Weir has entered into a binding agreement to acquire Brazil-headquartered Fast2 Mine Tecnologia e Desenvolvimento de Sistemas Ltda. Fast2Mine is a software provider to the mining industry, with a focus on mine management solutions (MMS) and is particularly known for its Mining Control fleet management system (FMS). The acquisition Weir said complements Micromine’s existing suite of mine planning and mine control software.
Fast2Mine to date has been led in strategy and development by CEO and Founder Eder Griebeler. It told IM earlier this year: “Over the last two years, the company has been expanding its operations and conquering strategic markets such as Australia, the United States, South Africa and Mexico, driving the digitalisation of mining at a global level. In Latin America, the company is the market leader in FMS in mining operations belonging to Tier 1 and Tier 2 large and medium mines.”
It added: “Currently, its operational management and mine optimisation system, Mining Control, manages more than 80 operations around the world, monitoring more than 6,000 pieces of equipment and interacting daily with more than 20,000 users. Its clients include major global players such as Kinross, Norsk Hydro, Equinox, Alcoa, Ero Copper, Ravenswood Gold and Aura Minerals, which rely on Fast2Mine’s technology to increase operational efficiency, productivity and reduce unit and absolute costs.”
Fast2Mine said its differential lies in the development of solutions that combine artificial intelligence, automation and mobility to increase efficiency and reduce operating costs. The most recent innovations include optimised dynamic allocation which automatically allocates and optimises equipment distribution to maximise operational efficiency in real time.
MineVERSE is described as a game-changer system for mining operational management, bringing control of the mine operation into the palm of the hand of everyone involved in the field, enabling proactive analysis, task management and agile communication.
Mining Control BI is an advanced, customisable data analysis and AI platform for strategic decision-making. And Dynamic Pro automates cycle data collection and automated database management, reducing manual intervention by operators and increasing the reliability of information.
Weir comments: “Fast2Mine is a Brazil-based mining software provider offering a contemporary MMS. Its technology helps miners with material management, mine optimisation, short-interval control, fleet management, and select asset health diagnostics. Fast2Mine’s robust platform is offered as a SaaS solution comprising of four modules designed around a modern, web-native interface that prioritises ease of use while delivering advanced reporting functionality. The platform currently services 84 mines across multiple commodities and countries, such as Brazil, Chile, Argentina, Mexico, Guyana, and Liberia.”
It adds: “Fast2Mine’s MMS platform is highly complementary to Weir’s growing software portfolio, joining Micromine’s software suite to provide comprehensive mine management solutions for both open-pit and underground mining operations. The acquisition will accelerate Weir’s strategy to provide leading software solutions to the mining industry.”
Jon Stanton, Chief Executive Officer said: “The acquisition of Fast2Mine will accelerate our expansion into the South American mining software market, providing a strong and immediate presence in Brazil, home to some of the world’s largest mineral deposits. Fast2Mine’s software platform is a highly complementary addition to Weir’s mining software suite, including meaningful synergies with Micrormine’s Alastri open pit mine planning solution and adjacency with Micromine’s Pitram underground fleet management solution. We are looking forward to welcoming Fast2Mine to Weir and are excited by the opportunity to further accelerate our vision for digitally enabled mine optimisation.”
