Innovation is about invention and doing things differently, and that’s risky. New electrified mining equipment and technologies are being developed. Companies up and down the value chain are creating new business models, value metrics, contracts, and financing schemes to capture the true value of renewable energy electrification and the true cost of carbon. But there are many unknowns. So much is being done for the first time.
In our Virtual Twin Maturity Model article series, we discussed how to accelerate innovation with virtual twin simulation by testing new ideas before building them. This data-driven technology also reduces risk by informing decision-makers better and faster.
One of the ways as an industry we’re going to rapidly innovate, and I think we do need to rapidly innovate, is not only through consortiums and through collaboration, is by de-risking.
To continue reading the full exclusive article in the GEOVIA Community – the Sustainable Mining Network. Please CLICK HERE.
Join the GEOVIA Community – The Sustainable Mining Network
Learn more within the GEOVIA community which is open to all mining professionals. This is a unique platform in which to discover expert GEOVIA knowledge and more about Sustainable Mining as well as to ask questions about all things mining-related.
The community is also THE place in which to access exclusive expert technical articles, product tips & tricks, updates on the latest product releases and information on upcoming events and E-seminars. To join for free, just click on the banner below.
To stay up to date with the latest digital innovations enabling the sustainable mines of the future, follow #GEOVIA