05/24/2022 | News release | Distributed by Public on 05/24/2022 10:27
The mining, minerals, and metals industry can do little about many factors that often squeeze cash flows. Dynamics like commodity prices, utility energy costs, labor rates, and geopolitical events are all random variables that can impact enterprise value.
However, thanks to advanced digital capabilities, mining organizations can take more control over how they respond and adapt to the business challenges and market volatility they all face. Items such as CapEx and OpEx, energy usage, workforce productivity, supply chain management, and others can be actively managed and improved with the right tools.
Waist up of with short hair caucasian young male working class who is outdoors wearing waistcoat who is of muscular build and using digital tablet
The topic of optimizing the mining value chain by leveraging the synergies of converged operations was recently explored in depth by industry experts during a dynamic innovation talk entitled, "Rethink Mining with Digitally Integrated Power and Process." A few of the key takeaways from the session are asked and answered below:
A. Thanks to technological advances and digitization, mining companies now have access to much more potentially valuable data than before. To drive predictable outcomes and turn information into a business advantage, organizations need to maximize their digitization investment by integrating and digitalizing their operations so that data-driven insights can be shared and made actionable across the entire mining value chain. The primary challenges facing MMM enterprises today even goes beyond digitalization and into full digital transformation. Ergo, such a paradigm shift in a digitalized operating model should consider:
A. In an increasingly complex and unpredictable environment, integrating operations and functions are all about enabling everyone across an organization to leverage data and information better so they are empowered to make business decisions that optimize the productive value chain. Developing the agility to respond to internal and external events effectively is key to transforming any mining enterprise into one that can proactively mitigate risk and gain a competitive advantage.
A. An Integrated Operations Center (IOC) is an updated version of the old control room, "digitally transformed" for today's mining operations. It can be designed to deliver a new way of working, examining the whole operation rather than focusing on separate (often siloed) functional areas. It can be a consolidated, centralized hub to present unified information from multiple sites and any stage along the value chain. A properly configured IOC fosters collaboration across functional teams, promotes operational benchmarking and communication of best practices through data sharing, and increases transparency enterprise-wide.
A. Because of natural interdependencies, plus the advent of new digital technologies, electrical and process automation systems are now impossible to decouple. Amalgamating data from both systems in a single location is one of the best ways to dramatically improve the productivity, reliability, and safety of mining processes and plant assets. And the integrated, collaborative digital environment of an IOC is an effective operational environment for personnel to convert the information into actionable innovation. Marrying energy management capabilities with existing automation tools provides a range of substantial benefits, including:
A. Mining companies can leverage their increasingly digitally-savvy workforce to cultivate a more innovative culture across their business through the democratization of their data and information across the value chain. This can be achieved by making data easily and securely accessible for experimentation and then rolling out those proven innovations across the enterprise through an IOC.
A. The most effective IOC deployments are built around ensuring all employees are multiskilled and embrace interdepartmental collaboration to drive improved productivity. With the right tools and training in place to fully optimize an integrated network, Schneider Electric project results show that mining enterprises can reap substantial benefits, including:
To learn more from the experts about how digitally integrated power and process and an IOC can help MMM companies transform operations, watch the "Rethink Mining with Digitally Integrated Power & Process" Innovation Talk today.