For mining industry in North America only, the potential savings could reach up to US$29 million from the impact of using the correct lubricant for machinery.
A recent industrial research found that 96% of mining companies experiencing unplanned equipment shutdowns in the last 3 years. with half of the acknowledging this due the incorrect management & selection of their lubricants. This is having a direct financial impact, at a time when cost competitiveness is a priority for mining companies.
Renée Power, the Shell Global Sector Manager for Mining, said; “40percent of the companies we surveyed estimated that they had incurred costs of at least $250,000 over the last 3 years from breakdowns due to ineffective lubrication. This shows potential for companies to achieve a significant boost to profits by working closely with a supplier like Shell Lubricants to improve equipment lubrication practices.”
However, with maintenance managers facing budget and time constraints, and only 34percent of businesses making use of regular visits from their lubricant supplier’s technical staff, most are not well equipped to take action. The study revealed that only 41percent of companies have all the recommended procedures in place to manage lubricants effectively and 59percent recognise they don’t conduct staff training on lubricants as regularly as they should. Misconceptions about lubricants are also evident, with 44percent believing that all lubricants and greases provide the same level of performance.
“We are very aware that companies are under pressure to limit costs and often looking for immediate results. Achieving extended oil drain intervals, for example, is one way that customers can realise cost savings almost as soon as they upgrade their lubrication. As the oil or grease lasts longer, less frequent re-greasing or oil changes are required, helping reduce overall cost of lubrication.”
Read the complete report here
