Fuel fraud is a serious problem in mining. But it’s not one we talk about enough.
Fuel gets lost: through siphoning, incorrect calculations, and misuse of fuel cards. It seems impossible to track it all.
However, there’s a solution, and it’s backed by blockchain technology.
The solution for fuel fraud
There are three major problems when it comes to fuel loss in mining:
- How much fuel is being lost?
- Where is the fuel going?
- How can we calculate the fuel loss?
The issue is that, a lot of the time, it’s difficult to pinpoint the answer to even one of these questions. That is because systems of fuel tracking are largely insufficient. Mining companies are often expansive, and lack the ability to reliably monitor smaller expenses such as fuel. However, these costs mount up in the long run.
The good news?
To solve fuel fraud, you don’t have to upturn your entire business, abandon your current processes and implement an entirely new system.
Our platform – STAMP Fuel™ – integrates seamlessly with your pre-existing management systems.
STAMP Fuel™
STAMP Fuel™ is not designed to replace your current fuel processes. It’s a fuel tracking program.
STAMP Fuel™ tracks your fuel usage, highlights anomalies and ensures that your data is accurate. It does this by measuring financial and usage information against mileage and ensuring that any deviations or abnormalities are justified or minor and can be investigated.
Fuel tracking does not need to be a confronting, expensive process. The platform is for any industry, but it is especially suited to mining, given that the mining sector is especially vulnerable to fuel fraud.
What sort of data does it analyse?
STAMP Fuel™ accumulates from a variety of sources and identifies potential present and future issues. It takes data from:
- Fuel cards/expenses
- Fuel bowsers
- Input data
Through this, STAMP can identify abnormalities and remedy issues. Data is compliant, secure and easily consumable. This also optimises your auditability.
STAMP Fuel™ is blockchain-enabled, which makes the data permanent and secure. This also means that it is decentralised, so that the data can be accessed from anywhere, by anybody who has permissions in the network.
Are you interested in STAMP Fuel™? Click here to download our eBook. To find out more, send us a message here.