Rio Tinto Share Price Expands Due to Site Productivity

Rio Tinto [ASX:RIO] have grown by 1.25% this morning, and are currently valued at $82.81

The mining giant isn’t shying away from expanding its operations and increasing productivity across all sites.

Its iron ore mines located in Western Australia, are now set to undergo an increase of production resources and drilling enhancements.

Doubling its usage of automatous drills

Resources are in an abundance at its Pilbara mine. As a result, Rio are focusing on increased productivity across their iron operations.

They plan to double the overall number of autonomous drills at its Pilbara mines.

Currently driverless trucks haul over a quarter of ore and material waste. The new drills will be equipped with autonomous drilling technology, which have already been deployed at Rio’s other mines in Perth. Doubling the drilling increases productivity because the machines’ operating hours are extended, which in turn expands the amount of metres the drill attains.

Another nine drills will be deployed across the sites by the end of the year, which will bring their fleet to 20 overall.

Mining.com reported that Rio Tinto’s Managing Director Kellie Parker stated:

The deployment of additional rigs, operated from our operations centre in Perth, offers significant advantages as part of our integrated system, which optimizes our autonomous trains, trucks and drills and provides increased operability and flexibility.

The expansion of Rio’s autonomous drills will increase production gains, while also enabling Rio to drill at a safer rate.

Regards,

Ryan Clarkson-Ledward,
For Markets & Money

PS: 2018 Mining Boom: Could these 10 cheap, top-quality Aussie mining stocks lead this year’s commodities comeback? Find out here


Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:


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