Remote-Control Monitoring Cuts Maintenance Costs

The latest downturn in the world’s metal prices has forced many mining companies to focus on cost reduction and productivity improvements to remain competitive. Maintenance represents a significant part of the overall operating costs in the mining industry. A structured, proactive maintenance approach, such as reliability-centered maintenance, can achieve cost reductions and productivity improvements. Remote condition-monitoring systems are becoming commonplace because they have the potential to identify problems before failure. Detection of equipment degradation before failure will enable repairs to be scheduled, thereby reducing costs and interruptions to production. The mining industry is in the midst of uncertain times. Decreasing commodity prices, demand, head grade and capital availability along with increasing environmental requirements have put pressure on mining companies to significantly reduce costs to maintain short- and long-term viability. Corporations are looking at expansion, merger/consolidation and financial/hedging programs to achieve these cost reductions. Mines are reducing costs by eliminating all but essential expenditures, increasing production levels, reducing overtime and investing in new technologies.