The opportunity to save millions of dollars over the life of the mine on a handful of assets by extending component life seems like a simple decision to make. But it's not.
We recently held a 30 minute webinar about the concept of extending component life (past OEM budgeted) life through the analysis and utilisation of condition monitoring data. We've done the math and we know the potential savings are in the hundreds of millions of dollars over the life of the mine. (on a full fleet)
With that being said, the task to implement a component extension program requires commitment and sponsorship from Management, Maintenance, Reliability and Operations to be successful. We know that the key is monitoring the condition of the components and acting as early as possible once conditions change. That means a spanner needs to be turned and work on the equipment needs to occur. It can be as simple as an inspection or changing a seal, but the work needs to be done. Culture is an important part of the success of the component extension program to ensure that everyone knows their responsibility to get the work completed.
Although the ROI are significant, there's a lot of planning and dedication that needs to occur to even get the project started. But it's worth it!
Download the webinar and presentation to get an idea of what's needed to extend component life on your mobile mining assets.