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NewswireTODAY - /newswire/ -
Riyadh, Saudi Arabia, 2018/07/19 - The Saudi Arabian Mining Company (Ma’aden) and GE signed a strategic Memorandum of Understanding to explore opportunities to deploy GE’s industry leading digital solutions across Ma’aden’s diverse mining operations - Maaden.com.sa / GE.com. NYSE: GE
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• GE and the Saudi Arabian Mining Company (Ma’aden) announce a strategic Memorandum of Understanding, aimed at bringing digital transformation to the Saudi mining industry;
• Because Ma’aden’s business model emphasizes integration across the full value chain, the company is well suited to take advantage of increased efficiencies through digital solutions in order to maintain its world leading cost position.
The Saudi Arabian Mining Company (Ma’aden) and GE today signed a strategic Memorandum of Understanding to explore opportunities to deploy GE’s industry leading digital solutions across Ma’aden’s diverse mining operations, including sites focused on gold, copper, aluminum, and phosphate. GE will provide Ma’aden with digital transformation advisory and applications, as well as leadership and training opportunities for Ma’aden’s employees across the Kingdom.
To maintain its world leading competitive position across a number of commodities, Ma’aden (maaden.com.sa) is pursuing a number of partnerships in order to capture the opportunities found in digitization and innovation, and will invest in the application of pioneering technologies in its operations in the Kingdom in order to remain ahead of the competition and reinforce the company as a global mining leader. GE’s digital mining solutions will look at specific areas within Ma’aden including solutions that make adaptations for improving ore grades; reduce fuel and energy costs and usage; improve equipment reliability and availability; reduce maintenance costs; and increase productivity and efficiency across operations.
Darren Davis, Ma’aden Acting President & CEO, said of the partnership,“The Kingdom of Saudi Arabia has high aspirations for the deployment of new technology and the digitization of industrial landscape in the country. Ma’aden is committed to championing the responsible development of the mining sector as a major pillar of the Saudi economy and digitalization, as part of the fourth industrial revolution, will be key to ensuring we achieve our goal of becoming a ‘sustainable mining champion’. This initiative will unlock the next wave of significant value creation and increase our competitiveness and sustainability. Our partnership with GE is an important step and we look forward to working together to develop and utilize new digital solutions for our industry.”
Bill Ruh, President & CEO, GE Digital continued, saying,“We are partnering with organizations across heavy industries around the world to bring digital solutions to their operations. The scale and impact of organizations such as Ma’aden is enormous, and we know that the optimization and increases in efficiency will have a major impact on the company and the country. By working together to develop solutions that are tailored for the sector and environment in which they will operate, we can ensure truly positive outcomes.”
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