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New technology, automation to help miners survive commodity prices rout

Scorpio

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New technology, automation to help miners survive commodity prices rout
Cecilia Jamasmie | 2 days ago | 2594 | 0



Autonomous Haulage System trucks at the West Angelas mine, Western Australia. (Image courtesy of Rio Tinto)
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.

http://www.mining.com/new-technology-automation-to-help-miners-survive-commodity-prices-rout/
 

ErrosionOfAccord

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I gave you a like but I hate it. Might be time to put the house on the market and make an exit, as this will crush the local economy.
 
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Scorpio

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you said it EA,

trying to make high priced labor obsolete,

corporations doing what they do