Takeover target Micromine reports has added reserving functionality to its ‘best-in-class’ soft-rock mine scheduling and haulage modelling software Micromine Spry.
The Perth-based mining services technology services company, which is being pursued by global industrial software company Aspen Technology (NASDAQ:AZPN) in a $900 million all-cash deal, says the reserving functionality elevates Micromine Spry’s performance to a new level.
Micromine says accurate coal reserve estimates are essential for maximising production, ensuring longevity, and achieving profitability in coal mining operations, although constantly updating estimates for scheduling is often a tedious process. Industry consultation by Micromine uncovered vast inefficiencies and lost time incorporating regular, accurate, and up-to-date reserving data into schedules – mainly stemming from the need to export data and switching applications.
In contrast, Micromine Spry’s new reserving functionality simplifies this process by consolidating reserving and scheduling tools and eliminating the need for switching between applications to generate precise reserve data.
This functionality streamlines workflows, allowing for swift modification of schedules based on the latest reserve estimates, and unlocks valuable time for mining engineers to improve schedules.
Addressing the new functionality, Micromine Chief Strategy and Product Officer Dr Kiril Alampieski says: “Micromine Spry is already renowned for its modelling speed, with complex schedules running in seconds. By adding the reserving functionality, we have created an all-encompassing solution that delivers accurate results in a fraction of the time.
“Bringing more of the scheduling process into Micromine Spry means our customers will enjoy seamless and more efficient workflows…”
Bringing more of the scheduling process into Micromine Spry means our customers will enjoy seamless and more efficient workflows, which helps them make better decisions to optimise their operations and boost their confidence in the operational and budgetary outcomes for their mines.”
The new reserving functionality comes with a suite of tools that includes quality calculations from grid and block models, cutting, labelling and manipulation tools for quick data transformation, and spatial reporting capabilities.
Mining.com.au on 30 March reported AspenTech is due to close the $900 million acquisition of Micromine from private equity firm Potentia Capital this coming quarter. In July 2022, global industrial software company ApenTech entered into a definitive agreement to acquire Micromine, a design and operational management solutions provider for the mining industry in an all-cash deal.
The pending acquisition is expected to close imminently, subject to receipt of regulatory approvals.
Write to Adam Orlando at Mining.com.au
Images: Micromine
