The use of robots in the metal ore mining industry is improving the efficiency and productivity of mines and reduces operational costs. Robotics is significantly increasing the mining capabilities by rolling out autonomous trucks and drills, thus reducing the need for human workforce. Robots are used in some critical mining activities such as drilling, blasting explosives in the mines, and guiding and driving off-highway haul trucks operating in mines. RioTinto has deployed driverless trucks and robotic rock drilling rigs to haul the ore 24 hours a day and reported 15% reduction in operating costs. For instance, BHP Billiton has also rolled out driverless trucks and drills in its iron ore mines.
THE BUSINESS RESEARCH COMPANY EXPECTS THE METAL ORE MINING MARKET TO GROW TO $671 BILLION BY 2021
Asia Pacific was the largest region in the metal ore mining market in 2017, accounting for four-fifth of the market share. This is mainly because most countries in the region have large mineral resources and high demand.
According to The Business Research Company’s Consultant, Nitin Gianchandani, the use of renewable energy is helping mining companies reduce power costs and control emissions in the mines. As the solar or wind projects are built close to the mine sites, the cost of connecting to the power grid is also reduced. Site-appropriate renewable energy sources are reliable, consistent and also economical. BHP Billiton, RioTinto, and Barrick Gold have started implementation of renewable energy sources in their mines. According to a report published by EY, RioTinto aims to generate 10% of 20MW – 25MW mine demand from renewables in one of their mines and expects to reduce its diesel use by approximately 4 million liters and its CO2 emissions by 12,000 tons.
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Rio Tinto was the largest competitor in the metal ore mining market in 2017, with revenues of $16.5 billion for the financial year 2016. Rio Tinto’s growth strategy aims at increasing its iron ore mine production by investing in new mines and also to decrease its costs. In 2016, the company invested $338 million to develop the Silvergrass mine in its Pilbara iron ore operations in Western Australia. It has also reduced capital expenditure from $4.7 billion in 2015 to US$3.0 billion in 2016 and is looking to reduce expenses by $2 billion throughout 2016 and 2017.
Metal ore mining industry primarily covers mining of metallic minerals and development of mine sites. It also includes ore dressing, and other beneficiating operations such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching.
Metal Ore Mining Market Global Briefing 2018 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office, the price is $1500 and $2000 if you wish to use across a multinational company.
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