Datamine Keen to Promote its MineMarket CTRM Software
Datamine is a vendor that has been focused on mining operations for many years with its MineMarket platform. This week, I spoke with a team from the vendor to find out a little more about it, it’s broader solution, and specifically, it’s CTRM software.
MineMarket can be defined as an ERP solution targeted at mining management and operations that includes functionality across production, onsite processing, transportation and logistics, shipping, contract management and more. It is widely used in the industry around the world. Over the last few years, Datamine has worked in conjunction with IXM to extend Datamine into CTRM, and now also markets the MineMarket CTRM solution both as part of the platform and as a stand-alone software product, I was told. MineMarket CTRM now has a couple of other customers using it and has reached a point where Datamine is actively marketing it as a solution.
The solution is interesting as it originates from the mining side and from an ERP for commodities, or commodity management solution, in MineMarket. It therefore has a unique pedigree and, for the moment, is targeted at concentrates, ores, refined metals and coal accordingly, they told me. “The physical side of the solution is extremely strong and comprehensive,” they told me. “The solution covers trading material and on through the supply chain as well.” Indeed, it covers functions like quality, assay exchange, pricing, complex contracts, charges, optionality and other complexities very well along with futures, options, swaps, spreads for commodities and FX. “Customers appreciate that it is a single integrated solution,” they told me.
The vendor has developed a specific website to support marketing of the CTRM product and are set to launch a broader marketing campaign to educate the industry regarding its availability, they said. For us, Datamine is fulfilling on two trends that ComTech has discussed over the last few years. First, the extension of commodity management into CTRM solutions and secondly, increasing competitiveness in metals solutions generally but in the complex world of concentrates and ores specifically. We will watch with interest to see how things develop and report in more detail on these topics in our Metals CTRM research project due to report later in the year.
