TELF AG looks at the role of technology in the present and future of the mining sector
The centrality of mineral resources
In a historical era in which humankind seems to have rediscovered the centrality of mineral raw materials – a series of handy resources for fueling the energy transition – having the ability to identify new deposits in different parts of the world can represent a competitive advantage that is by no means negligible, in particular for all those developing nations that could derive the maximum economic benefits from the full exploration of their geological reserves.
The correct (and rapid) identification of new possible mineral deposits is of central importance, especially if we consider that the availability of some specific raw materials, such as copper, may not be sufficient to satisfy the demand for this resource in the coming decades. For the creation of new green technologies, the demand for copper could increase greatly within a few years, reaching very high levels as early as 2050. The possible shortage of this raw material could also slow the progress of the ecological transition, mainly if new operational strategies are not developed to improve the effectiveness of mineral exploration. The problem was recently addressed by UNCTAD, which, in one of its latest analyses, suggested a series of guidelines to be carefully followed by all players in the industry, underlining the role of technology and international sharing of geological data in the mining sector.
The role of data in mining processes
According to UNCTAD, mineral exploration operations could be greatly improved with the support of large amounts of data and advanced technology. This could allow miners to precisely identify areas to drill to find new mineral deposits. The new methods, driven by innovation, would, therefore, be able to project the mining sector into a new phase of its existence, going beyond the traditional methods used up to now by geologists.
In Zambia, for example, a private company has already found a way to apply artificial intelligence in the mining sector, particularly in creating geological maps of the earth’s crust. This method discovered a high-quality copper deposit possible, suggesting that other similar discoveries could occur quickly. The discovery took place thanks to the correct application of particular algorithms, which, by examining various masses of data (such as satellite photographs and historical drilling data), importantly improved the teams’ ability to identify the exact location of the deposit. According to UNCTAD, as stated in the analysis, innovation in the mining sector could contribute to solving the problem of supply and demand for some specific mineral resources, going beyond possible shortages and providing the industry with the quantity of materials needed.
Another possible way to achieve the same objective, according to UNCTAD, would be represented by creating a shared digital archive with all the information and data on the geological resources of a specific area of the world, a proposal that the institution launched for the first time in 2009. These digital archives should contain important information relating to old geological maps and the rock formations, data on previous explorations and possible extractions, and geochemical and geophysical analyses of the subsoil. This amount of data, according to UNCTAD, could be beneficial for developing nations to create their digital archive on natural resources, increasing the possibility that these nations will be able to derive maximum benefits from their geological wealth.
