Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
ATLANTA, Ga.—Surface mine operators are finding it harder to deliver the same amount of minerals in the same time with existing technologies. The ore being uncovered has lower concentrations of minerals as existing sites become more mature. As a result, mining companies are increasingly under pressure to find more energy efficient and reliable solutions.
GE Energy (NYSE: GE) is introducing a new alternating current (AC) excavator solution which consists of drives, controls and motors designed specifically for challenging surface mine applications and environments. GE has a long history of designing, installing and maintaining direct current excavator systems across the globe.
“Mining owners and operators are migrating to AC systems in general,” said Nimesh Sharan, GE’s senior product manager for motors. “AC excavator systems are more energy efficient, and because they utilize less mechanical parts, AC systems tend to require less personal care and maintenance.”
The AC Excavator Solution is a complete electrical drive solution comprised of a family of AC motors, drives, controls, engineering and field services. Heavy equipment original equipment manufacturers and earth-moving equipment owners can apply this solution in their draglines, shovels and blast-hole drills. Mining operators look to uptime and cycle time as two measurements that provide the most meaningful indication of lower cost per material ton moved ($/MTM). GE AC excavator solutions, based on an advanced AC drive, control and motor system technology, will help deliver the reliability and productivity necessary to help mining operators meet their goals.
“Our solution offering is truly unique in the industry,” said Justin Forbes, GE’s senior marketing manager for motors. “GE’s end-to-end solution includes up-front application engineering, rugged, field-tested equipment and field engineering support for installations.”
Understanding the challenges of mining deeper and in more remote locations brought about by increased demand for minerals, GE Energy created GE Mining Solutions to collaboratively develop with clients the technologies needed to continue their success. GE Mining Solutions is part of GE Global Industries, GE Energy’s new cross-business that takes the best technologies from across GE Energy’s diverse portfolio and interconnects them to increase efficiency and results for customers in critical business sectors such as food and beverage, metals, mining, petrochemicals and unconventional fuels.
See full press release here.
