Solutions for mining
With so many assets, teams and moving parts in mining, every piece of data you put together can show patterns, deliver insights and enable accurate forecasts.
How can you use real-time data and analysis for more efficient production, streamlined operations and worker safety?
Solutions for mining
Mining businesses are often viable only when commodity prices remain favourable. However, a lot of factors remain in the miner’s direct control.
To succeed, you need to have the right solution to enable planning and forecasting at the appropriate level of detail and accuracy. This should not only accommodate annual budgets and rolling forecasts, but also include operational and life of mine plans which may extend out multiple decades.
Managing and updating key assumptions, planning appropriately for physicals and stockpiles, and keeping a close eye on forecasted cash costs across multiple scenarios is critical. Without the right tools, planning for mining can be especially challenging.
As a finance leader in your mining business, how can you keep your finger on the pulse and steer key stakeholders through important decisions with sound financial governance?
The array of expensive assets needed to run a mine require routine maintenance both physically, but also electronically, within the systems that monitor and track their activity.
When data about service intervals or load capacities is consistent across the organisation, everyone can make critical evidence-based decisions using the same information.
With the right technology, you can obtain equipment details from a vast array of disconnected systems and bring the best representation of it together in one place, thus improving accuracy and trust in both the operational and analytical systems you use.
How modern is your mine? ‘Smart’ mines these days can relay data like temperature, concentration of gases and water pressure.
With decision makers often far from mines, having real-time and accurate data available from anywhere helps them monitor operations and take fast action when needed.
With the right technology, management can also evaluate global supply trends, value of the dollar, domestic and foreign demand for resources, and adjust strategy accordingly.
Decision making can be enhanced through predictive analytics and what-if scenario modelling. With complete visibility, you can assess every mine’s productivity, profitability and asset return on investment.
How did a leading mining company extract value and reduce risk?
With a heavy dependence on Excel spreadsheets for reporting and budgeting, it was difficult for IGO’s finance team to improve their processes. Learn what they did to:
∙ Reduce month-end consolidation from days to minutes
∙ Increase accuracy and confidence in their numbers
∙ Provide meaningful analysis as a strategic business partner
10 Challenges for Life of Mine planning in Excel
Excel serves an important purpose in the planning process, but when modelling Life of Mine (LOM) plans there are unique challenges. Here are 10 reasons why LOM plans are particularly challenging in Excel and some of their consequences.