MachineMax has launched a new online Savings Calculator that, it says, will help mining companies save millions by cutting back on idling costs.

The tool, which takes just two minutes to complete, according to the global provider of software solutions, is based on data that considers the types of machines users are looking to save money on, fleet size and the hourly rate of an operator to calculate the figure.

The cost assumptions are modelled based on data collected from customers or industry standards, it said.

For instance, companies could save up to £1 million/y ($1,282,153) if they have around 27 heavy equipment machines idling for 1,000 hours PA where idling costs are estimated at £38,000 each, the company said.

MachineMax’s savings calculator also has an advanced savings option, giving users more accurate results based on actual site costs including maintenance and fuel.

Jennifer Thomson, Business Strategy Manager at MachineMax, said: “This calculator is an excellent tool to highlight how much a company can save by decreasing equipment idle time. On a mine site, some idle time cannot be completely avoided however it may be an indicator of an underlying bottleneck or process inefficiencies which can be resolved. Either way, equipment tends to be idle more than necessary.”

Idle time results in unnecessary direct operating costs as the machine is still running, consuming fuel, contributing towards emissions all while under the control of the operator, Thomson said. All of this has an associated cost.

She added: “There are also indirect operating costs associated to idling, as the engine is running there is unnecessary wear on components, hourly based maintenance occurs more frequently than necessary including premature filter and fluid changes and warranty hours are used over a shorter period.

“Furthermore, if the machine is idling then by implication it is not being productive so there is an opportunity cost to missing out on revenue from missed production.”

The calculator is looking to highlight the direct and indirect cost savings from cutting down idle time, she concluded.