Weekly Wrap 15/12/2023
Harry Finn
Bringing you the confidence of more productive, more profitable and safer mines, globally | Mining Productivity Software | Part Owner & GM at Information Alignment | Founder of Actix | Still a Miner at Heart!
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Glencore Lomas Bayas Autonomous - Komatsu
Glencore has introduced a new fleet of 4 autonomous haul trucks at the Lomas Bayas copper mine in Chile, marking a significant step in their adoption of advanced technology in mining operations.
The mine, known for its open-pit extraction of oxidized minerals and substantial copper production, is now a testing ground for what Glencore terms "mining 4.0".
The initial deployment includes four Komatsu 930E-5 trucks equipped with the FrontRunner system for autonomous operation.
Anglo American's TraxIQ: Revolutionizing Mining and Quarrying Haulage
Anglo American has launched TraxIQ, an innovative venture aimed at transforming the haulage approach in mining and quarrying.
Led by technology experts like Luke Smith and Aljoscha Gleser, TraxIQ is focusing on smart, sustainable solutions to revolutionize the industry.
The venture is not just about autonomous vehicles but reimagining mining with modular components, lightweight materials, and energy-efficient designs.
Anglo American Venture TraxIQ to disrupt haulage approach in mining and quarrying - International Mining (im-mining.com)
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Woodside and Santos Discuss $53 Billion Merger
Australian energy giants Woodside and Santos Ltd are engaged in preliminary talks about a potential $53 billion merger.
This move could mark a significant consolidation in the global oil and gas sector.
Both companies face challenges in their domestic projects, including legal issues and the increasing pressure of decarbonization.
The merger, if realized, would see a combined market value of around $52 billion, with significant production and reserve capacities.
Factbox-Australia's Woodside, Santos in talks for $53 billion oil-gas merger By Reuters (investing.com)
Porgera Gold Mine Ready for Comeback
Barrick Gold Corporation has announced that the Porgera mine in Papua New Guinea is set for a restart, aiming to recommence gold production in early 2024.
This follows the completion of the Porgera Project Commencement Agreement, introducing a new ownership structure. Notably, 51% of the equity in the new Porgera will be held by PNG stakeholders, including local landowners and the Enga provincial government, while the remaining 49% is held by Barrick Niugini Limited.
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Hydrogen-Powered Haulage: GM and Komatsu's Collaboration
General Motors (GM) and Komatsu are teaming up to develop a hydrogen fuel cell power module for Komatsu's 930E electric drive haul truck.
The hydrogen fuel cell technology is a game-changer; it's lightweight, refuels quickly, and can store a lot of energy without reducing the truck's payload capacity. Plus, it's a clean solution, emitting zero tailpipe emissions.
GM's been in the fuel cell game for over 50 years, and this project leverages their expertise. The plan is to test the first prototype HYDROTEC-powered mining vehicle at Komatsu's Arizona Proving Grounds, using more than 2 megawatts of HYDROTEC power cubes.
Microsoft Unveils Groundbreaking 2.7B Parameter Language Model Phi-2
Microsoft's Phi-2 model, with 2.7 billion parameters, demonstrates exceptional reasoning and language understanding, surpassing models up to 25 times its size.
Phi-2 emphasizes high-quality training data and innovative scaling techniques, outperforming larger models in benchmarks and real-world scenarios.
Trained on 1.4 trillion tokens, Phi-2 focuses on safety and claims to exceed open-source models in reducing toxicity and bias.
MinRes send First Road Train for Conversion
Mineral Resources (MinRes) has recently accomplished a significant step in its autonomous road train project by handing over the first custom off-road triple road train to Hexagon AB for autonomous conversion.
Achieved a month ahead of schedule, this marks a major milestone in the development of a fully autonomous fleet.
MinRes hands over first road train to Hexagon for autonomous conversion - International Mining (im-mining.com)
Rising Coal Royalties in Queensland Concern Investors
The Queensland Government's increase in coal royalties has raised major concerns among new investors in the resources sector, as reported by the Queensland Resources Council (QRC).
The increase, significantly higher than initial estimates, could have far-reaching impacts on the industry and the state's economy.
The Queensland Government's royalty tax increase last year has been deemed significantly underestimated in its impact on the resources sector.
Coal royalties are expected to rise by $3.8 billion this financial year, with a total projection of $9.2 billion by June next year.
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That's the week, enjoy and let's do it all again next week!
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Harry Finn