Week in Review: The Latest and Greatest Stories to Hit the Mining Industry
FEATURE: How Susceptible is the Mining Industry to IT Security Risks?
The last few years has seen an influx in technological advances for the mining industry. Companies like Rio Tinto and BHP Billiton are leveraging innovative equipment such as autonomous vehicles and simulation technology to their advantage. However, the one emerging problem no one is paying attention to is breach of information.
TOP 10: Highest Paying Jobs in the Mining Industry
The mining industry is a labor-intensive profession. It requires long hours, remote locations and some of the most dangerous conditions possible. The financial benefits, however, are astonishing.
UPDATE: Newmont Mining Calls Off Arbitration with Indonesia
Newmont Mining Corp (NYSE:NEM) has called off its arbitration filing with the Indonesian government, signifying a resolution to the seven-month dispute is near.
Company officials confirmed on Tuesday the US-based miner had reached a “constructive solution” over Indonesia’s new mining laws.
[VIDEO] Anglo American: Update on Minas-Rio Project
Anglo American (LSE:AAL) (JSE:ANGLO) has released a visual update on the development of itsMinas-Rio iron ore project in Brazil. The video showcases the progression of the mining operation from November 2013 until July 2014 as well as reveal the current state of construction on the project.
How-To: Optimize Drilling and Blast Effectiveness
In the mining sector, drilling and blasting requires immense knowledge, experience and skill set. It’s an art form that takes years to perfect.
Mining services company Sandvik Mining has launched new software to optimize drilling and blasting, making it easier for miners to streamline the process.
[VIDEO] Time-Lapse: Assembling a Liebherr T 264 Mining Truck
The majority of equipment in the mining industry is massive. In fact, it’s enormous. Mining equipment is typically so big it must be assembled on site in various stages, often taking weeks to construct.
How-To: Combat Unplanned Equipment Downtime
Operations need to run smoothly and economically with little or no downtime to be successful. Unplanned equipment breakdown can often be the most timely, and expensive, setbacks for mining companies.
Adani Group Agrees to Buy Out Linc Energy for $145 Million
India’s Adani Group (NSE: ADANIENT) has agreed to buy Linc Energy’s future revenue rights to the Carmichael coal project for $145 million.
The deal means Linc will walk away from a royalty of $2 per ton of coal over the first 20 years of the production at the mine.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.