A global IIoT and cloud technology firm has created a tailored real-time Industrial IoT solution for tailings storage facilities insights. 

The solution will be available globally and aims to drive safety whilst mitigating risk surround the TSF lifecycle, from start to finish. The goal of the solution is set to provide mine operator with the best possible access to real-time data and analytics. This will enable constant surveillance across various TSF phases including construction, operation and closure.

According to Alex Pienaar, Sensemetrics Mining Director, the solution will offer a number of bespoke features designed with reinsurers and primary insurers in mind, giving them the ability to access critical insights for technical risk underwriting. Furthermore, it will also enable them to achieve end-to-end TSF assessment which currently isn’t available in the mining industry.

Pienaar continued, saying: “With this new offering we have taken our core IIoT Internet Protocol (IP) and tailored it to address the long-standing and highly critical challenges of TSF risk and safety, giving our mining company customers and the reinsurers and primary insurers who work with them a level of data transparency and actionable information they haven’t seen before”.

More features integrated into Sensemetrics solution include a remote sensing module in the form of a display which allows insurers to see deep insights into a large array of risk assessment parameters.

The solution also consists of an Application Programming Interface (API) feature which can enable the exchange of both real-time and previous sensor data between data analytics engines and the Sensemetrics platform. It also available on iOS and Android.

“The aim is to enable further development and customisation of tailored TSF insurance pricing models backed by data-driven risk analysis for one or multiple TSFs over their entire lifecycle,” says Pienaar.

“This ultimately secures insurability of TSFs in line with an adequate margin-profile for insurers. We view this approach as a win-win for our mining customers and their insurers.”

In conclusion, the new platform features a wide range of features which enables it to untangle complexities which are normally present amongst sensor automation and management in the mining industry. The solution is also designed to cut costs whilst boosting operational efficiency.