Extending the life of assets as a strategy to reduce the carbon footprint

Intelligent and sustainable asset life extension is gaining popularity in the mining and metals industry. The implementation of a strategy in this sense allows assets to perform their functions under known conditions and to achieve a lifespan longer than that anticipated at the time of design. Decisions to extend the life of an asset are generally based on technical and economic data. The resulting analyses must demonstrate that the asset is safe and reliable in order to keep it in service beyond its expected lifespan. Extending the lifespan, taking into account the associated risks, makes it possible to minimize its carbon footprint by amortizing the GHGs emitted during its manufacture over a longer period of time.

To do this, companies have every advantage in adopting intervention plans that integrate equipment and infrastructure failure mechanisms, degradation and lifespan models, as well as the data necessary to continuously assess the health status and climate performance of the asset.

For example, the sustainability experts at Norda Stelo, an engineering firm, have been supporting a metallurgical processing plant in the intelligent management of its critical assets for more than 10 years, which has made it possible to extend the life of its assets by an average of 20% (Figure 1). This gain in longevity makes it possible to space out the renewal of equipment and, thus, to avoid the GHG emissions associated with the manufacture of new equipment. The approach used integrates maintenance, inspection or condition monitoring activities, reconditioning, and any external elements that could affect the costs of extending life. In reality, 37% of the GHG emissions associated with the replacement of the assets in this factory will be avoided over 60 years (Figure 2). According to the estimate of Norda Stelo experts, the complete replacement of twenty pieces of equipment can emit more than 1,100 tons of CO₂ equivalent. This estimate includes emissions related to the production of raw materials, transportation, manufacturing and installation of equipment. It is therefore obvious that rehabilitating an asset should be considered an effective strategy to minimize total costs and carbon footprint.

In order to extend the life of assets intelligently, it is becoming imperative to collect, centralize and structure relevant quantitative and qualitative data in order to make greater use of them. A data management and strategic planning platform like Stelar allows accurate and continuous calculation of the health status, climate performance and end of life of the asset. With this support, businesses will be in a position to make quick, effective and well-documented decisions. They will offer a convincing solution during ESG audits, financing requests and carbon credit applications.