BHP taps Microsoft, AI, to improve recovery at top copper mine
Reuters
Published May 30, 2023 04:04AM ET
Updated May 30, 2023 04:15AM ET
MELBOURNE (Reuters) - BHP Group (NYSE:BHP) has teamed up with Microsoft Corp (NASDAQ:MSFT) to improve copper recovery from its Escondida mine in Chile, the world's biggest copper mine, by using machine learning and artificial intelligence, it said on Tuesday.
BHP estimates the world needs to double the amount of copper produced over the next 30 years to keep pace with the development of decarbonisation technology such as electric vehicles, offshore wind and solar farms.
Finding and building new mines is costly, difficult and can take upwards of a decade so miners are looking to next generation technologies to reap more metal out of existing mines and processes.
"We expect the next big wave in mining to come from the advanced use of digital technologies" BHP Chief Technical Officer Laura Tyler said in the company statement.
Using real-time data from plants that process ore in combination with AI-based recommendations from Microsoft’s Azure platform, plant operators will have the ability to adjust variables that affect ore processing and grade recovery, BHP said.
BHP, the world's biggest miner, is the majority owner of Escondida and operates the mine with partners Rio Tinto (NYSE:RIO), and Japan's JECO Corp. Escondida produced more than 1 million tonnes of copper during the last financial year ending in June.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.