The real world: Rio Tinto, et al

Just read a cool article about Rio Tinto PLC, the huge mining company based in Australia with operations world wide. In this virile industry you’d think all of the top management would be male, but no, two of the top execs are women. Guess this is one of those merit-based industries.

Here’s the sub-head: “Iron-Ore Miner to Deploy Massive Automated Vehicles at Australian Site in 2012.”

The mine intends to use giant unmanned trucks, “[t]raveling precise routes around Yandicoogina mine and operating 24 hours a day, [that]  will be under the supervision of a single worker in a portable office at the mine, backed up by a control center in Perth that oversees all of the company’s 14 mines, as well as its rail lines and ports, in the distant Pilbara region of Australia’s northwest.

A Rio Tinto spokeswoman says, “There’s nothing weirder than seeing one of these giant trucks with no driver in it.”

Trucks are built by based Komatsu Ltd., “which has also supplied the vehicles … to  a copper mine in Chile. They stand close to seven meters tall and can carry more than 290,000 kilograms, driven by a 16- or 18-cylinder engine churning out about 3,500 horsepower.” Whew!

IFO does not own Rio Tinto or Komatsu shares.

Advertisements

About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
This entry was posted in Economy and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s