Mitigating Risk: Disparate Data in the Mining Industry Featured

With operations often spread across various locations and the involvement of multiple teams, data can become fragmented, leading to inefficiencies and potential risks. Disparate data can have far-reaching impacts on business operations, affecting everything from strategic planning to day-to-day activities.

Information that is inconsistent, siloed, or poorly integrated poses a significant barrier to leaders who rely on accurate and timely data to make informed decisions. The consequences of such fragmentation are manifold and can lead to strategic setbacks, operational inefficiencies, compliance risks, and safety concerns.

The Challenges of Disparate Data

Mining companies often deal with data that is scattered across different systems and formats. This fragmentation can lead to a lack of visibility and control, making it difficult to make informed decisions. Disparate data can result in costly delays, as critical information may not be readily accessible when needed.

And, can prevent you from gaining an accurate picture of your mining environment, meaning decision-making is always compromised. This leads to investment loss and reputational risk.

”Having your data unorganized and all over the place has serious consequences to companies whose only value, quite honestly, is their data.

Dave Peres, Director of Technical Solutions, Seequent

The Impact of Poor Data Management Practices

Ineffective data management practices can exacerbate the issue of disparate data. Without standardized processes and a centralized system, data can become inconsistent and unreliable. This not only hinders operational efficiency but also poses significant risks to safety and compliance.

Bad data in, means bad data out – resulting in inaccurate geological models and an incomplete picture of your resources.  Inaccurate models can lead to unwanted project outcomes, for example, the increased risk of missing a drilling target or investing funding in the wrong areas.

“If you have got disparate data or if you haven’t got good data, then you don’t have the full picture. And if you don’t have the full picture, then your decision-making is always going to be compromised.” Says Sophie Tie, Geologist, Seequent.

Prioritizing Good Data Management

Good data management should be a priority for mining companies. It involves the implementation of standardized processes, the adoption of a centralized data management system, and the commitment to data integrity. This ensures that data is accurate, accessible, secure and actionable.

When data is properly cared for at inception, that is the first major step to ensuring it is organized, accurate, and collated in a way that is usable by the people or processes that come next in the value chain.

”If you have all your data consistently compiled in one place, you can start taking advantage of new techniques to gain fresh insights that were previously not possible.

David Peres, Director of Technical Solutions, Seequent

The Benefits of Improved Data Management

Improving data management practices  has numerous benefits, including enhanced decision-making, increased operational efficiency, and reduced costs. It also supports better compliance with industry standards and regulations, safeguarding a company’s reputation.

Effective data management is also the foundation for adopting new technologies such as artificial intelligence (AI) and machine learning (ML). These technologies enable data to be analyzed en masse, supporting frontline teams with a quicker understanding of the underground and the geological environment they are working in. And ultimately helping to transform mining operations, to become more productive.

Minimizing environmental impact and reducing unnecessary waste requires activities to be precise. Data helps you build a clearer picture of what you are working with; by making informed decisions you are removing inefficiencies, improving operational workflows, and enabling exploration and extraction processes to be more accurate.

”All mining companies aim to reach net zero emissions by 2050, with substantial reductions by 2030. This makes the industry extremely receptive to the many benefits that emerging technologies can offer.

Marcelo Godoy, CTO, AngloGold Ashanti

As the industry continues its journey towards digital transformation, good data management practices and supporting solutions ensure companies are well positioned to adapt to future technological advancements and remain competitive.

Embracing Innovative Data Management Solutions

Adopting innovative data management solutions can also transform the way mining companies handle data. Cloud-based platforms, for instance, allow teams to operate within a connected ecosystem, providing a single source of truth for data that’s open, connected, and dynamic. They offer real-time access to data  – regardless of a person’s location – facilitate collaboration and enable more agile responses to changing conditions.

By standardizing data collection and user access, cloud-based systems reduce the need for manual data entry and management, leading to significant cost savings in terms of time and labor.

Cloud solutions can quickly adapt to the changing needs of a mining operation, allowing for easy scaling up or down as required. This flexibility ensures that companies can manage their resources more efficiently without over-investing in infrastructure.

Seequent data management solutions such as Central, Imago, and MX Deposit integrate with a range of geoscience solutions, complementing existing systems and enabling a connected ecosystem for data to flow through.

By recognizing the critical importance of managing data effectively, addressing the challenges of disparate data, and embracing innovative solutions, mining companies can unlock greater productivity, mitigate project risks, improve safety and sustainability  and drive success across their  operations.

Seequent develops world-leading earth-modelling, analysis, data management, and collaboration software. We help organizations to understand the underground, giving the confidence to make better decisions faster.

Talk to us today about how we can help you unlock the value of your subsurface data and transform your exploration and mine performance.