Data Driven Decision Support Best Practice: Dynamic End to End Asset Management Platform (AMT & Ellipse)
Following many years of steadily increasing commodity prices through to 2013, the mining and minerals processing industry saw a boom in activity. This has had quite a significant “tail”, as in-flight capital investment continued to completion over the following 2 to 3 years, and the levels of capital investment are largely back to “at or below” long term averages. This leaves the industry in a “production era” where stakeholders (including shareholders) are looking for significant return following a period of unprecedented capital expenditure.
During the boom years miners, while supporting the principle of ‘sweating the assets’, could afford to take a fairly conservative approach to asset management; having an asset down meant lost production but with healthy margins, it was common practice to “over maintain”, hold additional equipment or “call in the armies” to maintain or maximise uptime. Now the industry is being challenged to continue to provide stakeholders with the long term returns they have come to expect or are awaiting. Asset management and maintenance strategies and the introduction of new technologies are under the spotlight with their impact on the long term to the sustainability of the business.