Stakeholders are concerned that the industry is lagging when it comes to a number of factors that have not been a traditional focus of the mining industry.
The goal is to achieve 70% by 2023; to reach the current level of 60% of dry mining, the company has invested US$17.5 billion over the last 10 years.
Schneider Electric's EcoStruxure digital solutions and financing options for the Kami project are both key to the agreement.
Modular Mining conducted a sequence of haulage simulations at the iron ore mine to estimate the productivity gains the mine could potentially achieve by implementing the DISPATCH® Fleet Management System.
Mining makes up 33% of all company profits in Australia, which makes it a significant contributor to government revenues.
The global advisory firm predicts that iron ore prices will rise in 1Q19, before pulling back over the year.
In 2018, Australia’s resources exports – including minerals, metals and petroleum – generated AUS$248 billion in revenue.
Access to the Step 3 area provides greater operational flexibility and access to higher grade iron ore.
The agreement reinforces Rio Tinto’s partnership with Baowu, recognising the significant expertise and knowledge both parties bring to the joint venture.
Fortescue will produce 5 - 10 million t of West Pilbara fines in FY19, further enhancing the company’s range of ores available.