financetom
Technology
financetom
/
Technology
/
China pushes to digitise coal mines for safety, efficiency — where India stands
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China pushes to digitise coal mines for safety, efficiency — where India stands
Apr 27, 2023 8:29 AM

China is utilising 'smart' technology in order to improve its coal mines safety records. This is a part of China’s National Energy Administration push to protect its output as well as prevent frequent accidents and collapses. Huawei Technologies Ltd has teamed up with China's Shaanxi Coal Industry Co to pilot the intelligent coal mine technology in Xiaobaodang and Hongliulin.

How does this new technology work?

Smart mine sensors monitor factors like gas build-up, ventilation levels and flooding, and send an alert if any of these factors reach a dangerous level. The sensors are placed in the coal mines as well as carts and tools. They transfer data via 5G, which allows monitoring in real time by a central command.

The system has enabled Shaanxi to reduce the people working underground at the Xiaobaodang mine by 42 percent, while increasing the production levels. Miners are able work with robots that also monitor equipment, which includes sharp blades used to collect coal as well as centrally-controlled shearers.

India on digitising mines

Last month, state-owned Coal India said it has conceptualised a digital transformation programme that would "reimagine" its mining operations.

It said this move would help it achieve the one-billion-tonne target of coal production by FY26.

Also Read: This new technology uses bricks to store heat energy

It launched the 'Project Digicoal' as well as 'digital war room' to monitor and also assist the project at its Kolkata headquarters. With this, the project went live in seven Coal India mines. The project will help the mining operations of Coal India become future-ready, utilising digital solutions.

The company has roped in Accenture as the consultant to design and implement the project.

The company said the project would drive efficiency via a portfolio of Industry 4.0 digital solutions like drones for robust planning and surveying, digitisation of land records, etc.

The state-owned company accounts for more than 80 percent of the coal output domestically.

Also Read: 20 MW Vankal Solar Park inaugurated in Mizoram, first in northeast India

Apart from digitisation and safety, how can miners look at sustainability?

A McKinsey report had illustrated how every part of the economy needs to decarbonise in order to get to the 1.5 degrees Celsius warming pathway. Also, McKinsey, in a recent sustainability blog, said forecasts indicate that climate hazards like drought, heat, heavy precipitation will get more intense and frequent, increasing the physical challenges to mining operations.

The blog suggested five main actions for mining executives to effectively respond to the effects of climate change:

Introduce 'climate intelligence' to processes of decision-making, like capital allocation.

Perform end-to-end diagnostics of the effects of climate change on the business to get a clear idea of what assets need to be protected from physical climate change and which stand to lose or gain from decarbonisation.

"Mobilise the C-suite and the board to set ambitious climate targets that come from the top," the blog stated.

Shift to renewables that can lower the electricity costs of the mines and also reduce their volatility.

Engage via partnerships and reporting and other proactive measures like climate risk disclosures that will become more important as climate expectations mature, the blog added.

Also Read:India may be understating the impact of heatwave

(Edited by : Shoma Bhattacharjee)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Dell Technologies's Options Frenzy: What You Need to Know
Dell Technologies's Options Frenzy: What You Need to Know
Apr 10, 2024
Investors with a lot of money to spend have taken a bearish stance on Dell Technologies ( DELL ) . And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this...
IMF warns industrial policy no magic cure for slow economic growth
IMF warns industrial policy no magic cure for slow economic growth
Apr 10, 2024
By Andrea Shalal WASHINGTON (Reuters) - The International Monetary Fund on Wednesday said recent industrial policy initiatives pursued by the United States, Europe and other countries to steer innovation in certain sectors were no panacea to boost economic growth. The IMF, in a chapter of its forthcoming Fiscal Monitor, said industrial policy could drive innovation if done well, but history...
How Is The Market Feeling About Guidewire Software?
How Is The Market Feeling About Guidewire Software?
Apr 10, 2024
Guidewire Software's ( GWRE ) short percent of float has fallen 11.46% since its last report. The company recently reported that it has 2.38 million shares sold short, which is 2.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.55 days to cover their short positions on average. Why Short...
BioNTech price tries to vent off oversold saturation - Forecast today - 10-04-2024
BioNTech price tries to vent off oversold saturation - Forecast today - 10-04-2024
Apr 10, 2024
BioNTechs stock price (BNTX) rose in the intraday levels while recouping some recent losses, as it also tries to vent off oversold saturation in the RSI with positive signals coming out of it. The main downward trend is dominating in the medium term with the stock trading alongside the secondary short-term trend line, with negative pressure from the 50-day SMA....
Copyright 2023-2024 - www.financetom.com All Rights Reserved