Agnico Eagle Mines Limited has revealed its findings on the efficiency and environmental impact of the Railveyor system implemented at its Goldex mining complex in Quebec, Canada, with the whitepaper, published by Railveyor and Agnico Eagle, detailing reduced operational costs, enhanced safety and greenhouse gas emissions reductions as some of the major outcomes of the installation.
Goldex mine, an underground gold operation in Val d’Or, faced logistical challenges due to its deeper zones and low-grade ore. To address these, Agnico Eagle integrated the Railveyor system into its operations in 2017, replacing traditional diesel truck haulage with this advanced all-electric solution. The results have been transformative, according to the whitepaper.
According to the miner’s internal studies, the Railveyor system has achieved up to a 39% reduction in mine-wide emissions compared with diesel trucks, a significant step towards the company’s commitment to achieving net zero by 2050. The system’s energy efficiency was also validated by a study from NRCan-CanmetMINING, confirming that the Railveyor operates within 6% of its expected energy usage. With its low operational costs – reducing operating expenditure by as much as 75% compared with truck haulage – Railveyor has proven itself as a cost-effective, sustainable alternative for material transport in mining, Railveyor says.
Based on CanmetMINING’s calculations, the Goldex Railveyor system requires 0.989 kilowatt-hours to move one tonne of ore one kilometer. Factoring in Quebec’s average electricity price at the time of this publication, the estimated cost is less than $0.07/tonne-km.
Christian Lessard, Maintenance Superintendent at Goldex, said: “Goldex Railveyor has been optimised since 2017, resulting in strong production in recent years. The system integrates the latest technologies like LTE networks and AI, operating in line with theoretical energy consumption models. The stability and predictability of electrical energy costs, as opposed to fossil fuels, further contribute to the overall benefits.”
Tas Mohamed, interim CEO of Railveyor, said: “The success of the Railveyor at Goldex highlights the importance of collaboration between our team and Agnico Eagle Mines. This partnership has demonstrated that Railveyor is not just a viable alternative to traditional methods but a superior one in terms of safety, cost, and environmental impact.”
Charles Gillies, Chairman of Railveyor and Managing Director at Resource Capital Funds (RCF), a global critical minerals and mining alternatives investment firm, added: “We are proud to have supported Railveyor within RCF Innovation II in bringing this innovative technology to market. The positive impact at Goldex underscores the value of investing in sustainable and transformative mining solutions that can help enable the energy transition and meet the mining industry’s challenges today and in the future.”
As the mining industry continues to push towards sustainability, the success of the Railveyor system at Goldex serves as a benchmark for other operations, Railveyor says. “With its ability to reduce emissions, increase safety and lower costs, Railveyor is setting new standards in mining.”