12 Most Important Mining KPIs


The top KPIs in the mining industry serve as critical indicators of performance, efficiency, and sustainability. They enable mining companies to monitor and optimize the productivity of their operations by measuring key aspects such as operational throughput, equipment utilization, and ore recovery rates.

Safety is of paramount importance in the mining sector, and KPIs help track safety incidents and compliance with regulations, which is essential for the well-being of workers and the longevity of mining operations.

This article showcases the Most Critical 12 KPIs for Mining and Associated Benchmarks.

1. Lost Time Injury Frequency Rate (LTIFR)

Lost Time Injury Frequency Rate (LTIFR) serves as a critical performance indicator for workplace safety, directly influencing employee well-being and operational efficiency.

High LTIFR values indicate potential safety failures, leading to increased costs and decreased productivity. Conversely, low LTIFR reflects a strong safety culture, which can enhance employee morale and retention.

Organizations that prioritize safety often see improved financial health and reduced insurance premiums. Learn more about the Lost Time Injury Frequency Rate (LTIFR) KPI.

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We have 8 benchmarks for this KPI available in our database.

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What is the standard formula?
(Number of Lost Time Injuries * 1,000,000) / Total Hours Worked


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2. Safety Training Completion Rate

Safety Training Completion Rate is a critical KPI that reflects an organization's commitment to workforce safety and compliance.

High completion rates correlate with reduced workplace incidents, leading to lower insurance costs and improved employee morale. This metric serves as a leading indicator of operational efficiency and risk management.

By tracking this KPI, organizations can identify training gaps and enhance their safety protocols. Learn more about the Safety Training Completion Rate KPI.

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We have 2 benchmarks for this KPI available in our database.

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What is the standard formula?
Total Employees Trained / Total Employees Required to be Trained


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3. Environmental Incidents

Environmental incidents serve as critical indicators of an organization's operational efficiency and risk management capabilities.

They directly influence financial health, regulatory compliance, and corporate reputation. By tracking these incidents, companies can make data-driven decisions that enhance strategic alignment with sustainability goals.

A proactive approach to managing environmental incidents can lead to improved business outcomes and reduced liabilities. Learn more about the Environmental Incidents KPI.

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We have 4 benchmarks for this KPI available in our database.

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What is the standard formula?
Number of Environmental Incidents / Total Operating Hours


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4. Water Usage Efficiency

Water Usage Efficiency is a critical performance indicator that gauges how effectively an organization utilizes water resources.

High efficiency not only reduces operational costs but also enhances sustainability efforts, aligning with corporate social responsibility goals. Companies that excel in this KPI often see improved financial health and stronger brand reputation.

By tracking results and implementing data-driven decision-making, organizations can forecast future water needs and mitigate risks associated with water scarcity. Learn more about the Water Usage Efficiency KPI.

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We have 2 benchmarks for this KPI available in our database.

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5. Asset Utilization

Asset Utilization is a critical KPI that measures how effectively a company uses its assets to generate revenue.

High asset utilization indicates strong operational efficiency, while low values may signal underutilization or inefficiencies that can erode financial health. This KPI directly influences business outcomes such as profitability and return on investment (ROI).

Companies that excel in asset utilization often achieve better cost control and improved cash flow. Learn more about the Asset Utilization KPI.

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We have 1 benchmark for this KPI available in our database.

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6. Production Volume

Production Volume is a critical performance indicator that reflects operational efficiency and overall business health.

It directly influences revenue generation, cost control metrics, and strategic alignment with market demand. High production volumes often correlate with improved ROI metrics, while low volumes can signal inefficiencies or market misalignment.

Companies that effectively track results and benchmark against industry standards can make data-driven decisions to enhance productivity. Learn more about the Production Volume KPI.

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We have 2 benchmarks for this KPI available in our database.

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7. Waste Reduction Rate

Waste Reduction Rate is a critical KPI that gauges the effectiveness of sustainability initiatives within an organization.

It influences key business outcomes such as cost savings, operational efficiency, and brand reputation. By tracking this metric, companies can identify areas for improvement and align their strategies with environmental goals.

A higher waste reduction rate often correlates with enhanced financial health and better resource management. Learn more about the Waste Reduction Rate KPI.

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We have 5 benchmarks for this KPI available in our database.

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8. Cycle Time

Cycle Time is a critical performance indicator that measures the efficiency of operational processes.

It directly influences business outcomes such as customer satisfaction, resource allocation, and overall profitability. A shorter cycle time often correlates with improved operational efficiency, enabling companies to respond swiftly to market demands.

Conversely, prolonged cycle times can lead to increased costs and missed opportunities. Learn more about the Cycle Time KPI.

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We have 1 benchmark for this KPI available in our database.

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9. Time to Market

Time to Market (TTM) is crucial for assessing how quickly a company can deliver products or services to customers.

A shorter TTM often correlates with improved operational efficiency and enhanced customer satisfaction. Companies that excel in TTM can capitalize on market opportunities faster, leading to increased market share and revenue growth.

This KPI directly influences the ability to respond to customer needs and adapt to changing market dynamics. Learn more about the Time to Market KPI.

