The business arm will operate in the US and South Africa and will be part of Matrix's South African location in Johannesburg.

Matrix officials said Matrix Analytics Group will use a model-based approach to provide clients with diverse insights into business and operations, and will facilitate discussions that are aligned to a customer's strategic goals. To do that, it will combine its expertise with modern data analytic techniques and offer its expert input based on data and numerical modeling.

Its hope is that it will be able to assist in driving meaningful enhancements to a company's decision-making process, president David Clardy said.

"In today's competitive mining environment, efficiency is key. Matrix Analytics complements our mission to help mines operate more safely and productively through the most effective use of resources."

While he did not confirm a timeline for the opening of the division, he stressed that Matrix Analytics will be spotlighting its ability to utilise a mine's data for key correlations and insights.

"A mine's data is an often-underutilised trove of information that can dramatically improve operations," Matrix Analytics director Stephen Redford added. "We want to provide a means for mines to tap it for key, and sometimes critical, insights."

Headquartered in Newburgh, Indiana, US, Matrix has offices in Lexington, Kentucky; Johannesburg, South Africa; and service locations throughout its mining regions. It is owned by coal mining operator Alliance Resources.