Hedge funds’ bullish bets on gold jump to four-year high
Hedge funds and other large speculators boosted their net-long position in gold.
Newmont Mining Corporation has selected the Maptek MineSuiteTM Production Management Information System for implementation at their Leeville and Midas underground gold operations in Nevada, USA.
MineSuite will fulfil Newmont’s key requirements for increased productivity and performance by providing shift managers with real-time information on production as well as the status of equipment, delays and assignments. Another key benefit of the MineSuite system is decreased maintenance downtime. This results from accurate reporting and the ability to receive real-time maintenance information in the underground environment during the current shift.
Data is collected and processed from underground equipment and infrastructure, with in-shift and end-of-period information and reports fed back to supervisors for short term planning.
‘In the current economic climate, mining companies are searching for better ways of applying their assets to achieve production and grade targets. Mines are choosing Maptek because our MineSuite system is customisable to their site, delivering results they need to meet their objectives,’ said Jon Larson, General Manager, North America.
‘Moreover, Newmont wanted to partner with a vendor interested in solving not only technical issues but also the business requirements of the sites,’ Larson added.
‘Maptek is now uniquely positioned to deliver resource modelling and mine planning through Vulcan, production execution; management and reporting solutions with MineSuite; and material tracking using I-Site scanning systems.’
MineSuite will also provide Newmont with a proximity awareness tool, which improves safety by alerting operators in cabs to other vehicles in the vicinity. New voice communication, process control and automation systems which have recently been installed at Midas and Leeville enable the streaming of tracking data in real time.
Maptek staff are working closely with Newmont to develop and implement the appropriate solution for the distinct requirements of the Leeville and Midas sites. ###
About MaptekTM
Maptek has been developing 3D mining technology for 30 years, helping mining companies worldwide to maintain their competitive advantage. Maptek’s robust, modular systems include Maptek VulcanTM, one of the world’s longest standing 3D mine planning and modelling packages, and Maptek I-SiteTM which provides easy-to-use high technology surveying solutions. Maptek MineSuiteTM is a mine production management information and fleet management system which makes operational information available to management in real time, providing a platform for business improvement. Maptek products are in use at more than 800 sites worldwide, supported by our responsive customer help desk, training and consulting services. With almost 20 percent of Maptek revenue being ploughed back into R&D, our users know they can rely on Maptek to provide them with the benefits of the latest technology.
