detection of malfunctions or areas that could use improvement .

“ By assembling the right teams , setting the business up to embrace and drive change , and rapidly delivering results and insights , data-driven innovation is widening the leadership gap for miners .” explains Paul Mitchell , EY Global Mining & Metals Leader .

“ Data analytics helps mining companies to optimise how physical assets across the value chain are maintained to minimise and predict operational downtime and ensure the right work is being done at the right time in the right location across the asset lifecycle .”

The application of this can bring down costs as companies avoid asset failures ; Syncrude Canada , for example , saved $ 20mn in annual operating cost avoidance . After acquiring actionable digital insights that enabled them to modify their operations – in a timely manner so as to ensure environmental compliance – Barrick Gold achieved a significant 45 % reduction in environmental-permit deviations .

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