The mining industry has adapted to the end of the commodities super-cycle and commodities instability, however, even with an intense focus on lowering costs and improving process efficiency, mining productivity overall is estimated to be lower now than a decade ago due in part to increased process intensity (due to constant grade decline) and the rise in energy, consumable and wage costs.Mining operations need to be more process intensive in order to deliver the necessary throughput to achieve productivity at a reasonable cost, which often requires larger and more costly assets (haul trucks, mills). But if these assets are not fully utilized due to unplanned downtime or inefficiency, the resulting production losses, compromised product quality and costly repairs will negatively impact the business. New innovations such as condition-based monitoring, predictive analytics, pattern recognition and cognitive technologies can now let mining companies implement a far more proactive maintenance strategy that will create greater profit from every ton or ounce extracted and processed and maximize the ROI of critical assets. This paper will address these trends and innovative technologies for better asset management and its role in operational excellence and improved profitability. It will present the benefits of asset management technologies and practices as demonstrated by a business case showing how technology enabled a mining company to achieve a 10-20 % improvement in global production capacity.
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