Tackling Africa's mining sector with data and AI
In recent years, technology has been a driving force behind the evolution of industries worldwide, and mining is no exception.
In Africa, the mining sector is on the cusp of a digital transformation that could significantly enhance operational efficiency, sustainability and compliance.
One such innovation is MiInsights, a tool initially developed by Forvis Mazars.
African mining companies face challenges, particularly the difficulty in managing and accessing accurate, comprehensive data availability and financial resources on a real time process.
However, we are in a phase of developing the tools and frameworks needed for progress in the industry. These tools, such as MiInsights, are not just theoretical; they are actionable technologies that can make a real impact on - and under - the ground.
In Africa, and specifically in Angola, mining companies often face significant technological and financial hurdles.
While the potential for growth is enormous - given the continent’s rich natural resources—access to accurate, organised data remains a key barrier. For countries like Angola, where financial constraints are common, the implementation of high-tech solutions can also be an uphill battle.
As Forvis Mazars country manager, I’ve seen firsthand the challenges faced by African mining companies. A lack of structured data, which hinders decision-making and stifles operational improvements.
However, tools like MiInsights have the potential to change this dynamic, providing mining companies with the access to online real-time data needed to optimise performance, based on their own data, streamline operations and support sustainability.
The application pulls data from various databases and presents it in digestible, secure formats, defined by the client and in real time.
The tool was built to meet the specific needs of mining operations, offering a comprehensive system to track critical data across production, logistics, human resources, sustainability and financial management.
This is achieved by creating Key Performance Indicators (KPIs) tailored to each customer, which can be tracked and managed by various stakeholders within the company. The data can be continuously updated, providing decision-makers with the most recent insights.
MiInsights offers mining companies the ability to manage vast amounts of data with ease. It allows stakeholders to analyse and compare operational data against benchmarks and previous years, helping identify gaps and opportunities for improvement.
The tool provides a clear view of how the business is performing, offering comparisons between planned objectives and actual outcomes, which can be vital for effective decision-making.
From tracking production rates to managing logistics, workforce efficiency and environmental impact, the data analytics tool allows companies to make informed decisions that drive improvement.
It also enables companies to stay on top of regulatory requirements, a critical aspect of the mining industry.
We’ve found that in Angola, the regulator’s capacity to fund such initiatives is limited. Most of the revenues come from licensing, and while the tool offers immense potential to improve efficiency, it's not always seen as an immediate priority due to budget constraints.
In Angola and across Africa, mining companies are facing increasing pressure to operate sustainably. As a result, governments and regulators are becoming more focused on ensuring that mining activities have minimal environmental impact.
MiInsights together with our consultant skill in this sector, will help companies comply with these regulations by providing the data needed to track sustainability efforts and identify areas for improvement.
However, one of the biggest hurdles we face in the mining industry in Angola is the lack of structured data. Effective data management is essential for the success of any data analytics tool like MiInsights.
Clearly, in the absence of ready access to organised, up-to-date information, even the most advanced technologies cannot deliver the desired results, due to this deficiency, additionally, we can provide a tailormade structured reporting database and make it available in a readable and manageable formatting to facilitate Forvis Mazars data analytics toll usage.
For many African mining operations, and I can vouch that this is especially the case in Angola, data systems are still in their infancy.
Efforts are underway to improve these systems, but until these databases are fully developed, the industry may struggle to maximise the potential of technologies like MiInsights.
Nonetheless, there is optimism in the air. With the right investments in data infrastructure, we can create a mining environment that fully embraces the capabilities of these digital tools.
A vision for the future
Looking ahead, I am confident that MiInsights will play an important role in the transformation of Africa’s mining industry.
The tool is not just about improving operational efficiency, it's about driving long-term sustainability. By tracking real-time data across various aspects of mining operations, companies can make more informed decisions at a minimum about energy consumption, waste management and environmental remediation.
While MiInsights is still in its early stages of implementation in the mining sector, it has already garnered interest from key players in Angola, including the national regulator.
The tool has been well received by Angola’s National Agency, which has recognised its potential to streamline operations and improve oversight in the mining sector. However, financial constraints remain a significant hurdle.
Moreover, as African countries continue to invest in infrastructure and improve the business environment for mining operations, the role of digital tools will only grow. The future of mining in Africa lies in leveraging technology to drive efficiency, sustainability and profitability.