Agnico Eagle Mines (TSX, NYSE: AEM) has revealed that the Railveyor system applied at its Goldex mining complicated has decreased carbon emissions by 39% and lowered opex by as much as 75%. This marks a big milestone in Agnico’s journey towards reaching net-zero by 2050.
Situated in Val-d’Or, Quebec, the Goldex mine has confronted challenges with deeper zones and low-grade ore. To handle these, Agnico changed conventional diesel truck haulage with the all-electric Railveyor system in 2017, resulting in transformative outcomes.
Agnico’s research present that the Railveyor system has considerably decreased emissions and confirmed to be cost-effective. A research by NRCan-CanmetMINING confirmed that the system operates inside 6% of its anticipated power utilization, validating its effectivity. The system’s stability and predictable electrical power prices have been significantly helpful in comparison with the fluctuating prices of fossil fuels.