Guest Blogger, Liann Zimmer, Digital Marketing Intern
The Smart Solution for Cost Cutting
Commodity prices have dropped steadily since early 2011, reaching a market low at the end of 2015. This has left a looming sense of uncertainty for mining businesses. It is now critical to combat this uncertainty while capturing full advantage of recent increased demand. Typically, increasing prices or cutting costs are two options for boosting revenue. In mining though, where commodity prices cannot be controlled, cost-cutting is the only option, and boosting productivity is the best route for success.
Unlocking improvements in productivity is the smart solution for mining companies. Real-time technological innovations have opened the door to new productivity gains through automation, remote operations, safety enhancements, improved efficiency, and collaborative data collection: Information transmitted in seconds; downtime avoided; and accidents prevented mean significant benefits.
Real-time Connectivity through the Digital Mine
A major challenge in discovering innovative productive solutions is the need for companies to “drive the culture of innovation that spurred the first wave of improvements”, according to professional services firm, Deloitte. Hexagon Mining has successfully achieved productive technological advancements by encompassing the idea of a digital mine while looking beyond the mining industry for ideas. A prime example is our Collision Avoidance System, a solution adapted from the aviation industry, and now used in more than 25,000 vehicles in over 60 mines worldwide.
Every day we get closer to our vision of a digital mine where integrated, real-time solutions connect all parts of an operation. Planning software eliminates the need for blueprints and quickens data analyzation. Fleet tracking works in real time to provide operators and managers instant information about the location of equipment and processes. Mobile solutions allow data to be uploaded and shared right from the site, eliminating paper, saving time, and cutting costs.
Clear Benefits, Clear Results
Real-time data and technologies save time and money, but to what extent? At the Tarrawonga Mine in Australia, implementation of our mobile fleet management solution provided engineers with live data feeds after only three weeks. With this real-time data, truck wait times were reduced by 2.5 hours in just two months. Anthony Margetts, Mine Manager at Tarrawonga said: “Return on investment is expected to be within the first year.” At the KCGM Super Pit, our mobile drill and blast solutions now mean engineers wait only six seconds for in-field data. That’s as close to real time as it gets!
Mining companies will continue to struggle without the adoption of technology that drives productivity improvements. Deloitte mining consultant, Andrew Swart states: “Productivity improvement remains a critical priority for mining companies. Miners will need to foster innovation by adopting the right systems” for further efficiency gains.
Our real-time solutions provide clear benefits and clear results. The scope of cost savings by implementing these productivity measures is impressive. Take the next steps in boosting productivity by checking out the full catalog of our integrated digital mine solutions.