South African mining technical software solutions and consulting services provider MineRP will launch its patent-pending GeoInventory solution at the Investing in African Mining Indaba, which will be held at the Cape Town International Convention Centre from February 3 to 6, MineRP CEO and president Pieter Nel tells Mining Weekly.

He notes that MineRP’s GeoInventory solution is at the heart of a new and innovative approach to managing any mine’s largest and most valuable asset – its mineral resources.

“MineRP’s GeoInventory solution is an approach to managing a mineral asset as inventory using a commercial enterprise resource planning solution system – such as enterprise resource planning giant SAP Mining & Metals’ inventory management and physical inventory software,” Nel states, adding that the solution “revolutionises” the way in which mines deal with business realities and the acumen of decision-making by the mining operation’s technical disciplines.

Further, Nel states that the GeoInventory solution facilitates on-demand, fully transparent and auditable access to resource and reserve statements, which was traditionally a highly complex and sensitive exercise that, typically, had to be undertaken once or twice a year.

Moreover, he asserts that the solution bridges the gap between the mining technical and financial worlds.

“Over and above the GeoInventory application, our solution improves operational effectiveness through the seamless integration of the fragmented mining technical disciplines such as geology, mine planning, designing and surveying,” states Nel.

Indaba Importance

MineRP believes that the Mining Indaba brings a unique blend of global mining and investment specialists together that are given a platform to address the expectations of the investment community and highlight the operational realities that mining companies face.

“Since our products allow for previously unachievable levels of integration between mining technical solutions and the commercial side of the business, we feel that we can offer both these audiences significant value at the indaba,” he asserts.
Further, Nel notes that events like the indaba play an important role in highlighting the shared plight of mining companies worldwide.

“Mines are often located in countries that have developing economies, where the perception of risk and uncertainty is high. Providing a platform for the African mining industry to rub shoulders with international peers and potential investors enables the indaba to help raise the collective level of understanding of the international mining and investment communities with regard to the hurdles that Africa-focused companies face in attracting sound investment,” he explains.

Nel adds that the indaba assists mining companies in recognising and responding to market fluctuations.
He notes that a report, published in June last year by professional services firm PwC, titled ‘Mine: A Confidence Crisis’, states that this crisis in the mining industry is attributed to companies’ significantly reduced net profits, variations in annual resource and reserve reports, as well as other important factors.

The PwC report notes that major industry challenges, such as threats of mine nationali- sation and the rampant replacement of top mining executives, have undermined the confidence of investors, who are not satisfied with the levels of uncertainty and inconsistency in critical areas.

Further, the report identifies these critical areas as mines’ resource and reserve statements, the allocation of capital, production and profit forecasts.

“It is time to rethink the way mines approach mineral asset management and reporting or they risk alienating the investor community,” warns Nel.

“From our side, we want to show the assembled investment and mining industry at the indaba that new thinking has created a unique and innovative way of rapidly increasing the confidence and accuracy of mineral asset management and reporting.”

Nel says that MineRP’s primary mission is not limited to consulting or selling software, but that the company rather focuses on “raising the general awareness of the need for enterprise-level integration between systems supporting mining technical and commercial disciplines”.

“We firmly believe that the time has come for the information technology and related-services communities to look beyond short-term sales and start collaborating to serve the end-to-end needs of growing and diversified mining companies,” he states.

Nel adds that MineRP is equally focused on establishing industry partnerships and meeting potential clients at the indaba.

Possible Event Highlights

Nel emphasises that the company will keenly follow the sessions that address the relationship between confidence and value at the Mining Indaba.

“These sessions will include workshops and keynote sessions discussing sustain- able development topics and enterprise risk, as well as the sessions presented by security exchanges,” he says.

Moreover, Nel adds that MineRP management is looking forward to meeting like-minded companies at the indaba that understand the value of integrating business-critical solutions across the enterprise to provide a reliable platform for sound decision-making, reporting and operational improvement.

“We hope that the Mining Indaba will instil new levels of interest, stability and investment in the local mining industry. To us, as an international company headquartered in South Africa, a healthy resources industry means a healthy economy, with confident producers and consumers willing to invest in the future of our industry,” Nel concludes.