Incorporating ESG into Major Project Decisions & Design in the Resource Sector
Decision How does your company make its major capital project decisions, such as those with an installed cost of over $10M? Does it consider and incorporate all risks and opportunities? Is it a methodological approach or is it relatively adhoc where only economics are truly…
Asset Durability Management: Expertise at the Heart of Asset Management
Asset Durability Management (ADM) is a rapidly growing field of activity. Around the world, companies must balance their economic, social and environmental sustainability with the need to maintain and optimize their physical assets. With successive retirements, restructurings and relocations, corporate memory is being lost, as some of the knowledge and expertise disappears, making it difficult to determine the health and performance of assets. The development of cloud software such as a SaaS service has paved the way for significantly improved overall management of capital-intensive assets, whether they are infrastructure or equipment.
The Role of Engineering in ESG: Engineering the Future￼
While some of us must begrudgingly admit we have been working on ESG (Environmental Social and Governance) in all its forms for longer than we want to admit, until recently seeing any real progress has been far too slow. With climate change concerns now taking centre stage, by most accounts ESG has finally become “mainstream”. Ultimately, it will become just another term for doing good business.
This contemporary problem that threatens growth
According to a study by the Institut de la statistique du Québec, supported by data from Statistics Canada, there are more than 250,000 vacant positions throughout Quebec. The job market is increasingly under pressure. Since 2018, the demand for qualified workers is constantly increasing while the pool of resources is shrinking. A real scourge for the Quebec economy, the lack of personnel is a major barrier to the growth of SMEs in Quebec, particularly in the manufacturing sector, which represents 12.6% of Quebec’s GDP.
Extending the life of assets: a strategy for reducing the carbon footprint
Asset management has long relied on capital expenditures (CAPEX) and operating costs (OPEX) to ensure the satisfactory production capacity of a piece of equipment. While this accounting exercise remains an indispensable part of the equation, the life cycle of a physical asset is no longer…
What is the future for hydrogen in Canada?
In a previous article , we sought to discern a winning strategy for Québec to develop its local green hydrogen sector. Let’s briefly summarize its main conclusions: hydrogen is complementary to bioenergy, electrification and to strategies of energy sobriety and efficiency that must characterize the…
How to avoid replacing assets unnecessarily
Industry assets are at the heart of organizations’ production activities. The durability of both infrastructure and industrial assets (buildings, bridges, various networks, tanks, conveyors, crushers, lifting facilities, tailings ponds, etc.) is of paramount importance.
Managers must maintain the overall health of their asset inventory. Extending the life of assets allows to postpone direct investments in the most important ones. The financial pressure naturally decreases over time, thanks to the extension of their lifespan.
How does a mining company’s digital transformation contribute to better management of its assets?
The asset management stream of the mining sector’s digital transformation is well under way and very necessary. Whether we consider the issues of productivity, safety, the environment or competitiveness on global markets, several reasons motivate the search for sustainable asset lifecycle management solutions. Fortunately, the accessibility of modern technology performance tools now facilitates their adoption and the achievement of measurable and therefore useful results. This article provides an overview of what digitization represents in an effective asset durability management approach at a mining company.
How can we innovate in railway turntable design?
Turntables have existed since the 1830s, but nowadays they must adapt to brand-new requirements, which we will address in this article. We will also try to answer the question of how to transform them without generating exorbitant costs, while minimizing shutdown times?
What is the strategy for green hydrogen in Quebec?
From November 23 to 25, 2021, was held the 42nd edition of the Québec Mines + Energy Conference organized by the Ministère de l’Énergie et des Ressources naturelles du Québec (MERN). Several conferences featured important players in the Quebec and international energy sector. On the menu: energy transition, decarbonation, electrification, bioenergy and hydrogen. Many participants were intrigued by the comments and analyses on the latter, as hydrogen is on everyone’s lips these days.