FREMONT, Calif., MELBOURNE, Australia, LONDON and PUNE, India, March 27, 2012 (GLOBE NEWSWIRE) — Rio Tinto, one of the world’s leading mining companies, and iGATE Corporation (Nasdaq:IGTE – News), the first integrated Technology and Operations (iTOPS) company, providing Business Outcomes based solutions under the brand iGATE Patni, today announced an innovation partnership that will exclusively focus on creating next generation technologies and contribute to global growth and development of Rio Tinto’s ‘Mine of the Future(TM)’ program.
Highlights of the Partnership
- First-of-its-kind innovation partnership in the mining industry where Rio Tinto will leverage iGATE Patni’s technical capabilities to accelerate technologies globally in the mining industry
- Rio Tinto expects to spend approximately $60 million – $80 million over the next five years proportional to the outcomes delivered out of this partnership
- iGATE Patni will provide engineering research and development services, including industrial automation and control, software and embedded design and development to Rio Tinto to facilitate the Mine of the Future(TM) program
- The engagement with iGATE Patni will enable Rio Tinto to deliver greater operational efficiency, improved health, safety and environmental performance in the mining industry
- The partnership envisions demonstrating improvements to mining processes that include unprecedented levels in automation, and remote operations that will revolutionize the way mining has been conducted so far
Rio Tinto Innovation Center
- Rio Tinto inaugurated a strategic state-of-the-art Innovation Center in iGATE Patni’s facility in Pune, India
- Managed by iGATE Patni, the Rio Tinto Innovation Centre (RTIC) will play a crucial role in facilitating and leveraging next generation automated technologies for mining operations
- The innovation center will have about 300 skilled engineers focusing on disciplines such as image processing, advanced data mining and analytics, automation and control systems, human factors design and logistics
- RTIC will build on the work of Rio Tinto’s established Centers of Excellence in Australia, Canada and the United Kingdom to deliver the technologies they have developed to Rio Tinto operations across the globe
Rio Tinto head of Innovation John McGagh, Rio Tinto India managing director Nik Senapati, iGATE Patni Chief Executive Officer Phaneesh Murthy and iGATE Patni Executive Vice President and Head of Product Engineering Services Satish Joshi presided over an inauguration ceremony in Pune today to officially open the RTIC.
Phaneesh Murthy said “We are truly delighted that Rio Tinto has chosen iGATE Patni as its exclusive partner for this landmark innovation engagement. I am particularly pleased that our capabilities in product engineering services have gained increased acceptance among global companies to bring about innovation in their business and this partnership is an important step in our journey to deliver high-impact business outcomes.”
“With Rio Tinto and iGATE Patni having invested close to $3 million in the infrastructure for the RTIC, we are geared to partnering with Rio Tinto in achieving its vision of providing unprecedented automation in mining,” he added.
Mr. McGagh said “Launching this centre with iGATE Patni marks an important step in the rollout of our Mine of the FutureTM program and will help create business value in the mining industry. This is ‘technical capability in-sourcing’ through partnership and will enable us to move our innovations from concept stage to reality more efficiently through the work of a dedicated team of specialised engineers. iGATE Patni’s credentials and business capability fits our need for a strong outcomes-driven innovation partner.
“RTIC will allow us to take a specific technology developed at our Centres of Excellence, such as the mine automation system currently in use at our Pilbara iron ore operations in Western Australia, and adapt it for broader application across our network of mines,” he added.
Satish Joshi said “We are very excited about the opportunity to partner with Rio Tinto on the development of the next generation mining technology. Technology being the key to realise Rio Tinto’s vision of enabling safe, productive and environment-friendly mining, we are eager to cross-leverage our experience in engineering and technology deployment across diverse fields such as industrial automation, logistics, imaging and human factors designs.”
Dr. Senapati said “Rio Tinto’s relationship with India extends back more than half a century and will be increasingly important to our business. Our enduring relationship with India will be strengthened through our collaboration with iGATE Patni. This partnership is further demonstration of our long-term commitment to India and represents a great opportunity to provide world-class intellectual and technological capacity for the mining sector in India.”
About Mine of the FutureTM
Launched in 2008, Rio Tinto’s Mine of the FutureTM program introduces next-generation technologies for mining operations that aim to reduce costs, increase efficiency and improve health, safety and environmental performance.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Rio Tinto’s business is finding, mining, and processing mineral resources. Major products are aluminum, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
About iGATE Patni
‘iGATE Patni’ is the common brand identity of two organizations — iGATE Corporation and Patni Computer Systems Limited (Patni). With iGATE having acquired a majority stake in Patni, the two companies, under the common brand iGATE Patni, jointly provide full-spectrum consulting, technology and business process outsourcing, and product engineering services on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS (Integrated Technology and Operations) platform, iGATE Patni’s multi-location global organization with a talent pool of 27,000+ people, consistently delivers effective solutions to over 360 Fortune 1000 clients spanning across verticals like: banking financial services; insurance healthcare; life sciences; manufacturing, retail, distribution logistics; media, entertainment leisure travel; communication, energy utilities; public sector; and independent software vendors. Visit: http://www.igatepatni.com.
iGATE Corporation is listed on NASDAQ (IGTE), and Patni Computer Systems Limited on the Bombay Stock Exchange (532517), the National Stock Exchange of India (PATNI) and NYSE (PTI).