This is the first of a two-part series exploring the Nordic mining equipment sector; an industry grounded in complex engineering and tested by shifting market cycles, geopolitical friction, and regulatory hurdles.
Saw your comment on the rare earth mining post by Boredom Baron. Is there a technology on the horizon that will allow this in an efficient and environmentally neutral manner ?
There are certainly technologies -- in development but also already in use (i.e. BEV, HPGRs, laser mapping, automation, planning software etc.) -- that vastly reduce the environmental footprint and/or optimize efficiency. At the current stage though, I think it is a big ask to have mining itself become environmentally neutral. Incrementally, that's where its going -- but it will take a good amount of time before we get there.
Worth mentioning that while miners may be heavy emitters, their production (i.e. copper) can be instrumental to the green transition. In that context it is a net positive contribution.
Excellent article and deep dive to this topic. Based on my experience working with these companies over the past few year, I would add one important topic - digital services and solutions. Most of these companies are currently developing their own digital offering. Especially now when different AI capabilities are becoming more mainstream and functional. This gives them multiple benefits, saving on costs by making the equipment run more efficiently, saving on maintenance costs (for the customer) by introducing services like condition based, predictive and prescriptive maintenance, but most importantly by giving the equipment manufacturers additional, recurring revenues, helping to even out the cycles in the industry.
Some of these companies have already poured millions in their own development of these solutions whereas I see this should be treated more like a traditional make-or-buy decision - buying existing, cutting-edge software platforms from the market and concentrating their own work on areas where they have their unique competencies and strengths i.e. knowing how the equipment runs and how the mining processes work. This would radically fasten the time-to-market of these solutions, cut down development costs, and most importantly provide most value to the customers.
Looking forward to reading the second part of the article.
Saw your comment on the rare earth mining post by Boredom Baron. Is there a technology on the horizon that will allow this in an efficient and environmentally neutral manner ?
There are certainly technologies -- in development but also already in use (i.e. BEV, HPGRs, laser mapping, automation, planning software etc.) -- that vastly reduce the environmental footprint and/or optimize efficiency. At the current stage though, I think it is a big ask to have mining itself become environmentally neutral. Incrementally, that's where its going -- but it will take a good amount of time before we get there.
Worth mentioning that while miners may be heavy emitters, their production (i.e. copper) can be instrumental to the green transition. In that context it is a net positive contribution.
Excellent article and deep dive to this topic. Based on my experience working with these companies over the past few year, I would add one important topic - digital services and solutions. Most of these companies are currently developing their own digital offering. Especially now when different AI capabilities are becoming more mainstream and functional. This gives them multiple benefits, saving on costs by making the equipment run more efficiently, saving on maintenance costs (for the customer) by introducing services like condition based, predictive and prescriptive maintenance, but most importantly by giving the equipment manufacturers additional, recurring revenues, helping to even out the cycles in the industry.
Some of these companies have already poured millions in their own development of these solutions whereas I see this should be treated more like a traditional make-or-buy decision - buying existing, cutting-edge software platforms from the market and concentrating their own work on areas where they have their unique competencies and strengths i.e. knowing how the equipment runs and how the mining processes work. This would radically fasten the time-to-market of these solutions, cut down development costs, and most importantly provide most value to the customers.
Looking forward to reading the second part of the article.
Brilliant points -- thank you, Mika! And I fully agree; more emphasis will be put on digital & AI services in Part 2.
Fantastic. Looking forward to it!
Wow. Fantastic dive into this area. Great data and insight. A big thank you for giving us this. Looking forward to part 2.
Thank you for reading along Joel, it is much appreciated!