By: Pakshaal S.Shah --
29 September, 2015
Mining and Mineral extraction productivity has declined by around 15% in the past 10 years. This has led to value erosion for mining companies on both capital expenditure and profitability fronts. Apart from this double edged sword problem, rising labor inflation, environmental regulation complaince costs and declining commodity prices due to slowdown in China have also squeezed the profits of the mining companies.
In order to maximise profitability and reduce cost, mining companies are implementing advanced techniques such as Internet of Things (IoT).
Internet of Things is sought after because of low cost advantages, increase in mineral production output, safety and streamlining supply chain.
Author: Pakshaal S.Shah