In any business, time is money. This is why downtime caused by equipment failure and breakdown can result in significant profit loss. Mining companies, for instance, rely on heavy machinery and equipment to keep their operations going. But what if machinery breaks down? How much is lost, and what can be done to prevent this issue?
The High Cost of Downtime in the Mining Industry
To ensure the high efficiency and enhanced productivity of your business, you need to check the performance and quality of your machinery. Failure to keep your equipment in check, or the continuous use of a piece of mining equipment that is already malfunctioning, will only make the problem worse.
Typically, the cost of downtime in mining companies can average in the hundreds of thousands of dollars per incident. If left unaddressed, or if the issue persists on a regular basis, the total annual cost of downtime can be astronomical. The amount can vary depending on the type of equipment that broke down, as well as the size of the company and the number of machines that failed, malfunctioned or are no longer operational.
In addition to these costs, there is also the potential for lost profit based on the lost production time. Mining companies may sustain substantial losses per hour for every equipment failure incident, which can lead to significant total downtime, including the actual shutdown of the equipment plus repair time.
Prevention is Better Than Cure: Tips to Combat Unexpected Downtime in a Mining Company
Considering the massive expense that comes with downtime in the mining industry, it is important to take these steps to prevent unplanned downtime in the company.
Ensure comprehensive, regular maintenance of machinery. Once a problem with the machinery arises, you have nothing left to do but suffer the monetary consequences of not keeping it well maintained. To prevent massive blows to your profit, inspect and maintain the operation and performance of your machinery. Check the bearings and all the other major parts to see that they are properly lubricated, with no missing pieces, loose connections or cracks. Investing in ultrasonic testing is particularly effective in testing for flaws and corrosion in components such as crushers, boilers and gears.
Maintain a comprehensive record of maintenance. Keep a record of the detailed cost of each breakdown as well as the other expenses, including when the machine was repaired or parts were replaced. By doing so, you can determine the next schedule for inspection and maintenance while monitoring the equipment's wear rate, preventing unplanned and astronomical repairs and breakdowns.
Set up a predictive plan. As the equipment in a mining company is the operation's lifeblood, it is wise to have a plan that prevents the failure rate from increasing. Since a significant percentage of machinery breakdowns are triggered by belt drive and hydraulic power failures, establish a plan of action that includes regular testing and maintenance, monitoring of wear rates, and engineers trained in non-destructive testing (NDT) who can assess the physical and functional properties of mining machinery.
How Durst Products Reduce the Impact of Downtime
Downtime is expensive and an unnecessary use of time, but it can be addressed. Set up a plan for condition monitoring, continuous improvement, root-cause analysis, asset management and defect elimination. These all help prevent machinery breakdowns that can cost thousands of dollars per hour on top of the repair bill.
Durst products play a critical role in minimising the impact of downtime:
Jump starters. Durst jump starters are essential tools that quickly get your machinery moving again after a breakdown. They provide the power to restart equipment, reducing the time spent waiting and minimising production losses.
Diagnostic tools. Durst diagnostic tools are designed for preventative maintenance. They help identify potential issues before they become critical, allowing timely intervention. By catching problems early, you avoid unexpected breakdowns and the costs that come with them.
Incorporating Durst products into your maintenance strategy can significantly reduce the cost of downtime. Two favourites on mining sites:
Maxion Truck Master Jump Starter for 24V trucks
HYPASTART X4500 Transport Heavy 12/24V Jump Starter
Talk to the team about keeping your fleet moving: contact Durst or call +61 2 9660 1755.
