Per Simio Software, Industry 4.0 systems such as IoT, big data, and AR will help mining companies achieve 10X ROI. Using process digital twin technology will enable a further leap in returns to 20-40X.
A process digital twin serves as a digital copy of mining operations. Tests on the effects of changing process parameters (movement of vehicles, speed of mineral output, etc.) can show insights virtually without changing real-world operations. Connected to the enterprise systems and sensor data, the mining process digital twin provide dynamic mining plan and resource assignments. Benefits include preventing unnecessary capex, testing scenarios to quantify throughput, identifying bottlenecks, avoiding process mistakes, testing significant changes (building a new silo, stockpile or mining facility) and evaluating schedule changes. As a side benefit, it can also show how a process works visually in 3D, aligning stakeholder understanding.
MOSIMTEC specializes in deploying digital twin technology for mining companies. We have done dozens of mining projects, including all aspects of the value chain (mining, processing, supply chain and more), across many mine types, geographies and minerals/products over 15 years. Our industrial engineers and data scientists specialize in advanced simulation, optimization, digital twin and analytics tools to help mining companies future proof their business. How can MOSIMTEC help you?
Learn about MOSIMTEC simulation work in the mining industry here: https://mosimtec.com/industries/mining-simulation/
#modelingandsimulation #digitaltwin #futureproofyourbusiness
Read more here: https://www.simio.com/applications/mining-simulation-software/
See related – https://mosimtec.com/digital-twins-companies/