Wednesday, 31 October 2018 09:53

Siemens, Interlate in deal to improve mining industry productivity

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Siemens, Interlate in deal to improve mining industry productivity Pixabay

Global technology company Siemens and Australian data analytics firm Interlate have signed a memorandum of understanding to improve productivity in the mining industry through the use of data.

A statement from Siemens said the two companies would examine the use of data in other industries like food and beverages, water, waste water and oil and gas after initially concentrating on mining.

The memorandum of understanding signed by the two companies outlines how they will use their expertise in data analytics and processing to build solutions that will add to the lifetime value of critical mining industry assets.

Michael Freyny, head of Siemens’ Digital Factory and Process Industries & Drives Divisions in Australia and New Zealand, said: “Industries such as mining that have made significant capital investments are now looking to optimise their total cost of ownership.

"With operational costs representing about 95% of asset lifecycle costs, customers are looking for digitalisation technologies that can help turn data from these assets into real value that will in turn drive increased overall equipment effectiveness, reduction in operational costs and support future growth.

"We take a long-term view to the market and understand the importance of being there to support our customers over the operational life of projects. This MoU with Interlate is a big step forward towards combining our product and process knowledge with their ability to turn data into real-time predictions and optimisations that not only benefit the customer, but the industry.

"As the fourth largest mining country in the world, how we apply digital technologies to progress the industry is important not just for the sector and Australia, but globally as well.”

Interlate chief executive and managing director David Meldrum said: “This MoU has the potential to create something very special for our customers and for Siemens’ mining customers. Siemens, through their global footprint and networks will add significantly to the richness and reach of Interlate’s intimate service delivery model.

"We are excited about the potential to deliver our solutions, jointly, to the global mining community and in time, other asset intensive industries. This MoU lays the foundation for us to accelerate our growth plans and expedite our product development roadmaps.

“Australia has an incredible opportunity to make our mining sector even more competitive through digitalisation. But this requires collaboration and partnerships such as Siemens and Interlate bringing together their brightest people with the latest technologies."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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