Measuring data value in mining has become critical for operational excellence. Data has the potential to drive better decisions, safer operations, and stronger performance, but how well is it being used? Without the right tools or strategies, even the most detailed information can fail to deliver its full value.

For industries like mining, construction and manufacturing – safety, compliance, and performance are non-negotiables. For these industries, data is more than a resource; it plays a critical role in driving operational success. When used effectively, it can uncover inefficiencies, reduce downtime, and help businesses stay ahead of risks. Yet too often, organizations leave this potential untapped.

Understanding the Impact:

When data is underutilized, the costs extend beyond inefficiency.

In mining, where safety and productivity are non-negotiables, fragmented data can lead to missed opportunities for risk prevention and performance improvement. Unplanned equipment failures can cost thousands to millions of dollars per hour, while safety incidents carry both human and financial costs that could often be prevented with better data utilization. Access to comprehensive data allows organizations to identify patterns and trends that might otherwise go unnoticed, enabling them to proactively detect and address potential risks before they develop into significant issues.

Supporting Facts for ROI Calculator:

 How much time do employees spend searching for information at work?

• According to a McKinsey report, employees spend an average of 1.8 hours per day (or 9.3 hours per week) searching for and gathering information.

What are the typical costs associated with rework in large projects?

• Rework costs on major projects can range from 2% to 20% of the total project value. For example, on a $10 million project, this could mean $500,000–$900,000 in rework costs (5–9%).

What are the costs of printing safety cards and checklists?

• Laminated safety cards cost $9.99 each, with bulk discounts reducing the price to under $1.00 per card for orders over 100. A one-time setup fee of $395 applies for custom designs.

• Pre-operational checklists are typically sold in pads of 50 sheets, with prices varying by supplier.
• Switching to digital solutions (i.e., DIGI CLIP) can reduce printing costs by up to 65%.
• For example: If you print 500 laminated safety cards at $1.00/card, the cost is $500/month. If you use printed checklist pads (e.g., 10 pads of 50 sheets), costs would vary depending on supplier pricing. Digital solutions may lower monthly costs significantly by eliminating printing expenses. Contact specific suppliers for exact quotes based on your monthly needs.

How much does equipment downtime cost in the mining industry?

• The average cost per incident of equipment downtime is approximately $180,000.

• Hourly downtime costs range from $130,000 to $187,500, depending on the equipment and site.
• Across the mining sector, total downtime can cost up to $10 billion annually.

What percentage of operating costs does maintenance represent in mining?

• Maintenance accounts for 30–50% of total mine operating costs.

• Mining companies typically allocate 35–50% of their annual budgets to maintenance.

What are the average costs associated with occupational injuries and fatalities in mining?

• Direct costs for occupational injuries (medical expenses and wage loss) vary widely but can range from hundreds to thousands of dollars per incident.

• The median cost of a fatality in mining is $1.42 million, with broader societal costs reaching hundreds of millions over time.

How do the costs of proactive hazard management compare to incident management?

• Proactive hazard management involves upfront investments in safety systems, training, and regular operating expenses such as labour (30–50%), maintenance (10–15%), and environmental compliance (5–20%). These investments are part of the regular cost of doing business and are designed to prevent incidents before they occur.

• In contrast, incident management incurs immediate expenses such as medical costs, equipment repair, and downtime, as well as hidden costs like lost productivity, increased insurance premiums, and reputational harm. For example, the average cost of a medically consulted injury is $42,000. Regulatory fines can reach up to $332,376 for serious violations.

• Over the long term, proactive hazard management is significantly more cost-effective than reactive incident management. Upfront investments in safety help to avoid hefty direct and indirect costs associated with incidents, such as medical costs, equipment repair, lost productivity, increased insurance premiums, and regulatory penalties.

What are the hidden or indirect costs of incidents?

• Direct Costs: Incidents result in immediate expenses such as medical treatment, equipment repair, and operational downtime. For example, the average cost of a medically consulted injury is $42,000, while fatalities cost $1.34 million each.

• Indirect costs can exceed direct costs and include lost productivity, training replacement workers, increased insurance premiums, reputational harm, and regulatory penalties.

• Mines may face fines up to $332,376 for flagrant violations, along with long-term operational impacts.
• Long-Term Impacts: Incidents can lead to permanent operational changes (e.g., extended safety procedures) that reduce productivity over time