GMG Working Groups Asset Portfolio

A strong asset management strategy can improve safety and productivity and reduce costs and energy usage. This working group aims to identify best practices and provide guidance for the industry to achieve these benefits.


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 could 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

Working group update and 2021 initiatives:


The Asset Management Working Group aims to identify and share best practices in maintenance, reliability and asset lifecycle management. The primary objective is to establish a set of guidelines for world class asset management practices applicable to mining and create a community of interest that shares knowledge related to asset management in mining. The role of the group is to identify leading practices to improve asset safety and reliability, increase equipment runtime, improve production and lower operating costs. The group is an operator-driven global network with additional input from subject matter experts, suppliers and others with experience and interest in the subject.


  • Collaborate and leverage leading practices from other organizations and industries
  • Align with existing reliability and asset management standards
  • Identify common elements of successful reliability programs, including processes, tools, technologies and organizational roles
  • Develop metrics and KPIs that enable the monitoring of maintenance and reliability programs and performance effectiveness
  • Enable benchmarking and comparison of asset management performance within mining and externally
  • Develop and publish asset management best practice guidelines, including ones on common maintenance and reliability terminology, definitions and KPIs


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SMART Benchmarking Program

SMART Benchmarking provides a way for participating operations to compare equipment performance metrics in a confidential manner. Initiated in 2003, the vision for the Benchmarking program was to provide a means for low cost continuous benchmarking that would expand to include many surface mining operations. For each participating mining firm, benchmarking supports learning about best practice achievement in a performance dimension as a means to augment those dimensions where best in class performance has already been achieved. Golder Associates is the third-party administrator of the program, handling data processing and management for the reporting website.

Further information on the program can be found here.

We’re looking to assess the industry’s interest and needs. Take this survey to add your input!

Supporting Standards Development: Asset Management ISO TC 251

Asset Management ISO TC 251 sub-committee acts as a bridge between the mining industry and work of the ISO TC 251 – Asset Management, specifically the ISO 55000x standards series. The standards series is a global asset management systems tool to identify common practices that can be applied and utilized in the broadest possible range of industries, organizations and cultures. It will enable collaboration with other reliability and asset management organizations beyond the mining sector.