The mining companies face manifolds challenges from safeguarding stakeholder’s interests, enhancing profitability, and optimizing productivity. To streamline the operation, the companies must adhere to established best practices and policies of the industry to become more proficient and prolific. The most successful mining companies realize cost-cutting hampers long term growth. The right attitude is to invest in the state of the art equipment like underground rigs & bolters, which ensures optimized utilisation of physical resources and inventories. A streamlined production process gives an optimum return on capital invested.
Mining for efficiency
According to a report, using modern equipment in open-cut mines enhances productivity and profitability. The report was based on aggregate data from 136 open-cut mines, using 4,760 types of equipment over 20 years. The report established that productivity fell by 18% from 2006 to 2013. The reason behind the plunge was irrational cost-cutting and increasing productivity.
Implementing cost-cutting and enhancing productivity does not increase industry productivity and bottom line. Investing in a modern state of art underground rigs & bolters for excavation maximize productivity and minimize life cycle cost. This equipment is engineered for trouble-free, ergonomic operation, reducing potential cost per meter. A comprehensive plan and strategy is needed to deliver the desired growth and productivity.
Managing the environment
Mining is always hazardous and unsafe business. Advancement of science and technology has compressed the dangers and made it more accessible and safe. The risk element is reduced only when the best safe work environment policy is implemented. Contemporary mining technology and techniques have considerably reduced the risk of disaster inside a mine. A proficient managerial operation which assigns, establishes and supervises workflow reduces possible hazard, and prepares for emergency exit in adversity. A safe work environment increases productivity and ensures the safety of miners.
Productivity is an essential aspect of the growth of the economy. Sustained productivity ensures future prosperity and global competitiveness. Cutting overheads and increasing productivity is not the solution for core productivity and profitability. Productivity is chiefly dependent on employees’ behaviour. Better equipment can enhance productivity by 5% to 10%, but it requires additional capital and change in work culture. A shift in work practices can augment income by 20%, which does not require a penny. Purchasing and implementing better equipment has generated significant gains and productivity. Acquiring the much-needed equipment, rather than the available one is vital to achieve optimized productivity, hence profitability.