The company said the industrial internet of things (IIoT) and cloud-tech system offers ongoing surveillance across the construction, operation and closure of TSFs for miners, and it also offers features suited to insurers for technical risk underwriting - a level of TSF assessment not available in mining before now.

Director of mining Alex Pienaar said the new release has taken its core IIoT internet protocol and tailored it to look at long-standing, highly critical challenges of TSF risk and safety.

"[It gives] our mining company customers and the reinsurers and primary insurers who work with them a level of data transparency and actionable information they haven't seen before," he noted.

Specifically, the system features a remote sensing module, offering a dashboard display of TSF performance powered by datasets from the ground and satellites. The TSF monitoring solution also includes a secure application programming interface (API), he said, to provide a unified interface.

These analyses can also be viewed on apps for iOS and Android.

"The aim is to enable further development and customization of tailored TSF insurance pricing models backed by data-driven risk analysis for one or multiple TSFs over their entire lifecycle," Pienaar added of the plug-and-play new release. "This ultimately secures insurability of TSFs in line with an adequate margin-profile for insurers."