According to PricewaterhouseCoopers' ("PwC") annual report on the South African mining industry, SA Mine, the industry as a whole returned to profitability in 2016 for the first time in 5 years. The report, published in September 2017, credits both recovering commodity prices and technology-enabled cost reductions for the return to profit. However, the industry faces regulatory uncertainty, and capex remains muted as a result of uncertainty and the hangover from a persistent low price environment. These factors have also pressured market capitalization of the top 10 South African miners, with gold miners in particular suffering a 52% reduction in market cap.
PwC notes that some of the improvement in profitability is attributable to digital transformation of mining activities, resulting in lower costs. This activity is particularly needed in a persistent low price environment. Smart IIoT technologies coupled with analytics can produce data-driven cost efficiencies throughout the lifecycle of a mine.
Blutip's SmartRFuel platform has enabled mining companies to save 4-5% of their fuel costs by monitoring and modifying specific signals sent to the engine control module in real-time. No operator intervention is required. In addition, our SmartRView data portal, coupled with our smart sensors on haul trucks, shovels, and other mining equipment, helps operations teams make better decisions and save millions of dollars over the mine lifecycle. Contact us today to get a free copy of our Mine Audit for examples of how other mines have used SmartRFuel to reduce costs and increase productivity.