mining could be digitalised. We cannot change a mineral deposit. But in a world ripe with sensors, we can change the information we collect about it. And give us a chance to make better decisions on what to do next. The eventual consequence of all of this thinking: is a digital mine. This is a fundamentally different way to look at mining. But its not the real disruption we will face. That will come in the form of completely new business models that we will have to deal with.
The US Marines have a saying..."Everyone wants to get into heaven. But no one wants to die." Is this a metaphor for how mining treats new business models?
So what would #disruption look like in mining? Well it will probably start with digitalisation. Look around you...a lot of what you do currently could easily be digitalised. Extend this concept further...a lot of the process of mining could be digitalised. We cannot change a mineral deposit. But in a world ripe with sensors, we can change the information we collect about it. And give us a chance to make better decisions on what to do next. The eventual consequence of all of this thinking: is a digital mine. This is a fundamentally different way to look at mining. But its not the real disruption we will face. That will come in the form of completely new business models that we will have to deal with.
The US Marines have a saying..."Everyone wants to get into heaven. But no one wants to die." Is this a metaphor for how mining treats new business models?
On this episode, Gavin Yeates joins us to talk about disruption in the mining industry and his concept of the Digital Mine.