Future of Mining
The prospect for significant extraction opportunities lies right on sea floors, especially considering that we have only explored five per cent of the deep ocean. The deep sea has created formation with highly valued metals that can be mined. Polymetallic modules — softballsized formations that litter the seabed — are rich sources of nickel, cobalt, copper, and magnesium. Polymetallic sulphides form when hot water from the earth’s crust meets cold water, resulting in smokestack formations rich in iron, silver, and gold. Underwater crust formations and mountains (mostly in the Pacific) are rich in rare earth metals, like cobalt, vanadium, molybdenum, platinum, and tellurium. Space mining might seem like something out of science fiction, but it is a future frontier that may not be too far off. Some experts contend that asteroid mining may be a reality by 2025. Why asteroids and not Mars first? Beside containing valuable minerals like platinum and palladium, reaching an asteroid that is near to earth requires far less energy than reaching a far-away planet like Mars. NASA and advocates of space mining have noodled on the many ways that asteroids could be mined, with most ideas focused on launching an interconnected army of robotic devices and crewless
mining spaceships to extract minerals and send them back to earth. Some say that human could soon follow, but the low surface gravity of asteroids offers some serious obstacles. Even though Mars is a much further destination, the red planet is estimated to be rich in ore and other valuable minerals. Also, if colonization is the end goal, mining activities on a planet like Mars may allow colonies to be self-sustainable. NASA continues to tap into fresh minds in academia in brainstorming new mining robotics designed for celestial surfaces like Mars.
The future of mining looks bright There is no doubt the mining industry faces some significant challenges. The increasing demand for minerals and metals coupled with the pressure to increase output cost-effectively puts many mining operations in a tough spot. Fortunately, digital transformation and new technologies offer mining companies golden opportunities to become more efficient, boost production, and cut costs while making the work environment safer. And, although the push for sustainability and environmentalism may have headwinds, mining operations are becoming increasingly green and also benefiting from the push for materials to build electric cars and renewable fuel sources of energy. Finally, future opportunities for mining in the deep sea, space, and abandoned mines mean the industry has more frontiers to conquer. Mining and Tunnelling Technology 20
