Cost of Production App Now Available to Quarry Operators

Operators in the quarry sector now have a new application (app) to help them calculate costs, price their products, and determine profit margins.

The Quarry Cost of Production (CoP) app was developed by the Ministry of Agriculture, Fisheries and Mining, and is available on the Google Play Store and the Apple App Store.

Addressing Tuesday’s (May 7) Minerals Sector Investment Forum held at the Jamaica Conference Centre in downtown Kingston, Portfolio Minister, Hon. Floyd Green, said Quarry CoP has a user-friendly interface with robust features tailored to the specific needs of the industry.

“We believe that it will help not just established persons but persons who want to go into the quarry sector to make the right decisions from the get-go,” he said.

He further shared that the Ministry’s goal is to utilise technology in as many areas as possible.

“How can we raise the standards of the sector? How can we ensure that the operation is a profitable operation? How can we ensure that you are taking the right things into account in your pricing models?” he asked.

The forum forms part of National Minerals Week, which is being observed under the theme ‘Minerals for a Sustainable Tomorrow: Shaping our Future’.

For his part, Director, Mineral Economics and Development, Denis Miller, noted that most small and medium-sized operators have an idea of their costs and profits, and “this app gives them a structured format where they can put in real data and get the cost of production at the snap of a finger”.

“So, they don’t have to wait until the accountant does the books to see if they are making a profit or not,” he said.

Mr. Miller said that a similar mobile application will be developed for the bauxite industry.