3rd India Minetech 2020
India currently produces around 89 minerals under different groups, with fossil fuel, metallic minerals, non-metallic minerals, atomic minerals and minor minerals. The country has immense potential for mining resources and reserves and is currently among the top 10 global producers of many minerals.
Despite the slowdown, India is still the second-fastest growing economy, after China. Demand for minerals, as well as for technological mining, is robust in the country. Mining technology in India is becoming more structured, and companies have started outsourcing part of the project to mining service companies. As the industry focuses on adapting international levels of technology, there exists untapped potential in the Indian mining equipment sector.
For more than 100 years, mining has been a mainstay of most national economies. Minerals are an infinite resource – with time, mining shafts have gone deeper and deeper into the ground, posing a mortal danger to mine workers due to heat and tectonic instability. This has necessitated calls for innovation in the mining ventures. According to a recent global research study using the Internet of Things to turn mechanical processes into digital ones through automation technology, will be absolutely crucial to achieving this. The future of mining will ultimately rely on combining human creativity and experience with technology’s ever more sophisticated ability to collect, process and analyse vast quantities of data, and effective adopters will be able to overcome the industry’s current challenges through increased productivity and efficiency, and the redeployment of the human resources to more sophisticated roles as automated technology takes on more hazardous tasks.
Against this background, Indian Chamber of Commerce organized the 3rd India MineTech – A Seminar on Mining Technology on 6th March 2020 in Kolkata. The conference focussed on the current status of technology deployment in the mining sector and recent global advances in technology and explore solutions that are best suited for the industry.
Mr. Ajmal Fawad, Deputy Manager, VDMA India presented on “Indo German Cooperation in Mining Machinery sector” at the conference.