WHY DOES ASSET MANAGEMENT MATTER?
The mining industry is highly dependent on the state of its assets. As more and more resources are extracted from mines to meet rising demands, managing assets – including equipment, technology and the workforce – has become a key factor in increasing productivity. Asset management incorporates all maintenance and reliability activities and strategies as well as all lifecycle management and financial aspects of the asset as they relate to the overall organizational business strategy.
Effective asset management can result in:
- Improved asset safety
- Improved capital productivity
- Improved decision making
- Optimized lifecycle costs
- More effective risk management
- Higher levels of predictability
- Reduced energy usage