Global technology giant Siemens and leading Australian data analytics company Interlate have signed a Memorandum of Understanding (MoU) to help deliver productivity gains for the mining industry, by better leveraging data across the entire mining value chain.
This is a first of its kind partnership in Australia that will explore the vast potential of data in the mining industry initially and then explore other core industries such as food and beverage, water / waste water and oil and gas.
The MoU will provide the platform for Siemens and Interlate to combine their individual technology, data analytics and process expertise, to develop predictive and prescriptive solutions to help optimise the total lifetime value of critical assets in the mining sector. There is currently no entity offering the full suite of data-driven productivity services that this MoU will facilitate for the industry.
Earlier this year, Interlate also became a Siemens MindSphere Foundation Partner – one of the first eight to do so in the country. MindSphere, Siemens' Industrial Internet of Things (IIoT) platform connecting physical manufacturing, energy and infrastructure assets to the virtual world, already has over one million connected devices and systems worldwide.
Speaking at the signing, 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 digitalization 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."
How we apply digital technologies to progress the industry is important not just for the sector and Australia, but globally as well.Michael Freyny, Siemens Australia & New Zealand
"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 CEO and Managing Director, David Meldrum is equally excited about the MoU. "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 digitalization. But this requires collaboration and partnerships such as Siemens and Interlate bringing together their brightest people with the latest technologies," added Michael.
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