MINING SOFTWARE
Hexagon ’ s Mining division and Phoenix Drill Control are in the advanced stages of commercialising a semi-autonomous drilling solution mining software and technology space to buck the recent trend of declining premiums in the wider technology M & A space , thanks to robust demand and a lack of supply options for mining customers .
“ Mining technology is a bit of a different story to the rest of the financial markets : our customers are large , producing mines and commodities have been fairly resilient , especially for companies supporting the ‘ electrification ’ push ,” he told IM . “ Quite simply , although capital may be harder to find , many of the technology acquisitions in our space are profitable businesses selling productivity and / or safety solutions to big profitable companies .” Requiring very specific knowledge , very specific products and a certain level of product maturity from its customer base prior to deployment , the software sector is not a space just any company can enter successfully .
“ That ’ s difficult for new entrants to overcome , so , honestly , acquisitions are – and likely will continue to be – a viable option for many in our space ,” Cooper said .
For the acquirer , M & A is a way to expand product offerings without incurring years of R & D effort , according to Cooper , who acknowledges Hexagon ’ s own transaction history in the mining technology space .
“ There are also advantages for the acquired company as well : Hexagon has brand recognition and a large pool of resources we can leverage in terms of technical product development , and we also have economies of scale that allow us to secure raw materials ( computer chips ) in
quantities that might be impossible for smaller players ,” he said .
In terms of the mining company demand dynamic , Cooper has witnessed a huge change in the way companies collect , analyse and act on data at a site and corporate level .
“ Today , value has been placed on transparency , auditability and redundancy ,” he said . “ We aim to get the right information to the right person at the right time ; sometimes the right person is at the site , sometimes at corporate office , and often it ’ s both at the same time .”
The latest developments to the company ’ s HxGN MinePlan product portfolio are a reflection of this change , with Hexagon ’ s Mining division adding its “ block model service ” to the platform for full transparency and audibility across simultaneous user accounts .
“ This is going to help bridge the site-tocorporate information silo ,” Cooper remarked .
Looking to democratise the data dynamic , Hexagon ’ s Mining division is offering a hybrid method of cloud- and edge-based computing to customers .
“ For safety and mission-critical systems , a robust edge solution might be the preference for a mining company ’ s core functions , but the final reporting / storage and final computations might be better suited in the cloud ,” Cooper explained . “ This hybrid method is in use for most of our operational technologies .”
The company is also doing its bit to tailor its offering to solve both the need to improve the industry ’ s ESG performance and cope with the ongoing labour issues being experienced across the sector .
“ On the ESG front , Hexagon has a whole suite of products that improve operational safety , productivity , efficiency and / or reduce waste from operations ,” Cooper said . “ We have products that help mines blast better and reduce dilution ; this combination supports productivity and reduces processing effort measurables in terms of energy , water , emissions , etc .”
It is also involved in specialised projects with clients to demonstrate and quantify how electrification ( trolley assist , for example ) will impact the mine schedule , mining rates , pit reserves and mine life .
Hexagon ’ s Mining division ’ s automation ambitions have also risen to the top of late , with partnerships with Mineral Resources Ltd – to automate long haul road trains in Australia – and Phoenix Drill Control – to propel autonomous drilling – established .
On the latter , the companies are in the advanced stages of commercialising a semiautonomous drilling solution . Cooper explained : “ Transitioning a repetitive , multi-variable process from a human to a computer , leads to productivity and efficiency gains – not to mention the safety aspect of a human engaged in a repetitive task many hours into their second night shift .”
A strategic software differentiator acQuire , a company focused on providing geoscientific information management software , has also been collaborating with industry to solve customer challenges by ensuring clients get as much functionality as possible out of products like GIM Suite and EnviroSys .
This is exemplified by its Nova Network , designed to give acQuire customers access to a qualified talent pool of geoscientific information management experts across its product range .
Alison Atkins , CEO of acQuire , called this a “ strategic differentiator ”, providing customers with more choice .
“ We align with independent consultants and external organisations who become our Nova Network Partners ,” she explained . “ Nova Network Partners are an excellent resource to supplement time-poor teams and can help
International Mining | FEBRUARY 2023