The mining industry saw its biggest boom in the period 2004-2008. The industry saw increased plant and equipment capacities, virtual training platforms, increased computer application, robotics, and what not. Now, in not so exciting times, when the organizations are restructuring for sustenance, research and development function may bear the majority of the grim. In such a situation, what are the next BIG innovations in the mining industry, that could be expected to hit and rule the market, in the period of apparent slowdown.
Lets discuss the mega needs of the industry and how will the market shape in the next 5-10 years from 2014. In my opinion, the next few year will bring innovation towards energy efficiency. About one-third of the energy used in metal extraction being consumed by crushing and grinding, it will be a key area to focus towards reduction in energy use. New crushing and grinding mechanisms and use of grinding aids could be seen evolving. Pumping of slurries and process solutions also require significant amount of energy and need special attention towards energy reduction. New pump designs, friction reducing liners, and dispersants may emerge during this period.