Tag: mining

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Impact of Digital Innovation in the Mining Industry

Mining used to bring fortunes in the past. Not that the scenario has changed now, but the industry as a whole is under pressure due to falling commodity prices and existing mines reaching maturity. Additionally, many reports also state that mining industry is far less productive than it used to be a few years back. Although players in the mining industry are focusing to boost productivity by squeezing the maximum out of the available asset, it’s not a viable long-term solution. It’s not all dark and hazy for the mining industry though, digital and technological innovations Request Proposalare transforming key aspects of mining.

Productivity improvement

Over the past couple of decades, the mining industry has been experiencing a slight decline. The trend can be observed across commodities, geographies, and most mining companies. Although the decline is evident, the performance in this industry is also somewhat lackluster. As a result, most mining companies have trimmed expansion plans and refocused on increasing their operational efficiency. Digital innovation has assisted the mining industry to recover their productivity across the world. The improvement can be evident when compared to other industries such as upstream oil and gas, oil refining, and steel industry. Coordination of activities and smart planning are required to mitigate the uncertainty caused by external forces. Mining productivity can be improved by reducing errors and eliminating the variability wherever possible.

Nature of talent

As digital technologies continue to influence the industries worldwide, companies need to recruit a specialized workforce to operate autonomous machines and turn a mountain of data into valuable insights. As a result, the industry is no longer competing for traditionally skilled workers. They need young talent who is sharp in digital technologies with deep industry knowledge and the ability to improve productivity.

Employment dynamics

The future is now. Automation has been looming around for a long time but coupled with artificial intelligence, a significant number of manual jobs might be displaced. Such situation will impact a lot of local communities which is dependent on employment and also raises concerns about company’s CSR. On the hindsight, automation also paves way for new roles to be created and new job position to be filled. The demand for skilled labor well-versed with automation and digital innovation will be in high demand.

Optimization of equipment and material flow

Mining supply chain is a complicated affair which comprises of interdependent systems of fixed and mobile equipment. Executives in the mining industry have been using tools and metrics such as OEE to gauge operational improvements but fail to grasp the system complexity. Digital innovation has facilitated the scheduling and processing decision-making process by combining real-time data with advanced analytics. For instance, in the mine pit, using smart algorithms can optimize machine movements for maximum efficiency. Additionally, it can also look for hidden relationships between second and third order variables which boosts the plant yield of gold, phosphate, nickel, and other processed minerals.

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Big Trends That Will Turn the Mining Industry into A Gold Mine of Opportunities

It is no secret that the mining industry has been battling a host of issues such as volatility in the commodity prices, labor and employment struggles, safety challenges, lack of financing, etc. Despite these dilemmas, the mining industry is one of the most promising industries that is sitting on a goldmine of opportunities. Wonder IR_Brochurewhat are the budding trends that will help the mining industry to extract huge benefits in the future?

Digging the Pathway To ‘Open Pit Mining’

Underground mining saw a dominating trend during the 20th century in the mining industry. However the past decade has witnessed a significant shift towards open pit mining. This surface mining method is different from the older extracting methods as it does not require tunneling and the minerals are extracted through an open pit. Such advanced technology has made it possible to mine ores of declining grades and more complex mineralogy without any hike in costs.

Switch Over to Renewable and Innovative Energy

Several commercial industries, including the mining industry, are emphasizing on applying new technologies and methods to their processes to reduce energy consumption and cultivate renewable energy sources. Apart from environmental benefits, switching over to renewable energy also benefits companies through significant cost savings. The stakeholders in the mining industry are also focusing on techniques such as driving towards more automated mine processes and deploying innovative energy technologies to optimize energy consumption.

The Digital Revolution

More and more players in the mining industry are constantly exploring the new doors of opportunities that digitization can open for simplifying their routine operations. Mining operators are now outlining digital strategies and fostering the right skills and capabilities to embrace digitalization in mining operations. The mining industry is also employing several new and innovative technologies into their operations such as data collection and sharing via cloud-based networks, machine learning to reduce labor cost, wearable technologies, genomic mining solutions such as the use of bacteria capable of extracting minerals, hybrid airships to haul mining equipment to remote regions that lack accessible roads etc.

