Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
When the worst collapse of commodity prices in nearly two decades finally ends, mining companies left standing probably will have more robots on their side.
Automated drills and driver-less trucks are among the new technology already employed by some of top mining companies, including BHP Billiton (ASX:BHP) and Rio Tinto (LON:RIO). But a new study by BMI Research says that miners, big and small, are set to focus their spending on innovation through the use of technology and automation as a way of improving efficiency and boosting output at existing operations.
The shift, say the analysts, will follow miners’ strategy of retrenchment and divestment of high-cost assets, aimed at reducing costs and improving their balance sheets.
BMI research predicts that while weak metal prices will continue forcing miners to take drastic measures, spending will begin to focus on four key areas of innovation — human and external interface; IoT platforms & processors; communication & controllers; and equipment.
While some job loses will inevitably come with the incorporation of more technology, some believe the change is positive, as it can create more interesting positions while making lower-skilled posts obsolete.
Comments
Philip S. Baker
It is agreed that as a survival response to sagging commodities prices, miners are placing renewed emphasis on automating their production processes. The irresistible question is: will this new wave of automation be sufficient? Here is why it might not be:http://www.jamaicaobserver.com/business/How-asteroid-mining-can-effect-the-global-base-metals-market_51881 | Jamaican News Online – JamaicaObserver.com.