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We have 7 benchmarks for this KPI available in our database.

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10. Digital Transformation Progress

Digital Transformation Progress is a critical performance indicator that reflects an organization's ability to adapt to technological changes and improve operational efficiency.

This KPI influences business outcomes such as enhanced customer experience, increased revenue growth, and improved financial health. Companies that effectively measure their digital transformation journey can make data-driven decisions that align with strategic goals.

Tracking this metric allows executives to identify areas needing improvement and allocate resources efficiently. Learn more about the Digital Transformation Progress KPI.

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We have 3 benchmarks for this KPI available in our database.

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What is the standard formula?
Number of Digital Initiatives Completed / Total Number of Digital Initiatives Planned


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11. Social License to Operate

Social License to Operate (SLO) is crucial for organizations aiming to align with stakeholder expectations and enhance operational efficiency.

It directly influences business outcomes such as reputation management, regulatory compliance, and community relations. A strong SLO can mitigate risks associated with project delays and community opposition, ultimately improving ROI.

Companies that actively measure and track SLO are better positioned to make data-driven decisions that foster trust and collaboration. Learn more about the Social License to Operate KPI.

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We have 2 benchmarks for this KPI available in our database.

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What is the standard formula?
Total Community Support Metrics / Total Metrics Assessed


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12. Employee Satisfaction Index

Employee Satisfaction Index (ESI) serves as a critical gauge of workforce engagement and morale, influencing retention rates, productivity, and overall organizational performance.

High ESI correlates with improved operational efficiency and lower turnover costs, driving better financial health. Companies with robust employee satisfaction often see enhanced customer experiences, leading to increased revenue.

Tracking this KPI allows organizations to benchmark against industry standards and make data-driven decisions. Learn more about the Employee Satisfaction Index KPI.

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We have 7 benchmarks for this KPI available in our database.

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These 12 Mining KPIs were selected from the KPI Depot database to provide a balanced view of operational, safety, environmental, and digital performance. They integrate leading indicators like Safety Training Completion Rate and Digital Transformation Progress with lagging measures such as Lost Time Injury Frequency Rate (LTIFR) and Production Volume. This set captures both process efficiency and stakeholder impact, ensuring comprehensive coverage of mining operations.

Track Lost Time Injury Frequency Rate (LTIFR) alongside Safety Training Completion Rate to diagnose safety culture effectiveness—rising LTIFR with stagnant training completion signals gaps in training quality or engagement. Monitor Asset Utilization in relation to Production Volume; declining utilization with flat production suggests over-reliance on overtime or equipment strain. Compare Environmental Incidents to Waste Reduction Rate—divergence indicates operational inefficiencies or compliance risks that require targeted interventions.

Prioritize implementing LTIFR, Asset Utilization, and Production Volume first due to their immediate availability and direct link to operational and safety outcomes. These KPIs provide early visibility into workforce safety and asset performance, enabling rapid corrective actions. Follow with Environmental Incidents and Digital Transformation Progress to address sustainability and innovation. The full Mining KPI set, covering more than these 12 metrics, is accessible in the KPI Depot database for deeper analysis and benchmarking.

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Related Best Practices


These best practice documents below are available for individual purchase from Flevy , the largest knowledge base of business frameworks, templates, and financial models available online.


KPI Depot (formerly the Flevy KPI Library) is a comprehensive, fully searchable database of over 20,000+ KPIs and 30,000+ benchmarks. Each KPI is documented with 12 practical attributes that take you from definition to real-world application (definition, business insights, measurement approach, formula, trend analysis, diagnostics, tips, visualization ideas, risk warnings, tools & tech, integration points, and change impact).

KPI categories span every major corporate function and more than 150+ industries, giving executives, analysts, and consultants an instant, plug-and-play reference for building scorecards, dashboards, and data-driven strategies.

Our team is constantly expanding our KPI database and benchmarks database.

Got a question? Email us at support@kpidepot.com.



Each KPI in our knowledge base includes 12 attributes.

KPI Definition

A clear explanation of what the KPI measures

Potential Business Insights

The typical business insights we expect to gain through the tracking of this KPI

Measurement Approach

An outline of the approach or process followed to measure this KPI

Standard Formula

The standard formula organizations use to calculate this KPI

Trend Analysis

Insights into how the KPI tends to evolve over time and what trends could indicate positive or negative performance shifts

Diagnostic Questions

Questions to ask to better understand your current position is for the KPI and how it can improve

Actionable Tips

Practical, actionable tips for improving the KPI, which might involve operational changes, strategic shifts, or tactical actions

Visualization Suggestions

Recommended charts or graphs that best represent the trends and patterns around the KPI for more effective reporting and decision-making

Risk Warnings

Potential risks or warnings signs that could indicate underlying issues that require immediate attention

Tools & Technologies

Suggested tools, technologies, and software that can help in tracking and analyzing the KPI more effectively

Integration Points

How the KPI can be integrated with other business systems and processes for holistic strategic performance management

Change Impact

Explanation of how changes in the KPI can impact other KPIs and what kind of changes can be expected


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