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PODCAST: Miners and the four types of innovation

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In the drive to innovate and go digital, innovation at mines can be categorized into four groups, said Theo Yameogo, EY National Mining & Metals Industry Co-Leader, who spoke to Kitco earlier this week.

Miners are typically known for applying hard science to improve processes. The work is often performed in conjunction with universities and research centers. Improving a cyanide extraction process would be a typical example.

Then there is the OEM innovation, original equipment manufacturers who are driving better work processes at mines through newer products and enhanced features.

"The driverless car is going to come typically come from the OEM, and not the miners themselves," said Yameogo.

Then you have lift-and-shift. A manager or executive is using a piece of technology at home and wonders why that technology can't be used at his job site. Perhaps the handy consumer technology that works well at home would work well at the mine, too.

Lastly, there is the innovation that comes from imitating another mining company. Yameogo points to the spread of dashboarding.

"Dashboarding is now more pervasive in the industry because no one wants to read through large PDF reports anymore," said Yameogo.

Listen to our podcast with Theo Yameogo.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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