Mining News, November 2022
Here’s a look at some of the biggest stories from the mining industry over the past month, including developments in industrial vehicle power supply, progress at a multi-billion dollar mine in Canada, and the incredible tale of two trapped miners who survived for nine days on coffee powder…
From boxy cars to boxy batteries
Volvo Penta generated a buzz at bauma Munich by unveiling two alternative fuel sources for a variety of industrial engines. The Swedish manufacturer, famous for its boxy estate cars during the 1980s and 90s, claims its cube-shaped battery — that’s already being used in Volvo Trucks — offers a 40% increase in energy density compared to what was previously available. While its dual-fuel hydrogen engine is said to “reduce carbon dioxide (CO2) emissions by up to 80% without impacting power or performance.”
Progress at potash mega-mine
The world’s largest potash mine is a step closer to completion, with excavators having lined two 1000-metre-deep shafts at the $5.7 billion Jansen project in Saskatchewan, Canada. According to BHP, the company responsible, the mine is expected to provide “a rich source of potassium to keep soils fertile and maximise food production.”
Australia leads the way in lithium supply
With governments all over the world working to meet Paris Climate Change Agreement goals, the demand for lithium (used in laptop, phone and EV batteries) “could grow to more than 40 times current levels” according to a BBC report, and Australia is one of the key suppliers. But just how sustainable is lithium mining?
Streaming deals keeping mines afloat
With inflation rising, businesses are increasingly turning to ‘streaming’ deals to fund mining projects, according to mining.com. Streaming “gives lenders the right to buy future production at a discount,” and is a method of financing that’s appealing because “almost all metal prices — both precious and industrial — are down this year on slowdown concerns and dollar strength.”
Trapped miners survive on instant coffee
Two Korean miners trapped in a collapsed mine walked out alive after nine days, having survived on water droplets and 30 packets of instant coffee powder, which also contained sugar and cream. Vice reports that one of the men said: “I feel like I’ve been reborn and am experiencing this world for the first time.”
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