Optimizing Mining Operations Through Asset Tracking

The market for minerals that help power electric vehicles, wind turbines, solar panels and other technologies key to the clean energy transition has doubled in size over the past five years, according to a 2023 report by the International Energy Agency. As the momentum behind clean energy grows, the pressure on mining operations to meet demand increases exponentially. Combine this with supply chain concerns for critical resource shortages such as copper, and the outlook for market opportunities during this transition seems cloudy at best.

Certainly, the mining industry is facing some of its toughest challenges as a critical pillar on the road to Net-Zero Emissions by 2050. On a clear day however, the opportunities for mining to impact success emerge with technologies designed for productivity and supply chain optimization. As a leader in asset management, Geoforce is committed to providing that clarity.

The Copper Challenge: Revealing the Opportunity

Described as the “metal of electrification,” copper is intrinsic to the evolution of EVs. Each electric vehicle can have up to a mile of copper inside of it, in addition to the approximately 132 pounds needed to manufacture it.

As the industry contends with the challenges of demand, the time to invest in more efficient mining is now. Supporting EV efforts raises the pressure on you to work smarter and more strategically, accounting for productivity and sustainability in today’s operations while also focusing on the needs of the global energy transition. Doing so requires greater visibility and control over the location, use, and condition of assets such as dump trucks throughout large scale open‐pit mines.

Visibility into the extreme environments of above ground mining is essential to pinpointing areas for productivity improvements. Yet in this pressurized market, visibility on its own is not enough to tackle the challenges inherent to mining copper. Given a widespread workforce shortage, automation that focuses on reducing labor costs is undoubtedly mandatory. Analytics that transform raw tracker data into business intelligence are critical to uncover process inefficiencies that might otherwise remain unnoticed. Ready to optimize the use of your assets by up to 30%? Let’s explore the Geoforce difference.

The Geoforce Difference: Insights for Innovation

Geoforce is proud to be a strategic partner to organizations that require best-in-class traceability solutions that enable business insights for continuous improvement during the energy transition. From our view, tagging assets and collecting asset data is the foundation for efficient mining operations, while automation and analytics are the keys to getting results. We arm your field operations with the doorway to optimized production scheduling and streamlined inventory management based on factors such as fuel consumption, idle time, and maintenance data.

Consider the example of ETS, a leader in drill rig lubrication that keeps mining operations humming. This pioneering organization was able to prevent more than $240,000 in losses each year for its customer while simultaneously delivering the insights that uncovered opportunities to redeploy underused tanks and predict the need for refills or repairs. Enabling customers to make these business-critical decisions strengthens ETS’ position as a leader in service innovation.

Asset management plays a critical role in your ability to solve the problems of today while operating more efficiently for the future. Helping you get trailers, containers, and other equipment back on the road faster by decreasing the time they sit empty is a fundamental benefit of Geoforce solutions. Analytics and visualized data that let you make informed decisions on adjustments for scheduling and operations underscores the Geoforce difference.

Preparing for Change Through Informed Decision-Making

Insights that point the way to more productive mining operations will be key to navigating quickly in a growing, but volatile market. We couldn’t agree more with Ernst & Young’s perspective, that “challenges will be numerous, but history proves the resilience and the inventiveness of this sector.

Asset management can transform the routine of field operations by eliminating the pain of manual scheduling and inventory management and replacing it with digitized resource allocation for data-driven optimization of global assets. Visualized asset data supports compliance programs through comprehensive reporting.

This is the asset management system that will help navigate decision-making during the energy transition journey. This is the Geoforce difference. Schedule an appointment to meet the team that will be attending MINExpo 2024.