24 Jan 2017 -
Podcast by The acQuire Newsroom
The GIM Channel 06: Out of the pit and into the future
Zane Prickett, Director of Unearthed, joins this week’s episode of The GIM Channel to discuss how start-ups and hackathons help foster greater innovation in the natural resources sector.
Unearthed started in Perth with the aim of connecting the innovator community with larger companies from the resources industry. Since 2014 it has delivered 15 resource focused hackathon events around the world.
Zane discusses the mine of the future and how new technologies could change the mining landscape, opening opportunities for the next generation of services, products and equipment.
Here are some key take-outs:
- The resources industry is willing to make changes and it is willing to improve at this current time.
- There is innovation within the industry and it’s on the cusp of big changes.
- The faster companies create their data in a central place and open the information to outside service suppliers and start-ups the faster they will change, improve and innovate.
“The siloed mentality of keeping all the data, all the challenges and everything internal, will decrease the velocity of change.” – Zane
“If you can get the time to co-create with one of your industry partners, you’ll get the best long term outcome.” – Zane
- Companies need to look at how they can create an ecosystem or platform to allow others to help improve their business and operations.
- The biggest challenge is that it takes time to open data up to others, however once it’s done, there are 80 innovators trying to solve it.
“When you are more open and more transparent about the data and information you have, that enables people to solve your challenge and make you more efficient.” – Zane
The Mine of the Future
“The industry is going to look substantially different.” – Zane
- Zane predicts in 10 years the industry will be driven by computers, with things like automation changing the design of equipment, processes and mine design.
- With these changes, costs associated with mining will decrease and the mine of the future will be less hands on.
- New technologies, open innovation and collaboration will continue to be a key factor driving innovation
“Data is going to be key.” – Zane
- Opening data and information up is the biggest challenge in the industry but once it’s done, it exposes a company to new solutions.
- There will be less human staffing required however if this is addressed early, it can be turned into a positive outcome for the industry.
- There is potential to build significant technology companies here in Western Australia.
- Potential opportunities exist for experienced people in the resources industry to become engaged and use their expert knowledge and skills to build the next generation of products and equipment.
Here are the links you might need:
Have you heard the one about…
Jeremy Vincent from Capstone Mining discusses the value of geological data and how companies can do more to invest in it in the current market. Listen here >
acQuire’s Managing Director, Alison Atkins, provides her wrap up of 2016. Listen here >
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