Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
Newmont (TSX: NGT; NYSE: NEM) and Caterpillar have teamed up to deliver a fully connected, automated, zero carbon emitting, end-to-end mining system. Together, they will collaborate to create a safer, more productive mine, and substantially support Newmont in reaching its 2030 greenhouse gas (GHG) emissions reduction targets of more than 30%, with an ultimate goal of being net zero carbon by 2050.
Building pathways to decarbonization is essential for the future of mining. Newmont’s surface and underground mining fleets are responsible for approximately 40% of the company’s carbon emissions. Building a new model for surface and underground mining is critical to delivering on Newmont’s emissions reduction targets.
Newmont will also be supporting Caterpillar’s validation of evolving features and functionality within the MineStar suite to be deployed across Newmont’s surface and underground assets globally. This deployment facilitates centralized production and asset management.
Under the agreement, Newmont plans to provide a preliminary investment of $100 million as the companies set initial automation and electrification goals for surface and underground mining infrastructures and haulage fleets at Newmont’s Cripple Creek and Victor mine in Colorado and the Tanami mine in Northern Territory, Australia.
An automated haulage fleet of up to 16 vehicles at Cripple Creek is planned through 2023, with a transition to haulage fleet electrification and implementation of Caterpillar’s advanced electrification and infrastructure system with delivery of a test fleet in 2026.
At Tanami, Caterpillar will develop its first battery electric zero emissions underground truck to be deployed by 2026. The deployment includes a fleet of up to 10 battery electric underground haul trucks, supported by Caterpillar’s advanced electrification and infrastructure system.
The new alliance sets the stage for the rapid development and deployment of the technologies, ultimately improving safety, productivity and energy efficiency across the mining industry.
(This article first appeared in the Canadian Mining Journal)
