Tag Archives: Copper Mountain

JP Morgan-backed financing paves way for further MineSense growth

Base metals, Environmental, Mining equipment, Mining finance, Mining services, Mining software, Sustainable mining, , , , , , , , , , , ,

MineSense Technologies Ltd says it has closed a $42 million Series E financing led by J.P. Morgan Asset Management’s Sustainable Growth Equity team that, it says, will allow it to accelerate the commercial deployment of its solutions to drive further growth and profitability.

The funding round includes participation from new investor Evok Innovations, a climate technology and sustainability venture fund, and existing investors including Prelude Ventures, BDC Industrial Innovation Venture Fund, Cycle Capital and Chrysalix Venture Capital.

MineSense has been pioneering data-driven solutions that improve ore grade control, operational profitability and carbon intensity across the metals mining industry. It is doing this through a combination of its ShovelSense® and BeltSense® hardware, a digital platform and geoscientific insight that goes beyond purely grade-based orebody information.

ShovelSense provides precise ore/waste definition and unlocks unique, previously inaccessible data sets at the mine’s extraction face, according to the company. This real-time data enables removal of waste from ore and recovers valuable ore from waste by making smart routing decisions that also reduces the amount of waste processed, production of tailings, and energy, water, and reagent consumption. Metal recovery is increased materially, with production from operating mines increasing by 5-25% on existing infrastructure, according to the company.

The company has initially been focused on copper, with those mining companies that have signed up to use its solutions looking to maximise ore recovery, minimise dilution and enhance operational sustainability.

MineSense says it has tripled revenue over the last year, and was recently recognised as one of the fastest growing companies in North America by Deloitte.

It currently currently serves mines across North and South America, with notable deployments in British Columbia (Teck’s Highland Valley Copper, Copper Mountain Mining’s operation and Taseko Mines’ Gibraltar operation), Chile (Carmen de Andacollo) and Peru (Antamina).

The fundraising will allow the company to expand its coverage globally and extend into other critical metals such as nickel, cobalt, zinc and iron, it said.

Jeff More, CEO of MineSense, said: “We are pleased to partner with J.P. Morgan Sustainable Growth Equity and Evok to scale our ore grade data mining solutions. This funding and strategic support will allow us to continue executing on our strategy of delivering profit enhancement, operational efficiency, and carbon intensity reduction to critical mining operations.”

Copper Mountain increases scope of trolley assist haulage project

Base metals, Environmental, Mine operation news, Mining equipment, Mining services, Power supply for mines, Sustainable mining, , , , , , , , , , , , , ,

Copper Mountain’s 2021 ESG Report has highlighted the progress the company has made on its “net-zero journey”, with its ongoing trolley assist project in British Columbia, Canada, one of the key drivers towards hitting its major 2035 goal.

The company operates its namesake mine in BC, which has recently increased throughput to 45,000 t/d as part of this net-zero journey.

Earlier this year, the company commissioned its trolley assist project with the help of Komatsu, SMS, ABB, BC Hydro and CleanBC. This project, the first of its kind in North America and a key plank of Copper Mountain’s goal of achieving net zero GHG emissions by 2035, was designed to support four full-sized, trolley-capable 830E-5 Komatsu trucks at a time with hauling ore up a 1-km section of ramp in the operation’s main pit to its primary crusher.

Since commissioning the project, the company has amended its plan to convert seven trucks to trolley assist operation, now saying a total of 11 trolley-capable Komatsu trucks will be available to use trolley assist in the pit.

Each truck is expected to reduce diesel use by approximately 400 litres per hour, the company says, which equates to approximately 1 t of CO2 emissions.

“The trolley assist system will reduce annual carbon emissions by 30% compared to 2019 levels,” Copper Mountain says. “This is based on calculated savings of 6,000 t CO2e/y for the initial seven trucks as calculated for the trial, which, when scaled to the full fleet of 28 trucks, would produce a savings of 24,000 t CO2e/y, or approximately 30% compared to 2019 levels.”

With additional trolley sections planned over the next five-to-seven years, Copper Mountain says it could see a reduction of carbon emissions of up to 50% compared with 2019 levels.

The fact the Copper Mountain Mine is connected to the BC electricity grid, which has one of the lowest carbon intensities in the world due to being powered by clean and reliable hydroelectric power, makes the trolley assist project even more ‘sustainable’.

The company says it has been working with BC Hydro to upgrade the power supply infrastructure to the Copper Mountain Mine to provide more power for trolley assist and future power demands as it decarbonises and explores additional ways to electrify its operation.

Alongside the trolley assist project, Copper Mountain says it is working with partners to reduce emissions from diesel-powered haul trucks.

In 2021, it established a partnership with Cummins, Komatsu and SMS to test the use of a renewable diesel in haul trucks, and it continues to advance other partnerships to further reduce its greenhouse gas emissions.

Outside of trucks, Copper Mountain said it has targets to electrify its shovels in 2023 and drills in 2024.

Also in 2021, Copper Mountain collaborated with the B.C. Ministry of Energy, Mines and Low Carbon Innovation and IBM to build a digital carbon emissions certification system called Mines Digital Trust. Using blockchain technology to attach ESG disclosures to metal production, this program enabled transparency along the supply chain and allowed third parties to track responsible producers through the Open Climate Network, led by the OpenEarth Foundation and the UN Global Innovation, the company said.

Copper Mountain ups cleaner circuit efficiency, capacity with new flotation reactors

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Copper Mountain Mining says it has successfully installed and commissioned the direct flotation reactors (DFRs) at its Copper Mountain mine, on schedule and on budget.

The installation represents the first stage of the mill expansion project at the operation in British Columbia, Canada, which will bring plant capacity to 45,000 t/d, from 40,000 t/d.

The installation of the Woodgrove DFRs increases the efficiency and the capacity of the current cleaner circuit, which is expected to increase the copper concentrate grade from about 25% to 28%, resulting in lower concentrate transportation, smelting and refining costs, Copper Mountain said.

Gil Clausen, Copper Mountain’s President and CEO, said: “The DFRs have been commissioned and turned over to operations. This is a testament to the great work of our operating and projects team. The DFRs are a low capital, high return project and we are already seeing improved concentrate grades.”

The next stage for the mill expansion project is the installation of the third ball mill, according to Clausen.

“We have the ability to rapidly restart this stage as we have maintained long-lead time expenditures and we also have the flexibility to accelerate the project as necessary,” he said. “With the installation of the third ball mill, we expect production to increase by 15-18% as a result of higher throughput and improved recoveries.”

The Copper Mountain mine, a conventional open pit, truck and shovel operation, is owned 75% by Copper Mountain and 25% by Mitsubishi Materials Corp.

It currently produces, on average, some 90 MIb (40,823 t) of copper equivalent annually, which is expected to increase to 120 MIb/y with the plant expansion.