MANAGEMENT

Alderon strategic partnership with Schneider Electric

Alderon Iron Ore Corp and the Kami Mine LP have signed an MoU with Schneider Electric Canada

Staff reporter
Alderon has signed an MoU with Schneider Electric Canada

Alderon has signed an MoU with Schneider Electric Canada

The MoU provides for the Kami LP to evaluate the lease or purchase of equipment from Schneider Electric for use in the Kami iron ore project, which is located in western Labrador, Canada. The MoU also provides that Schneider Electric will assist the Kami LP in its capital raising efforts by making introductions and facilitating discussions with potential financing sources for the Kami project, including funding from export credit agencies in regions where Schneider Electric manufactures its equipment. This assistance is expected to help the Kami LP raise the capital required to start construction of the Kami project.

Tayfun Eldem, president and CEO of Alderon, said: "We have chosen Schneider Electric because of their vast array of product and service offerings in power and energy management, process control and mine digitisation. The Kami LP will leverage Schneider Electric's sustainable solutions to optimise energy usage and operating costs for the Kami project's mining and processing operations. With this partnership, the Kami LP could reduce capital spending and equipment cost targets from its September 2018 updated feasibility study, tap into a broader range of ECAs, and accelerate the project schedule."

David Willick, Schneider Electric's vice president and mining, metals and minerals segment leader in North America, added: "We are pleased to be a part of the Kami project and look forward to helping Alderon create an efficient and fully digital advanced mine, using our EcoStruxure architecture."

The Kami LP and Schneider Electric need to enter into definitive documentation in order for the transactions set out in the MoU to proceed, including agreements for the purchase of equipment. There is no certainty that the transactions contemplated in the MoU will be concluded.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Magazine Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production