MineLens provides mining companies with the strategic business intelligence they need to identify, quantify, and prioritize value creation opportunities in their operations.
MineLens provides the answer:
Compare operating, labor and cost performance benchmarks to a broad global set of peers
MineLens, by McKinsey
Commodity prices have dipped substantially since their 2011 peaks, and the mining industry’s stock market valuation has followed these prices down. The big mining houses have been working hard on cutting costs, limiting capex and boosting productivity, all aimed at improving profitability. No one knows when the sector will recover, and the speed and size of that recovery is likely to vary considerably for different commodities, regions, and specific operations.
MineLens combines advanced analytics, a comprehensive database of mining performance metrics, and global mining expertise - enabling you to make informed decisions to drive labor and cost productivity, and equipment efficiency.
MineLens is a suite of services that combines 85 years of McKinsey industry and functional expertise with data, analytics, and software tools to help clients get greater clarity in decision making and gain significant long-term performance improvement.
"We believe that benchmarking is an essential part of understanding the true potential in our business."
"You can’t truly know how well you can do, until you know how well others have done."
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Engineering & Mining Journal
Applying Advanced Analytics to Optimize Open-pit Operations and Maintenance - By benchmarking readily available data, mining companies can model operations to determine the influence of different variables and make comparisons on a peer-to-peer basis. Those who track efficiencies in the mining business say that overall productivity is declining. Meanwhile, the cost to move a ton of ore continues to climb and many mines have to move more tons to recover the same amount of metal. Click to read more.
Geography and Geology are not Destiny - Faced with the lower coal price environment, most companies exporting into the global seaborne market have shifted focus from all-out production expansion back to controlling cost. Much of this cost containment has come by shuttering unprofitable operations, reworking mine plans to take out higher cost pits and cutting back on maintenance spending and new CAPEX. These strategies all have their merits, but they assume that the geography and geology of a coal seam are the determinants of the cost to mine it. That is to say, the location of the mine and the quality of the coal product establish overall project costs. This has truth to it: the thinner the seam, the deeper the reserve, the further a mine is from the coast, the bigger the cost challenge. Click to read more.