by ralfy » Mon 13 Nov 2017, 21:11:31
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')That 70 percent figure is only true today because diesel fuel is cheap and plentiful today. When supply and prices change the economics of mining will change right along with it. Electric powered conveyor belts set up in series can transport material the same distance heavy mine trucks can without using a drop of diesel.
Conveyor belts have been used in mining for years, especially with mines that are too deep. But if there are problems with electrical supply, diesel generators and other means have to be used to provide enough power. The same applies for other equipment.
As diminishing returns kick in, even more power will be needed for fewer minerals extracted, and of lower quality.
Ultimately, the economics of mining will change, but not in the way most imagine. The same will apply to the global economy.