Barrick Gold is turning to technology to help find ways to streamline its mining operations by partnering with Cisco for a digital reinvention.
In a statement, Barrick said plans to first develop a flagship digital operation at its Cortez gold mine in Nevada, embedding technology in various parts of the operation to deliver better, faster, and safer mining.
“We are proud to partner with Cisco to drive our digital reinvention,” John L. Thornton, Barrick’s executive chairman said in the statement. “Harnessing the potential of digital technology will unlock value across our business, helping us grow our free cash flow per share. In so doing, we will make ourselves into a leading twenty-first century company — enhancing productivity and efficiency at our mines, and improving decision-making and performance across every area of our business. We mean to create value and push the boundaries of our industry in entirely new ways. Just as importantly, digital technology will allow us to reduce our environmental impact and be even more transparent with our local partners — especially indigenous communities, local governments, and NGOs.”
Thornton said the partnership with Cisco will enhance productivity and efficiency at Barrick mines and improve decision-making and performance.
For example, interactive data rooms will be set up with real-time data on mining operations, along with ways to analyze this data and make predictions from the information, Barrick said.
Barrick said the move will help it reduce its environmental impact and allow it to be more transparent with indigenous communities, local governments, and non-governmental organizations.