Revolutionising Mining: The AI Advantage in Meeting Surging Demand

The copper industry is on the brink of a significant transformation, driven by the stark discrepancy between the current supply of copper and the expected surge in demand. As the global shift towards electric vehicles (EVs) gains momentum, the demand for copper is set to skyrocket. According to BHP chief development officer John Van Jaarsveld, this demand could require an additional 26 million tonnes of copper by the end of this decade. This surge is primarily attributed to the projected growth of electric vehicles, which is estimated to leap from 16 million in 2023 to a staggering 400 million by 2030.

For the mining industry, this demand presents an enormous challenge. The largest copper mine in the world, BHP’s Escondida mine in Chile, produces about one million tonnes of copper annually. Meeting the projected demand for copper, which is considered an essential component of various green technologies, from electric cars to solar panels, would require unprecedented innovation and efficiency. This is where artificial intelligence (AI) is poised to play a pivotal role.

AI is revolutionising copper mining in several critical ways, one of which is the exploration and discovery of new deposits. The technology can reveal overlooked resources, potentially leading to the discovery of new, economically viable deposits.

One of the groundbreaking applications of AI in copper mining is the analysis of geological data. BHP has successfully applied AI to analyse geological data stretching back 130 years, encompassing a staggering 11 terabytes of information. This vast treasure trove of historical data has been brought to life through AI-powered analysis. The implications are profound.

AI brings an agnostic view to the interpretation of data, analysing and drawing conclusions based solely on the data itself, without subjective or preconceived notions. This impartiality is a valuable quality in data analysis and decision-making. By applying AI analysis to historical geological data, mining companies can gain fresh insights and perspectives. This innovative approach is akin to giving exploration teams a “second chance” to discover new deposits, even in data collected decades ago.

An exemplary success story of AI in action is the discovery of Oak Dam in South Australia. This deposit was unearthed from geological data dating back to the 1960s, originally collected by a geologist from Western Mining Corporation. AI has reinvigorated this data, empowering modern exploration teams to extract valuable insights and identify previously overlooked opportunities.

The transformative potential of AI doesn’t stop at exploration. It extends to all facets of mining operations, from optimising resource extraction to enhancing worker safety. AI-driven automation can lead to more efficient, safer, and environmentally responsible mining practices.

In response to the increased need for copper in the age of eco-friendly technology, AI has emerged as a promising solution. The mining sector’s successful integration of AI signifies a new era of sustainability and innovation, ensuring that the world’s increasing demand for copper can be met without compromising the planet’s future. By leveraging AI for data analysis and exploration, mining companies can bridge the gap between supply and demand, unlocking new opportunities for copper extraction.