West Australia - Use of AI in Minning Guide

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West Australia - Use of AI in Minning Guide

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aggienash

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What EY can do for you

Through artificial intelligence (AI) and analytics, mining and metals companies can

use data to recognize patterns and anomalies and increase agility and

responsiveness, allowing them to be predictive and proactive instead of passive and

reactive. Empowered with insights, management can continue to drive strategic

decisions through a continuous feedback loop, improving both performance and risk

management.

We have a range of AI solutions, including an intelligent virtual assistant, scheduling

assistant and intelligent content generator, that can help you use your data to better

predict the most strategic future state for your business.

Companies need to start adopting AI sooner rather than later, because it is a

complex and lengthy process requiring patience and willingness to learn.

“AI is likely to create winners and losers, and those who start adopting the

technology early stand to be at a significant advantage,” says Nigel Duffy, EY Global

Innovation AI Leader.

For example, through predictive analytics and machine learning, companies can gain

a better understanding of customer and supplier trends and behavioral patterns. Two

clear benefits of this are the ability to capture price premiums locking in an

advantage on customer contracts and the ability to capture discounts on supplier

contracts. Taken one step further, this could entail capturing spot markets and price

premiums via sales contracted at different points in the value chain.

n planning for the future of operations, mining leaders seeking to turn
challenges into opportunities are increasingly looking to the suite of
advanced technologies related to artificial intelligence (AI), such as
machine learning and natural language processing that help drive deeper
insights, and deep learning neural networks that can significantly enhance
image and speech recognition. While there are no single technology
solutions to industry challenges, when effectively integrated into
workflows traditionally requiring human intelligence, AI-related
technologies are now enhancing the organization’s capacity to accomplish
tasks, make decisions, create engaging interactions, and generate
stronger business outcomes. This third report in the Deloitte-NORCAT
series on key trends in the mining industry examines where AI and related
applications are bringing tangible benefits and already making pathfinding
differences to mining operations. Drawing on a series of interviews
Deloitte and NORCAT conducted recently with technology companies
building AI solutions for mining companies, it explains how and why these
mining companies have used AI-based applications, while also identifying
key benefits and considerations for optimizing investment in these
technologies going forward. It verifies that success in the mining industry
increasingly depends on changing the way it does business—starting with
adapting to changing skills for frontline workers, and better understanding
how technology can ensure resources are used optimally, and that
operations become safer and more productive. It underscores that getting
there begins by addressing fundamental questions: y Why should mining
companies adopt AI applications? y Which key challenges arise when
deploying AI within the mining industry? y How can mining companies
prepare to adopt AI and take the first steps? Navigating the complexities
of any technology implementation can be challenging, however, and key
partnerships are increasingly critical to ensuring technology enhances the
company’s core values and capacities, while remaining flexible and
cost-effective. Let’s see how mining companies are already using
AI-related technologies to make a difference.

he mining industry is under more pressure than ever to increase efficiencies. This
comes as declining ore grades and more disparate and remote deposits create
greater challenges in securing new resources, and rising mining costs drive the
need for greater productivity at the mine site. At the same time, there is a strong
focus on ensuring safety and sustainability within mines. Artificial intelligence
(AI) in the mining industry can address many of these challenges and inefficiencies
through several key technologies in the value chain, including computer vision,
smart robots, data science, and machine learning.
The mining industry has always been at the forefront of technological progress. From
the steam engine enabling coal mining to be profitable, to advanced drilling
techniques, innovation has played a pivotal role in improving productivity and
efficiency, the organisers of IMARC 2023 say.

In recent years, the adoption of artificial intelligence (AI) has emerged as a

gamechanger for mining, allowing for more efficient exploration, taking automation to
new levels, generating greater yields, dramatically improving safety, and maximising
extraction, maintenance and operational performance.

Improving mine site efficiency

AI-powered systems are being rolled out across mining operations to enhance
resource estimation accuracy. By examining geological data patterns and
incorporating historical mining data, AI algorithms can provide more precise
estimates of mineral reserves. This helps mining companies make informed decisions
regarding investment, production planning and resource allocation, ultimately
maximising the economic potential of mining projects.

Mark O’Brien, General Manager for Digital Technology & Innovation at CITIC
Pacific Mining, notes that AI is already having a sizeable impact within the mining
industry.

“In South Australia, mining companies already have access to a massive library of
core samples, which are literally centuries of data,” he said. “Using AI-enabled
algorithms, we’re now finding resources that were originally missed. The process is
relatively similar to the advancement in DNA technology that has allowed
criminologists to review and solve old cases.”

Farzi Yusufali, co-Founder of Stratum AI, a company which provides bespoke, AI-
driven solutions to help mine sites increase their yields with lower risk, says: “One of
our clients noted that their yield predictions in terms of what was pulled out would
swing 30% each way on quarter-on-quarter. If you are processing millions of tonnes
of copper, that’s a problem. Now with the application of our AI system we found there
has been 58% accuracy increase in predictions quarter-on-quarter for the last couple of
years.”

AI also offers immense potential in streamlining mining operations and optimising

asset management. Through the use of Internet of Things (IoT) devices and sensors,
real-time data collection becomes feasible, enabling mining companies to monitor
equipment performance, evaluate operational metrics and identify potential
bottlenecks. AI algorithms can then process this data, generating valuable insights and
predictive models that enhance decision making and prevent unplanned downtime.