More Mining Companies Acquire Simulation Technology
Technology is a growing investment in the mining industry. Companies are continuously looking for newer and better innovation to increase productivity and decrease operating costs. One of those technological investments that are turning heads is equipment simulator systems.
According to experts, training simulators are increasingly being viewed as a sound investment and an important part of mine operations.
One of the companies providing this technology, which is known as advanced military standard Cybermine training simulators, is South Africa-based ThoroughTec Simulations. The company said it has experienced another year of continued growth as ThoroughTec broke into several new markets, including India and Kazakhstan.
“More and more mine operators are realizing the advantages that simulation can bring to their mine sites around the world,” says Greg Lew, Executive Vice President of Global Business at Thoroughbred. “We’re continuously receiving reports from mines about how simulation is aiding in the recruitment process, improving productivity and reaction times in emergency situations.”
“Because mine vehicles are being used for fewer training tasks, the associated running costs of training are greatly reduced,” says Lew. “Damage and wear-and-tear on mine vehicles decreases as green operators are able to familiarise themselves with the controls of the machines and iron out their mistakes on the mining simulator instead of the real machine. This means less unscheduled maintenance and lower maintenance and training costs.”
Mining companies are buying into the systems as some big name companies have recently bought into simulation to enhance their core fundamental performance. Advanced training simulators are being seen as an important part of mine safety as well as an investment into operator competency and productivity.
Axora launches global challenge for digital technology
Axora is launching the world’s first international competition to discover new cost-saving digital technology for industrial companies, which can produce rapid benefits within a year.
The Metals & Mining and Oil & Gas sectors have recently experienced budget cuts of 20% on average, driven by a variety of factors including the global pandemic, slump in demand and price wars. The Axora Cost-Saving Technology Challenge aims to transform these industries by discovering innovative, digital solutions that reduce cost fast and pay for themselves, whilst achieving the same or improved productivity, health and safety and sustainability standards.
“While digital solutions can help to get work done quicker and more cost-effectively, they typically require a three-year ROI, and if there’s no flexibility in the budget, a full budget planning cycle is needed to get things moving”, said Dr. Nick Mayhew, Chief Commercial Officer, Axora.
“Yet, extra financial cost is often incurred in delaying digital projects, so customers have asked us to highlight solutions that can have an ‘in year payback’ whereby the cost spent on the solution and deployment will be more than recovered within the budget year - this accelerates the timeline and drives positive business impact, quickly.”
The Axora Cost-Saving Technology Challenge
Axora is keen to learn of any digital cost-saving innovation which: meets the 12-month payback timeframe; can be deployed in any part of the value chain including upstream, downstream or midstream oil and gas, metals processing or mining; and is ready for market. The Axora Cost-Saving Technology Challenge is open to entrepreneurs, start-ups, academics and sector leaders across the world. The competition will be judged by a panel of leading industry experts.
“We’re passionate about supporting our industries and customers through all forms of digital transformation and the cost-saving solutions we are searching for could also provide a lifeline to many mining and metals and oil and gas companies in the current economic climate,” added Dr. Mayhew.
Improving productivity, safety and sustainability
Up to ten finalists will be chosen to pitch their solutions at a digital pitch day later this year, after which Axora will validate the ROI models and vet the solutions. The winner will receive the ‘Axora Market Accelerator’ sales and marketing package worth £10,000. This includes a two-hour workshop, promotion through Axora’s thought leadership content and inclusion into its digital demand engines, providing the opportunity for the winning solution to benefit thousands of industrial companies. Entries are open until May 31. Full details of the competition including terms and conditions can be found here.
To learn more about the Axora B2B digital solutions marketplace read our feature in the latest issue of Mining Global magazine.