Digging Up Mining Innovation

New technology is pushing the mining construction equipment market forward. Onshore mineral-rich mines are nearing exhaustion; the focus has shifted to offshore mining activities. The bottom of the ocean is rich in precious metals and other resources. This makes it crucial to develop technology to cater to the increasing demand for minerals and metals.

The implementation of automation is one of the changes in operation that will help the process to become fully integrated with remote capabilities, according to Technavio. This is made possible by a network of low cost, autonomous, highly capable sensors that use Internet of Things technologies. The goal is to cut down the associated costs and bring out the additional value of existing mines.

Rental companies are now offering global positioning system (GPS)-equipped machines to increase the efficiency of fleet management. The use of GPS, along with other such technologies, enable a wide range of high-tech functions that make the tracking of the fleets easier and also enable efficient fleet management. This can increase the efficiency of inventory management and reduce annual rental costs significantly.

This also comes at a time when there is a rising demand from the developing countries due to the increased demand for energy and power. For example, the government in India is focusing on boosting the domestic production of coal, which will help in lowering its dependence on imports. This will generate a demand for rental mining equipment such as longwall machines, continuous machines, cable shovels, and hydraulic shovels.

The rise in the construction of roads, buildings, and bridges also fuels the demand for coal. This will escalate coal mining activities, which will fuel the demand for mining equipment.

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