Nordgold told Mining Magazine that the software, called CN Planning Analytics, will address common challenges in the industry such as planning, measuring, monitoring and reporting activities.

CN Planning Analytics aggregates all operating and financial data, giving operators the ability to identify the primary source of any change in performance in a matter of seconds . It also automatically generates a full reporting pack immediately after the period end, and compares company performance with industry best practices and peers.

The tool can also be used to manage capex projects' life cycle, which includes tracking approvals, budget vs actual analysis and post-investment reviews.  It's now available on the IBM Global Solutions Directory.

"What sets CN Planning Analytics apart is its unique focus on gold mining company performance and the fact it is adaptable to all mining and processing technologies. At Nordgold, we continue to invest in our IT capabilities which helps us drive performance, in particular as we move forward on our ambitious growth plans in the Gross region in Russia, where we have built a market leading position," said Dmitry Markeev, Director of Transformation and Business System Development of Nordgold.

The software includes preconfigured budgeting and management reporting models based on industry-specific KPIs. It is designed to work with different types of mining methods including open pit, underground and mixed as well as gold processing technologies (CIL, CIP, heap leaching and BIOX). CN Planning Analytics also allows data from mine planning IT platforms to be integrated into the gold mine's financial models, which, among other things, streamlines and facilitates long-term strategic financial planning.

Andrey Yudaev, Business Development Director for Information and Analytical Systems at Columbus, added:

"Partnering with Nordgold to develop CN Planning Analytics was a unique collaboration that allowed us to combine the practical business experience of a mining company with the industry and product expertise of a consultancy. The solution's functionality has been proven by IBM and by its high performance in automating Nordgold's real-world business processes. These are the prerequisite that help us guarantee the business value of this solution to future users".