Reuters: Technology helps miners afloat but prices under water
Newtrax was just recently mentioned in an interesting article published by Reuters, about technology helping miners cut costs and improve productivity to help them weather tough markets:
Gold miners in particular have stepped up technology investment within a falling capex budget, as the gold price in producers’ currencies, such as Australian or Canadian dollars, has held up much better than other commodities.
“I’d say half our clients are gold, which is quite lucky, because gold’s still doing quite well,” said Charlie Forrest, vice president of sales for Quebec-based Newtrax, a private company that makes battery-operated wireless nodes that convey data from underground operations to the surface.
Newtrax has doubled its sales in each of the past two years, and Forrest says it is on track to do so again in 2016, with strong demand for its products in underground hard rock mines.
One client, Glencore’s Kidd copper and zinc mine, says Newtrax’s nodes are relatively inexpensive and easy enough for mine staff, rather than electricians, to install and maintain.
“At this operation, deploying a Wi-Fi system on a similar scale would (otherwise) be a two-month undertaking that would inevitably result in production disruptions and high installation costs,” said Zachary Mayer, Kidd’s manager of mine technical services.