Memex Inc V.OEE.H

Barrick a nd Cisco

[juanito1]

Barrick Gold* (ABX : TSX : $23.18), Net Change: 0.30, % Change: 1.31%, Volume: 4,866,080 Cisco Systems (CSCO : US$31.44), Net Change: 0.59, % Change: 1.91%, Volume: 21,631,885 MAKING MINING GREAT AGAIN! Barrick Gold and Cisco Systems announced they will join forces for a digital reinvention of Barricks mining operations. The companies said the partnership will bring together cutting-edge technology and expertise to unleash the full potential of mining. The goal is to cut costs and squeeze additional value out of existing mines. For example, Barrick expects a flow of real-time data will allow it to predict when equipment is likely to need maintenance and to adjust mine plans quickly as conditions such as prices, weather or ore grades change. According to Barricks Chairman, John Thornton, the partnership will increase cash flow over the long term while reducing environmental impact and increasing transparency with governments. We mean to create value and push the boundaries of our industry in entirely new ways, said Thornton. The mining sector has long complained about the lack of technological innovation in the industry, although some miners such as Dundee Precious Metals (DPM) have started using wireless technology and software platforms to track underground operations in real time. Barrick said the partnership will begin by developing 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.