IBM - FEATURED ARTICLES
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.
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Edited by Braden Becker
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