Building A Shared Vision for The Sector

The relationship between mining companies and governments have been difficult in most parts of the world. One of the main reasons for this misunderstanding is the fact that governments are trying to balance their desire to attract more investments in mining and at the same time trying to support local, social and economic development, which often turns out to be a costly affair. The key to enhancing cooperation with the government, mining companies, and other key stakeholders can be possible through effective engagement and productive dialogue.

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Competitive Intelligence Study Helps a Renowned Mining Truck Service Provider Benchmark Their Service Offerings

In recent years, the mining industry has started witnessing unprecedented challenges in terms of harsh climates, rising energy costs, and water scarcity, which has subsequently affected the growth prospects of the mining vehicles service providers.IR_Brochure As a result, leading mining truck service providers in the industry have started looking for alternative solutions to retain their economic stand in the market space. Thus, to stay relevant in today’s competitive market space, organizations are planning to leverage competitive intelligence solutions to understand the competitor’s offering and target the niche target segments. In the mining sector, competitive intelligence studies help businesses understand the key trends, the potential opportunities in the mining truck service industry and benchmark their services with that of the competitors.

With the recent growth of the mining sector, businesses have started approaching Infiniti Research to carry out an effective competitive intelligence study. With years of expertise in offering a plethora of services, Infiniti’s competitive intelligence engagement helps clients to carry out a robust SWOT analysis of the current market landscape and devise effective strategies to allocate resources; thereby, improving the ROI effectively.

The Business Challenge

A renowned mining truck service provider with a considerable number of offices across the globe was facing predicaments understanding their competitors and benchmarking their service offerings. The client wanted to understand the current market landscape in terms of the potential competitors and the compliance issues prevailing in the market. Furthermore, the client wanted to understand the primary growth factors affecting the growth of mining truck service market and make informed business decisions. The client further wanted to understand the costs related to the services provided and understand the demand-supply landscape in the mining truck service market.

Our Approach

To effectively bridge the demand-supply gap, the client approached Infiniti’s competitive intelligence analysts. Infiniti’s team of experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in the mining industry. Also, the client further compiled information from various proprietary sources such as paid industry databases, company presentations, and newsletters in the mining space to stay updated about the competitor’s offerings in the mining industry.

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Competitive Intelligence Solution Benefits:

  • Effectively gathered and analyzed information to make better and informed decisions
  • Carried out a robust SWOT analysis to identify the company’s position with that of the competitors
  • Understood the competitive landscape in terms of their service offerings
  • Analyzed the market and predicted the future market technologies
  • Efficiently collected high quality and actionable data and fostered effective business strategy
  • Understood the target audiences and designed an effective market plan

Benefits of Our Integrated Approach

With the help of the competitive intelligence study, the client was able to understand the competitor’s selling points and revamp their existing sales approach. Also, the competitive intelligence study helped the client understand the strengths and weaknesses of the competitors and find effective ways to bid for a lucrative contract in the mining truck service space.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the mining industry.

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Market Analysis Engagement Helps a Global Mining Company Improve Market Shares

The recent years have witnessed a downfall in mining activities, owing to weak commodity prices, declining grades, and a fall in the demand from China. The presence of such challenges in the mining industry is increasing the need for devising an effective market analysis strategy. Market analysis engagement involves the study of the market in terms of its strength, weaknesses, opportunities, and threats.IR_Brochure In the case of the mining sector, market analysis engagement helps the client formulate an effective market expansion strategy by taking into account the drawbacks. The robust process included in the market strategy comprise of creating a good labor force, ample investments, and good advertising. In addition, external factors such as economic factors, political instabilities, and even social changes can assist the marketers to identify the potential market challenges and take informed decisions for effective market expansion.

To help businesses gain more insights on the mining landscape, Infiniti’s market analysis solutions shed light on the effective market strategies that help in boosting the supplier’s growth. Our solutions also focus on identifying the potential drivers and trends in the market and gain actionable insights to sustain the growth of the market over the years.

The Business Challenge

A multinational mining company was facing challenges in meeting their operational targets. The client wanted to improve the efficiency of their operations and meet their respective targets within the stipulated deadline. The client was also facing challenges in terms of regulatory mandates, tax burdens, and stakeholder expectations in the market. The client approached Infiniti to assist them in delivering and sustaining targeted operational improvements and meet their targets.

Our Research Methodology

To gain strategic insights into the mining landscape, Infiniti’s market analysis experts followed a blended research approach comprising of interviews and discussion with leading market stakeholders. The experts also carried out ongoing training and coaching for stakeholders on the end-to-end project lifecycle. As a part of the secondary research, the experts also collated information across proprietary secondary sources such as news aggregators, industry forums, and company presentations.

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Our Market Analysis Solution Helped the Client

  • Develop a pipeline management tool to enable the client to prioritize potential future projects
  • Assess the project performance on a monthly basis
  • Gained a clear visibility on the market landscape
  • Facilitated day-to-day business improvement activities to help sustain project objectives

Benefits of Our Integrated Approach

In just 12 weeks, the client was better equipped to make informed decisions on project selection. The engagement also helped the client control additional costs, heighten efficiency, and improve safety performance. The engagement further assisted the client in strengthening portfolio management, link value to price, and integrate production and trading operations.

A must-read market analysis case study for strategy experts and decision makers looking to assess the market landscape for the mining industry.

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Market Intelligence Study Helps a Power Management Client Identify Key Competitors

Over the years, fleet management has witnessed unprecedented changes due to the increased demand from the logistics and transportation sector. From not only being merely confined to transportation, fleet management involves managing all aspects of a vehicle such as positioning and material monitoring, production monitoring, and equipment assignment and optimization. Owing to its extensive reach, fleet management finds extensive application across industries such as oil and gas, mining, construction, logistics, retail, utilities,capture public transport, government, and waste management. Rise in fuel costs, increase in pollution levels, connectivity costs, and the demand for operational efficiency are some of the factors sustaining the adoption of fleet management solutions. Although the market is witnessing exponential growth, it is subjected to several challenges, greater compliance standards, lesser flexibility, and limited transparency. With years of expertise in carrying out various market intelligence studies, Infiniti’s industry experts offer strategic insights into the market space for fleet management in terms of the market scenario, competitors, and penetration levels among the target regions.

The Business Challenge

A multinational power management company was facing challenges understanding the market landscape in terms of the fleet usage, repair and replacement, and purchase patterns of automotive fleet leasing and management across the target regions (South Africa, Russia, Poland, Turkey, Saudi Arabia, the UK, Italy, and Spain). The client wanted to gain actionable insights into the fleet management market space with emphasis on medium and heavy-duty trucks and buses.

Our Research Methodology

To gain strategic fleet management insights, Infiniti’s market intelligence experts carried out a blended approach comprising email/phone based invites, reminders, and conducting telephone surveys, followed by data analysis and insight development. The market experts further carried out in-depth secondary research to identify and develop the database of up to 500 target respondents for conducting primary research.a2

As a research provider of choice to more than 55 Fortune 500 clients and other leading firms in the world, we at Infiniti have successfully executed a number of customer, market, and competitive assessment studies within the logistics, transportation, and allied industries for our global clients and believe that we are uniquely positioned to understand and address the current research requirement of the client.

Our Solution Helped the Client

  • Design analysis framework using multiple data analysis tools and software packages
  • Understand the purchase patterns of automotive fleet leasing and management
  • Analyze the penetration levels of fleet management among the target regions
  • Assess the market for automotive fleets in terms of medium and heavy-duty trucks and buses

Benefits of Our Integrated Approach

In just eight weeks, Infiniti’s market intelligence experts were able to gauge information on the fleet management market in terms of the competitors, potential drivers, and planned positioning. The engagement assisted the client in identifying fleet usage by different companies and the purchase patterns of fleet leasing. With our help, the client was able to analyze the aftermarket of fleet management.

A must-read market assessment case study for strategy experts and decision makers looking to understand the market landscape for fleet mangement.

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