Blockchain technology and the mining industry: A review

Blockchain technology is one of the prominent disruptive technologies that are being implemented in several disciplines. The application of blockchains in the mining and mineral industry can provide utility to several processes especially when the industry is undertaking digital transformation. The governing principles of blockchain technology are applicable in undertaking transformation in several processes within the mining industry. This study investigates the applications of blockchain technology within the realms of the mining industry and identifies key areas of implementation. A systematic review of publications on academic platforms relating to blockchain technology in the mining industry did not retrieve a considerable number of articles. Consequently, a thorough review of white papers and articles authored by individuals on use cases within the mining industry is compiled and presented in this review article. This review article identifies all the potential areas within the mining industry where blockchains could provide value and improve processes through their implementation. The broad area of implementation of blockchains includes supply chain, traceability in spares parts, contract management, regulatory compliance and cybersecurity.