Digital Trends in the Mining Industry Value Chain

The term digitalization in the mining sector refers to the implementation of computerized or digital machinery, data, or systems, all of which are intended to reduce costs, boost corporate productivity and safety, and revolutionize industrial operations. The demand on top management to embrace the potentials offered by the digital economy to consider digital transformation a strategic priority is growing across all sectors of the economy, including the mining industry as the main production industry after oil and gas. It is widely acknowledged that digitalization is already a driving force within the mining sector and that it has a significant potential to modify enterprises' and stakeholders' relationships at each step of the value chain. Even though, there seems to be a lack of understanding of what needs to be studied from a managerial point of view in order to undertake digital transformation projects successfully. This paper aims to cover a brief overview of the current trends with reference to emerging technologies in the mining industry. Mining sector growth necessitates major reductions in production costs, a shift to lean production principles, and increases in state-of-the-art organizational performance. Besides the huge demand and the need for new low-carbon technologies (green technologies), it can be argued that the digital economy is considered a key driving force in the digital transformation of mining operations.