Robotics To Improve Efficiency And Reduce Operation Costs In Vanadium Mining!


Posted November 12, 2018 by tbrcabdul

The global vanadium market was valued at $2.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $2.1 billion or 77.8% of the global market.
 
The use of robots in the vanadium 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. For instance, 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.

THE BUSINESS RESEARCH COMPANY VALUED THE VANADIUM MARKET AT $3 BILLION IN 2017

Asia Pacific was the largest geographic region in the market, accounting for four-fifth of the global market share.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, the construction sector is the biggest customer of steel items and vanadium. Vanadium is widely utilized as a part of amalgams for fortifying steel utilized as a part of building and scaffolds. It encourages quality in strengthening bars utilized as a part of structures, passages, and extensions. Vanadium is added to steel bars, solid structure, and suspension ropes. In North America, moved vanadium steel areas are utilized broadly in edges and tops of modern structures.

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Atlantic Ltd was the largest company in the global vanadium market. Atlantic’s strategy is to complete an optimization study for the Windimurra project and then implement the results of that study to restart production. The optimization study will leverage the world-scale vanadium resources at Windimurra, in addition to Atlantic's knowledge and experience of the project, the significant investment made to date in the plant and infrastructure at Windimurra and Atlantic's strong financing capability with the support of its shareholder.

The vanadium industry comprises organizations engaged in developing the mine site, mining, and/or beneficiating vanadium ores.

Vanadium Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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Last Updated November 12, 2018