The Three Cornerstones of Mining: Power, Profitability, and Sustainability
Electric truck conversion is the key to ensuring the three cornerstones of mining: greater economy, power, and sustainability.
The mining industry is at a pivotal crossroads, where operational efficiency is no longer the only benchmark for success. The future of mining is being built upon the three cornerstones of mining: economy, power, and sustainability. This comprehensive approach is essential to tackling the 21st-century challenges that demand not just profitability but also a deep commitment to environmental and social responsibility. In this context, the shift from diesel fleets to 100% electric solutions is emerging as the most viable path to achieving these goals, marking a new era for the sector. We’ll explore the components that define this new paradigm and how NewSteel is leading the way.
The First Cornerstone: Driving Economic Impact
The move to off-highway electric vehicles is more than a technological upgrade; it’s a strategic decision that delivers a significant long-term financial return. In fact, truck conversion allows for an investment payback in as little as 6 months. This is a key aspect of mining profitability: the ROI in electric truck conversion. This remarkable ROI is driven by the drastic reduction in operational costs.
Lower Fuel and Maintenance Costs
For starters, eliminating diesel consumption is a major factor. By removing this expense, companies can achieve budget stability and significantly decrease energy spending. NewSteel’s solution offers a projected saving of up to 70% in energy and fuel costs.
Electric vehicles also require significantly less maintenance than their diesel counterparts. While a combustion truck averages a maintenance cost of $60 USD per hour, a NewSteel electric truck costs just $15 USD per hour. This leads to an impressive 80% reduction in maintenance costs, as thousands of components from combustion engines prone to failure are eliminated. That means less downtime, lower costs for spare parts, and greater equipment availability. An uptime of 90% is maintained for the first three years of operation. The ability to reuse the original truck chassis also lowers the initial investment, making conversion a more cost-effective and sustainable alternative to buying new vehicles. To fully understand how these changes drive profitability, learn how electric fleets in mining boost profitability.
The Second Cornerstone: Unleashing Power and Productivity
A common concern when considering electrification is whether performance will be compromised. The answer is a definitive no. Electric trucks not only match but often exceed the performance of traditional diesel trucks. The key lies in NewSteel’s powertrain, which delivers maximum torque instantly. This is a game-changer for mining operations, especially on steep grades and challenging terrain.
Increased Payload for Higher Productivity
Increased productivity is a tangible benefit of this conversion. By removing heavy diesel components like the engine and transmission (a total of 29 tons) and adding batteries and traction motors (20 tons), the truck’s overall weight is reduced by 9 tons. This payload reduction allows the truck to transport an additional 9 tons per trip. This translates to an additional cargo capacity of 40,500 tons per year for a single truck—a 4% increase in payload.
The Third Cornerstone: The Three Cornerstones of Mining
The mining industry faces growing pressure to align with sustainable development goals and ESG (Environmental, Social, and Governance) criteria. Fleet electrification is one of the most powerful steps a company can take to demonstrate its commitment. In fact, there are 3 strategies for reducing mining’s environmental impact that are gaining traction.
Zero Emissions and Improved Health
The primary environmental benefit is the elimination of direct greenhouse gas (GHG) emissions and other pollutants. By running on electricity, off-highway trucks become zero-emission vehicles, directly contributing to the industry’s decarbonization and improving air quality at mine sites. This also positively impacts the well-being of workers and surrounding communities. The reduced operating noise of electric trucks is a significant benefit, as it minimizes noise pollution.
This commitment to sustainability is more than a matter of image. Compliance with ESG criteria is an increasingly vital requirement for accessing capital, attracting investors, and obtaining social licenses to operate. Consequently, companies that proactively embrace these technologies position themselves as leaders and secure their long-term viability. The three cornerstones of mining are not a futuristic vision, but a current operational reality.
The conversion of off-highway trucks to a 100% electric system, such as NewSteel’s solution, is what effectively unifies these three cornerstones, optimizing performance while reducing environmental impact. NewSteel’s technical strength drives this green mining revolution, leveraging science to precisely maximize financial returns for our clients.
If you want to learn more about how NewSteel’s conversion can transform your operation, we invite you to follow our social media on LinkedIn and Instagram. You can also contact us directly via WhatsApp.
