In the down phase of the cycle, revenue falls as costs continue to rise. Oversupply of key commodities drives prices down further. Shareholders suffering diminished returns apply greater pressure. Volatility is the only constant.
To achieve economies of scale, mining has grown ever bigger. Now your people and machines face bigger challenges. Equipment fails. Costs rise. Margins erode. Inefficiencies remain. It’s time to get more out of your operations. It’s time to optimize performance in a new way.
Mine 2014: Realigning Expectations, aggregated results of companies, 2013 vs. YA, pwc
Mine: a confidence crisis, aggregated results of companies, 2012 vs. YA, PwC.
In order to improve margins, the industry is changing focus—from CapEx to OpEx. Analysts all agree, it's time to stop making risky investments and pursuing more volume, and time to start controlling costs and fixing the productivity inefficiencies that grew over the past decade.
GE's mining customers are following this new directive and experiencing a 1-21% increase in asset availability and a 1-10% increase in throughput.
When Lonmin wanted to maximize efficiency and unlock any hidden capacity in its process, it tuned to GE's Mine Performance to help. This would prove to be the start of a new partnership in which GE would help Lonmin with its continuous-improvement journey through optimization and operational transparency.
Improve your margins by using Mine Performance, from GE Predictivity™ (formerly Proficy MaxxMine), a software and services solution. Delivered through GE's Industrial Performance & Reliability Center (IPRC), this Industrial Internet solution leverages your historical Industrial Big Data on all fixed and mobile assets and process circuits across all OEMs. The solution attacks both equipment health and process issues to help improve asset uptime, minimize variability, optimize throughput and recovery, and reduce energy costs.