Sept 12 Barrick Gold Corp, the world's
biggest gold producer, said on Monday it would partner with
Cisco Systems to incorporate digital technology in all
aspects of its mining business, aiming to improve productivity
Toronto-based Barrick said it would work with Cisco 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.
Mining sector players have long lamented the lack of
technological innovation in the industry although some miners
such as Dundee Precious Metals have started using
wireless technology and software platforms to track underground
operations in real time.
"Harnessing the potential of digital technology will unlock
value across our business, helping us grow our free cash flow
per share," Barrick Executive Chairman John Thornton said in a
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
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
Barrick's shares were up 1.3 percent at C$23.17 on the
Toronto Stock Exchange, in line with other gold stocks.
(Reporting by Nicole Mordant in Vancouver; Editing by Will