Miners are adding millions of dollars a year in profit by maximising ore recovery and reducing waste. How? They are using smart technology developed by global mining solutions provider, Snowden.
Used by top mining companies around the world, Snowden’s flagship mining intelligence solution “Reconcilor” is already producing substantial results for these companies.
Some miners are capturing tens of millions of dollars in extra value a year simply by optimising their existing mine operations. The chart below shows some of the real gains these miners are making.
“These are real productivity and profitability gains, they are made by making sure the maximum amount of ore is recovered from the resource” explained George McCullough, Snowden General Manager – Marketing and Innovation.
“Reconcilor allows them to recover more of their resource than ever before and makes sure it ends up in the customers’ hands and not on the waste dump.”
“Our latest version of Reconcilor, version 8, is now available.”
“It’s faster, highly standardised and uses the latest technology. We have made it ready to go ‘out-the-box’ so that mining companies get improvements faster” Mr McCullough said. “And it’s an Enterprise application which means it works across multiple operations and regions.”
Reconcilor 8 is a very sophisticated mining knowledge system that has been developed from Snowden’s 27 years of experience in over 12,000 mining projects around the world.
“We have integrated the combined 1,300 years’ of mining experience of our engineers, geologists, metallurgists and mine planners and created a solution that guides users through the process of optimising the entire value chain, from resource to customer” Mr McCullough said.
“It allows them to not only identify problems in their mining value chain, but also to uncover hidden opportunities for greater recoveries using their existing equipment. Reconcilor helps miners become more capital efficient.”
The process is known as mine reconciliation and has become a critical business process in recent years as the effects of falling commodity prices and productivity levels have hit many mining companies hard.
Last year some $220 billion of value was wiped off the top 40 global mining companies as many of them failed to meet market expectations and guidance forecasts.
Mining reconciliation aims to highlight the variances between planned mine production and actual production. “It is the platform of continuous operational improvement” explains Sean Helm, Product Manager for Reconcilor.
“The trouble is that many mining companies are not comparing like with like due to the multitude of ways data in the value chain is created and used. So mine reconciliation becomes a painful and time-consuming task and thus often gets pushed aside,” said Mr Helm.
“Reconcilor gives mining companies a complete picture of what’s going on in their mine in a way that they’ve never had before,” Mr McCullough said. “It allows mining operations leaders to get control of their operations and then continuously improve.”