The Challenge
Determining whether owner-operation or contractor models were more appropriate for each mine required a detailed and impartial analysis. The corporation sought a comprehensive assessment that would not only inform immediate decisions but also support long-term operational improvements. Tacmin was tasked with delivering a data-driven, unbiased evaluation to guide these critical decisions at the corporate level.
Tacmin’s Benchmarking Approach
Tacmin’s approach involves a thorough collection and analysis of operational data from each mine to simulate different scenarios. Using geological models and Life of Mine (LOM) plans, Tacmin accurately simulates mine site operations. They then conduct a fleet selection exercise to determine the most suitable equipment, followed by an evaluation of equipment performance under site conditions. Sensitivity analysis using OEM Life-Cycle Costs (LCCs) is applied to assess impacts on the LOM plan. Finally, the results are integrated into cost models, ensuring alignment and seamless integration into the mining company’s strategic and financial goals, including sustainability and risk management.
Key Findings and Strategic Insights
Tacmin’s benchmarking analysis met the corporation’s objectives, providing clear guidance on the optimal operational model for each mine. The integration of these benchmarks into the company’s financial models allowed for more informed decision-making, ensuring that operational strategies were not only cost-effective but also aligned with long-term strategic goals. The benchmarks provided clarity on where operational improvements could be made, helping to optimize both CAPEX and OPEX across the corporation’s portfolio.
Impact on Corporate Decision-Making
The insights gained from Tacmin’s benchmarking efforts had a significant impact on the corporation’s operational improvement initiatives. By aligning the benchmarking results with financial models, the corporation was able to make well-informed, data-driven decisions that enhanced operational efficiency across multiple sites. Tacmin’s impartial analysis and comprehensive approach established a new standard for how the corporation approached its operational strategies, ensuring that improvements were both sustainable and strategically sound.
Strategic Value
Tacmin’s benchmarking enabled the corporation to gain a clearer understanding of its operational performance, optimize costs, and implement strategies that supported continuous improvement. The impartial and thorough analysis provided by Tacmin was instrumental in refining the corporation’s approach to operational efficiency, making Tacmin’s expertise a valuable asset in the corporation’s long-term success.
Conclusion
In the mining industry, where decisions regarding CAPEX and OPEX carry significant financial implications, partnering with an expert like Tacmin is essential for making informed, data-driven decisions. By integrating Tacmin’s benchmark models into their financial strategies, mining companies can drive continuous operational improvement, optimizing both performance and costs in a highly competitive environment.
Discover How Tacmin Can Help
For companies aiming to enhance operational efficiency and strategic decision-making, Tacmin offers comprehensive benchmarking services tailored to the mining industry's unique challenges. Explore how Tacmin can help your organization achieve its operational goals and drive continuous improvement.
