Razor Labs Enters Subscription Agreement with SIMEC Mining Following Initial Pilot Phase
SYDNEY, Feb. 18, 2025 /PRNewswire/ -- Razor Labs (TASE: RZR), a leader in AI-driven predictive maintenance solutions, announced today its new subscription agreement with SIMEC Mining, a major industrial and mining operator in South Australia. Building on the promising initial pilot phase, this partnership will see the continued deployment of Razor Labs' DataMind AI™ Predictive Maintenance system across SIMEC's critical assets.
John Stewart, Chief Engineering & Reliability at SIMEC Mining, commented: "The initial stages of implementing DataMind AI™ have shown potential in enhancing our site's operations. By providing early warnings and actionable insights, we aim to prevent equipment failures before they occur, significantly reducing unplanned downtime and maintenance costs. DataMind AI™ also helps us maintain a safer working environment by minimizing the need for manual inspections in hazardous areas. We are optimistic about the continued benefits that this technology will deliver."
Karl Reichenberg, Innovation & Technology Manager at SIMEC Mining
"The Datamind AI platform complements our existing asset management, downtime detection and conditional monitoring systems and seamlessly integrates with our existing historian data. At SIMEC, we aim to promote the use of AI while ensuring we maintain a cyber secured environment within our digital technology landscape. The implementation of the Razor Labs solution is utilizing AI to reduce the time our maintenance staff is manually monitoring and reporting the condition of our critical processing assets and in return extending the lifespan of our equipment."
Tomer Srulevich, Chief Business Officer of Razor Labs, expressed his enthusiasm for the new agreement: "We are pleased to expand our partnership with SIMEC Mining, one of South Australia's leading mining and industrial operators. The early results have been encouraging, and we look forward to continuing to deliver benefits through this subscription agreement. SIMEC Mining's commitment to innovation and failure prevention is impressive and allows for improved processes and a significant impact on safety and reliability in the current market conditions."
About SIMEC Mining
SIMEC Mining operates as part of the global GFG Alliance, specializing in mining and steel production. With a focus on sustainable and innovative practices, SIMEC Mining is committed to enhancing operational efficiency and safety across its operations. The positive early indications from the initial pilot phase have led to the establishment of this comprehensive subscription agreement with Razor Labs.
About Razor Labs
Razor Labs, a leader in the mining tech sector, specializes in predictive maintenance with its flagship product, DataMind AI™. Our Sensor Fusion technology forecasts equipment failures, enhancing operational efficiency and safety. Publicly traded on the Tel Aviv Stock Exchange, we have a strong presence in key mining regions, including Australia and South Africa, where our solutions have driven significant improvements. Discover how our predictive maintenance system can transform your operations by visiting our website and following us on social media.
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SOURCE Razor Labs
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