The mining industry faces increasing pressure to meet productivity and sustainability standards and mining experts are advocating the adoption of digital technology as a solution to solve the industry’s pending challenges. Likewise, a greater focus on sustainability from investors has placed an urgency to implement mining processes that fullfill responsible mining standards.
Meeting such reporting standards means mining operators will require tools that will allow them to easily document data points that are necessary for such reporting without causing any unnecessary interruptions and downtime to operations. Effective cyanide monitoring can help to reduce cyanide consumption and costs by 15 per cent and enables mines to increase their gold recovery by 2 per cent without any capital expenditure requirement. Not to mention the reduction in the use of detox reagent and water consumption and the time saved in waiting for test results.
CyanoGuard’s solution helps gold mining companies do a better job of reporting on environmental, social, and governance (ESG), particularly in the control of gold cyanidation. Our next-generation cyanide monitoring solution integrates automation, analytics, and artificial intelligence (AI) that helps mine operators make empowered decisions for responsible mining. All measured data points are transmitted and secured in real-time in an AI-based cloud platform, allowing mine operators to keep track of their cyanide usage. The stored data also will enable them to keep an overview of their cyanide usage for ESG reporting purposes and share this data with stakeholders, thereby increasing the transparency of mining operations. On a long-term basis, our solution allows them to reduce the use of cyanide while keeping gold recovery expectations progressively.
Gold mining companies that have established reporting and policies around ESG stand a better chance of receiving capital investment. Research shows gold mining companies that have strong engagement in building up their ESG profile outperform peers in terms of financial and stock performance.
To raise mining’s ESG credentials, miners need to lift their game both individually and collectively. Mining responsibly, considering all aspects of the mining life cycle, is more important now than it has ever been. But so too is being open and transparent about it. Reporting on the areas that really matter to stakeholders, whether they be investors, customers, employees, governments or the community at large, is critical in telling mining’s ESG story. – PwC’s Mine 2020 report (June 2020)
Particularly against the backdrop of the unprecedented COVID-19 pandemic, we are still able to deliver our solutions onsite and onboard mine operators remotely. Our solution is one of the few that indeed have a long-term impact: safeguarding the environment and helping the gold mining industry make the necessary digital transformation into the future.