TMCnet - World's Largest Communications and Technology Community



| More


July 24, 2012

Altyntau Resources to Deploy IBM's New Business Analytics Solution for Enhancing Gold Mining Operations

By Calvin Azuri, TMCnet Contributor

IBM (News - Alert) recently announced a collaborative initiative with JSC Altyntau Resources, a reputable Kazakhstan-based gold producer. Through this collaboration, IBM will provide JSC Altyntau Resources with a new business analytics system to enable the company to enhance its gold yields and optimize its operational efficiency.

“From the very moment of our company's inception, we set ourselves the goal of becoming industry leaders by using the latest technologies and approaches to increase gold yields, decrease operational expenses, and ensure maximum profitability,” said Kazhibekov Ilyas, head of Planning and Financial Analysis at JSC Altyntau Resources. “IBM's business analytics technologies will give us the ability to quickly react to changes in gold production and make informed decisions about our mining operations."

By deploying the new system, Altyntau Resources will be able to both centralize and evaluate all data pertaining to its mining operations. The system features an information centric-dashboard which can be used by the management team to optimize its decision-making process spanning the various aspects of its mining operations to further enhance its return on investment.

As soon as the system is in place and running, JSC Altyntau Resources will bring its annual financial planning cycle up to speed from the previous two months to a much shorter two-week period.

The company’s investors will also be kept in the loop about all operations and via accurate forecasts.

JSC Altyntau Resources currently operates a number of mines in Kazakhstan. This includes the Vasilkovskoye gold ore deposit, where production had fallen and eventually stopped several times because of low grade ore. In 2009 however, a new gold recovery plant was constructed incorporating modern technologies which effectively renewed production.

At present, Vasilkovskoye is one of the largest gold mines in the world.

The new IBM Cognos (News - Alert) software is expected to be deployed in stages, handled by GMCS, IBM's local business partner. In the first phase, the company's financial planning processes will be aligned and managed in keeping with International Financial Reporting Standards, while in the next stage, plans for the HR department and labor costs will be addressed.

Want to learn more about the latest in communications and technology? Then be sure to attend
ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.

Edited by Braden Becker

comments powered by Disqus


Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy