Starting a new mining venture can provide many benefits, both economically and socially to the region, however, there can be large challenges in making sure the venture is successful. With stakeholders and investors to please strong dependencies on heavy machinery, along with high capital investments and the ability to manage geological and operational data efficiently, ensuring all of these are managed correctly is vital.
Thanks to the influx of new mining centric technology, the mining industry is more capable than ever to capture, analyse and report on data in near real-time, allowing for increased efficient decision making.
Mining technology now has the ability to manage and track assets, record and disseminate the right information, implement new processes and procedures, to better capture material movement and production data. These capabilities allow the mining industry to reach their production goals and keep costs down, increasing productivity and the bottom line.
There are still many challenges remaining that could derail the most well-thought-out and precise plans. Staying efficient is not only about implementing technology, it is also about selecting and implementing the right solutions, processes and management priorities, to sustain a high productivity operation. A mining operation would be required to look at multiple ways and aspects to accomplish this;
- Improved Mine Planning
By improving mine planning, a mining operation can increase operational efficiency, allow for real-time data capture and reporting, which ultimately, can lead to increased production and reduction of costs. Technology and mining software play a crucial role in providing an automated tool to track the mine plan, comparing actual vs. plan and reducing workload time. Real time or near real time reporting also provides huge benefits in the decision-making process of a mining operation, supporting on-time adjustments that can increase production and avoid loss.
- Risk Management
Risk is inherent in any business venture. In the mining industry, managing risk can be mitigated by having the right information at the right time. Being able to increase the confidence in your geological model goes a long way in reducing the risk of mining in the wrong place or even investing in a new mine development.
In mine operations, being able to track and manage your production assets, and being able to accurately predict downtime and increase equipment reliability, can greatly reduce operational and capital cost risk. Mining software today, in the form of a GMP Solutions or an FMS (Fleet Management System) provide effective tools to manage and reduce the inherent risks in the areas of geological interpretation and modelling, mine design, mine planning and scheduling and fleet management. These kinds of tools, once implemented, will go a long way in the management and reduction of risk in the mine operations and project development realms.
- Workforce Planning
Implementing a system of accountability, scheduling and tracking can increase workforce productivity and reduce production costs. It allows for better employee management and engagement on a mine site. After all, if you take care of your employees, they’ll take care of your business. Training can also play a huge role in this area, cross-train your employees, allowing for team building and increase safety, and automate wherever possible to decrease production costs. By implementing shift planning and management software, allowing for effective task management and tracking these tools provide shift bosses the ability to watch their workforce, and also gives staff increased visibility and higher engagement levels.
- Invest in Technology
In fact, this process has been slower than most compared to others such as the financial or manufacturing industries. For many years, there has been a confidence problem with technology and the mining culture. Many shy away from technology, thinking it’s beyond them or that it’s an unnecessary headache. However, when used properly and set up to aid in the exploration or automation of mining operations, new software platforms and devices have the potential to make all the difference between an inefficient mine and one that significantly reduces production costs and increases total revenue.
You can streamline data reporting and data analysis, generate real time or near real time dashboards, create a central reporting system that allows stakeholders to access the right information and make decisions in real-time. As mentioned before, you can increase the efficiency of your mine plan, workforce, and production equipment.
The fact is that mineral extraction is getting more challenging every year and in the commodity market, there is little to no control on the revenue side of the equation. Mining software and technology will play a key role, now and in the future, in managing the other side of the equation: cost.
Contributors:
Fernando de Orbegoso
Regional Manager
MICROMINE USA
Aaron Amoroso
Micromine Training and Support Consultant
MICROMINE USA
