Newmont Goldcorp strives to lead in operational excellence: delivering efficiency improvements and world-class technical fundamentals is an important part of our strategy.
In 2018, we launched the Process Control Operations Support Hub Pilot Project in Australia with a mandate to streamline process control systems, procedures and monitoring tools, before implementing changes globally.
Thanks to the teamwork and collaboration of our Boddington team, the pilot project was a great success, demonstrating the need for process control support and the value of the project’s innovations. We learned that the operational support hub model accelerates the advanced process control value at our sites, and allows for knowledge and expertise to be targeted in a cost-efficient way. We also found that the demand for operations support hubs was higher than expected, and that introducing this support model would help drive improvement at our sites.
In line with our Full Potential program’s mandate to identify opportunities for efficiency and innovation across our business, the support hub has added $2.8 million USD in Full Potential value to date.1 This year, we plan to expand the Process Control Operations Support Hub globally, starting with our operations in Ghana. We look forward to full implementation in 2020, and appreciate our dedicated team for rising to this challenge.
1 Full Potential value as used in this blog is considered an operating measure provided for illustrative purposes, and should not be considered a GAAP or non-GAAP financial measure. Full Potential values are estimates utilized by management that represent estimated cumulative incremental value realized as a result of Full Potential projects implemented and are based upon both cost savings and efficiencies that have been monetized for purposes of the estimation. Because Full Potential estimates reflect differences between certain actual costs incurred and management estimates of costs that would have been incurred in the absence of the Full Potential program, such estimates are necessarily imprecise and are based on numerous judgments and assumptions.