Optimising production remains top mining challenge

Optimising production is the most urgent challenge facing the mining industry, according to this year’s Ventyx Mining Survey. And with equipment reliability and managing capital projects correctly also in the top four, it is clear that the industry is still very much focused on keeping costs down in the face of slim margins and fluctuating commodity prices.

As a result, the adoption of new technology appears to be growing slowly in the industry with over half of respondents (51%) reporting that their companies are actively implementing remote mining strategies and a clear majority of operations managers (67%), asset managers (92%) and corporate executives (67%) recognising the ability to make smarter decisions based on real-time information and equipment data as a key benefit of greater automation.

The complete list of most-urgent challenges is:

1. Optimising or maximising production.
2. Workforce safety.
3. Equipment reliability.
4. Managing capital projects correctly.
5. Addressing environmental concerns.
6. Executing to operational plan.

“The survey results confirm what we’re hearing from our customers: the mining industry is looking for better ways to profitably increase productivity, while ensuring safety and environmental compliance,” said Eduardo Gallestey, senior principle engineer for advanced process control at ABB. “Further, encouragingly, the miners see technology as one of the main enablers to achieve these goals.”

The Ventyx 2014 Global Mining Survey interviews 247 mining executives and managers in more than a dozen countries during July 2014.

Written by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/mining/29102014/world-coal-optimising-production-remains-top-mining-challenge-abb-ventyx-coal1501/