What does digital transformation mean for mining and metals companies?
At first glance, many parts of the metals, mining and manufacturing industry may not seem the most obvious candidates for digital technology-driven efficiency gains. For one, many of the manufacturing processes are generations old. Steelmakers have been using electric arc furnaces and Linz-Donawitz processes since shortly after World War II, while aluminium producers have been smelting the light metal using the Hall–Héroult process since its discovery late in the nineteenth century. And it is difficult to apply modern, industrial data-driven pricing methods to markets where one’s own prices are not in one’s own control, are commonly set on exchanges, and have themselves become speculative financial instruments for lightning fast algorithmic traders