Mining vs AI: What’s wrong with this picture?
As the saying from mid-19th century California goes, during a gold rush the easiest way to get rich is selling shovels and picks.
Mining Weekly Online quotes Karnalyte Resources CEO Robin Phinney as saying that its Wynyard project in Saskatchewan has enough resources to eventually produce 6m tons of potash a year and that the company is considering bringing in joint venture partners to do so.
Karnalyte initially expects to ramp up production by 500,000 tons per year to reach 2m tons by 2016/2017 at a cost of $1.5bn. The company on Friday was trading at $11, up 42% since it debut on the TSX mid-December last year.
“Phinney said Karnalyte’s proposed solution-mining method carries a lower capital and operating cost than traditional mining methods, and can be brought into production quicker too.”
