Rio saves $200m a year using robots, big data
Rio's already cut $1bn fat in the Pilbara–autonomous vehicles and data analytics will save another $200 million a year on maintenance over the next 3 years.
Frik Els , Editor
Frik has 20 years’ experience as a business journalist across a range of industries including automotive, technology and entertainment markets. Frik has an entry in Global Mining Observer’s Who’s Who of Mining 2018, and contributions to publications and conferences including Business Insider, Investing.com, Mines & Money London and New York, Vancouver Resources Investment, Progressive Mine Forum in Toronto and Canadian Mining Symposium in London, UK. He’s been interviewed on CBC Radio and Korea State TV and quoted in the Financial Post.
Posts by Frik Els:
India’s gold monetization schemes met with skepticism
India's cabinet has launched two gold savings vehicles to to put the 20,000 tonnes of gold held privately to more productive use.
Iron ore price surges to 10-week high
Chinese iron ore futures soar 5% after government pledges to speed up infrastructure spending since some sectors like telecoms are only "30–40% completed".
Gold price: Bears take charge again
The gold price fell nearly 2% on Wednesday, but even near five-year lows the metal is historically overvalued compared to other commodities says new report.
BofA Merrill Lynch: Gold below $1,000 in 2016
"The combination of higher nominal opportunity costs and lack of inflation has hardly ever been bullish in the past 40 years, " says investment bank.
Copper price rallies 6%
Glencore's bold move and huge jump in Chinese concentrate imports light fire under copper price.
World’s top 5 miners lose $540 BILLION market worth
CHART: The commodity slump has slashed major miners' market valuations to 60–88% below 2011 highs.
Mining lawsuit of the century just got a lot uglier
Rio Tinto alleges Vale enlisted Ernst & Young "to cover up and sanitize its conspiracy with BSGR" to strip half of the Simandou iron ore deposit from Rio.
Fission Uranium sees $7 billion Saskatchewan mine
Economic assessment of Triple-R project in the Athabasca basin envisages building $1.1 billion hybrid mine producing more than 100m pounds over 14 years.
Iron ore price extends gains
But summer likely only the "calm before the storm".
Mining’s next boom is off the map: Arctic ice, abyssal plains and asteroids
Depletion, lower ore grades and higher prices pushing miners to new frontiers. The Arctic is already drawing capital, deep-sea mining is moving into a regulatory fight, and space remains the long-dated option.