Why Spreadsheets Are Failing Mining Companies in Capital Planning

High-Stakes Capital, Outdated Tools

Mining is one of the most capital-intensive industries on the planet. From exploration and expansion to environmental compliance and infrastructure upgrades, companies routinely manage hundreds of millions in capital investment using various capex software solutions for mining.

Yet, despite the scale and risk, most capital planning still relies on outdated tools using spreadsheets, email chains, and disconnected systems. It’s no wonder that 83% of mining megaprojects run over budget, and nearly a third miss delivery targets.

For CFOs and finance leaders tasked with managing risk, ensuring compliance, and delivering returns – this is no longer sustainable.

The Problem with Traditional CapEx Planning

Spreadsheets might be familiar, but they’re not built for enterprise-grade capital planning. Especially not in a sector where project timelines span years, market conditions shift rapidly, and governance requirements keep tightening.

Here’s where traditional CapEx processes fall short:

• Manual workflows: Email approvals and Excel trackers slow down decisions and introduce human error.
• Siloed systems: Engineering, operations, and finance often operate on separate platforms, creating fractured views of performance.
• No real-time oversight: By the time a problem shows up in a report, it’s already a cost overrun.

Stat to Know:
According to McKinsey, less than 20% of mining megaprojects meet their original budget and timeline.

Legacy tools might keep a project moving, but they make it nearly impossible to optimize, course-correct, or scale CapEx performance across the enterprise in mining using modern capex solutions.

What High-Performing Mining Firms Are Doing Differently

Leading companies in the mining sector are rethinking capital management, starting with how they plan, track, and govern their CapEx portfolios with modern capex software specifically tailored for mining.

One example: Macmahon Holdings, a major mining contractor, replaced its spreadsheet-based approval process with a digital CapEx platform. The result? Streamlined approvals, accurate forecasting, and faster time-to-decision – all within a system that connects finance, operations, and procurement.

Another diversified mining group used capital planning software to review its global project pipeline. Within one budgeting cycle, they eliminated 32% of risk-prone projects and reprioritized 47% of investments to better align with strategic objectives in their capex software.

These companies didn’t just digitize — they transformed how they manage capital in the mining industry.

4 Ways Digital CapEx Platforms Deliver Strategic Value

A dedicated CapEx platform gives finance teams more than just workflow automation, it enables smarter capital decisions. Here’s how:

1. Real-Time Forecasting and Cost Control

Live dashboards allow you to monitor project spend vs. budget, detect variances early, and make timely adjustments in your mining capex software. No more waiting on static reports.

2. Governance and Audit Readiness

Automated approval chains, role-based access, and audit logs ensure compliance across every project without the spreadsheet sprawl.

3. Portfolio Optimization

Scenario modeling and performance metrics help leaders prioritize high-value initiatives and defer or cancel underperforming projects using capex optimization software designed for mining operations.

4. Cross-Functional Collaboration

Finance, engineering, operations, and HSE can all work from the same source of truth, improving transparency and accountability with capex software integration in mining.

“When your CapEx process is buried in spreadsheets, you’re building strategy on quicksand.”
— Mining Executive, Anonymous Case Study

Ready to See How Leading Mining Companies Are Fixing CapEx?

If your organization is still relying on spreadsheets and disconnected tools to manage multi-million-dollar investments, now’s the time to re-evaluate.

Today’s mining leaders are using purpose-built CapEx platforms to:

• Eliminate cost overruns and delays
• Prioritize high-impact capital projects
• Build audit-ready workflows
• Bridge the gap between finance, engineering, and operations

CapEx360® is designed for asset-heavy industries like mining — with built-in visibility, governance, and forecasting tools to help you manage every step of the CapEx lifecycle.

Want to see how it works? Book a personalized demo tailored to mining teams.