13 Sep Barrick Gold aims to improve mining productivity with Cisco partnership
The world’s largest gold producer, Barrick Gold (NYSE:ABX) has announced it will partner with tech-company Cisco (NASDAQ:CSCO) to integrate digital technology in all aspects of its mining business.
Barrick said it would work with Cisco to first create a flagship digital operation at its Cortez gold mine in Nevada, as it aims to boost productivity.
John Thornton, Barrick executive chairman said: “Harnessing the potential of digital technology will unlock value across our business, helping us grow our free cash flow per share.”
Thornton added that the partnership with Cisco will enhance productivity and efficiency at Barrick’s mines and improve decision-making and performance. Interactive data rooms will be set up with real-time data on mining operations.
The company also said the move will help reduce its environmental impact and allow it to be more transparent with indigenous communities, non-governmental organisations and local governments.