Atlas Salt, a Canadian mining developer, is digging into Oracle’s project and financial management solutions to support the development of its Great Atlantic Salt deposit.
The Atlantic Salt project, North America’s first new salt mine in nearly three decades, in partnership with Oracle aims to enhance project management, streamline financial operations and accelerate the development of its Great Atlantic Salt deposit.
Atlas Salt has already integrated Oracle Aconex, Oracle Primavera Cloud and Oracle NetSuite into its operations in a bid to improve collaboration, manage costs and address potential delays in equipment procurement, such as mining machinery and transformers.
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The company expects these efficiencies to save millions of dollars and reduce the project timeline by several months, based on its feasibility study released in May, 2024.
Mark Webster, senior vice president and general manager of Oracle Construction and Engineering, explained that by integrating project budgets, schedules and workflows into one system, Atlas Salt can now “better manage complex project dynamics and make real-time adjustments to work plans and financial forecasts”.
“Oracle’s solutions bring teams together and enable Atlas Salt to present more robust and transparent financial models to potential investors, strengthening its position to secure funding and ensure long-term project success,” he added.
Additionally, Oracle NetSuite’s ERP system will enhance business visibility, simplify procurement and support corporate budgeting.
The integrated Oracle platform is expected to provide Atlas Salt with greater operational visibility and accountability, helping stakeholder engagement, including with regulatory bodies and local communities. Real-time tracking and financial forecasting capabilities will help the company manage cash flow and maintain the financial discipline needed to attract potential investors and lenders.
Atlas Salt’s adoption of Oracle’s cloud solutions highlights the company’s commitment to innovation and operational excellence as it works toward bringing the Great Atlantic Salt deposit into production.
Andrew Smith, professional engineer and mine project manager of Atlas Salt, attested that Oracle’s project and financial management solutions have provided the team with “a reliable and secure technology backbone that is helping transform how our teams collaborate and communicate”.
“By providing a single source of truth for our data, including drawings, approvals and documents, we can quickly incorporate feedback from in-field contractors into our project schedules, helping us stay agile and proactive in addressing any scheduling issues or risks.
“We anticipate that the collaborative tools and methodologies provided by these solutions will result in significant time and cost savings that set us up to achieve our goal to deliver the Great Atlantic Salt project as Canada’s next salt mine,” Smith said.
What it means for ERP Insiders
Atlas Salt is leveraging Oracle’s cloud-based project and financial management solutions to drive efficiency and transparency in developing the Great Atlantic Salt deposit. With a focus on innovation, the company integrates advanced tools to improve project workflows, financial operations and investor confidence.
Key Highlights:
- Integrated Solutions for Enhanced Efficiency:
Atlas Salt employs Oracle Aconex, Oracle Primavera Cloud and Oracle NetSuite to centralize project management, streamline procurement and optimize financial tracking. - Cost and Time Savings:
Leveraging Oracle’s tools is projected to save millions of dollars and reduce project timelines by several months, aligning with findings from the May 2024 feasibility study. - Improved Collaboration and Decision-Making:
Real-time data access and forecasting capabilities enable agile responses to project challenges, helping the team manage cash flow and adjust work plans effectively. - Boosting Stakeholder Confidence:
Oracle’s platforms enhance transparency and accountability, supporting Atlas Salt’s engagement with investors, regulatory bodies and local communities.
Atlas Salt’s strategic partnership with Oracle emphasizes its commitment to operational excellence and innovation, positioning the Great Atlantic Salt project as a model of efficiency and collaboration in the mining sector.
