Schneider Electric's EcoStruxure digital solutions and financing options both key to agreement
MISSISSAUGA, ON, March 29, 2019 /CNW/ - Schneider Electric, the leader in the digital transformation of energy management and automation, has announced that they have signed a Memorandum of Understanding ("MOU") with the Kami Mine Limited Partnership ("The Kami LP") to lease or purchase equipment from Schneider Electric for use in the Kami Iron Ore Project ("Kami Project"), located in western Labrador, Canada.
The Kami LP will leverage Schneider Electric's sustainable solutions to optimize energy usage and operating costs for the Kami Project's mining and processing operations.
"We have chosen Schneider Electric because of their vast array of product and service offerings in power and energy management, process control and mine digitization," said Tayfun Eldem, Alderon's President and CEO. "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."
The solutions proposed for the Kami Project would help create a safe and digitally integrated mine by implementing Schneider Electric's EcoStruxure systems at every level. These connected IIoT solutions, such as Plant Process Performance, Power, and Maintenance Advisor systems, can assist in achieving a safe, efficient, and reliable operation through ongoing process monitoring and proactive system troubleshooting.
"We are pleased to be a part of The Kami Project and look forward to helping Alderon create an advanced, efficient and fully digital mine using our IoT-based EcoStruxure architecture," said David Willick, Schneider Electric's Vice President and Mining, Minerals and Metals Segment Leader in North America.
Once definitive documentation has been complete by both parties, The Kami LP and Schneider Electric expect the relationship to move forward successfully, as the companies have an opportunity to cooperatively map out a creative, advanced, and fully connected mining operation.
About Alderon Iron Ore Corp.
Alderon is a leading iron ore development company in Canada. The Kami Project, owned 75% by Alderon and 25% by HBIS Group through The Kami Mine Limited Partnership, is located within Canada's premier iron ore district, the Labrador Trough, and is surrounded by three producing iron ore mines. The Kami product will be shipped through a newly commissioned multi-user, deep-water berth near the Port of Sept-Îles in Québec.
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EcoStruxure is our open, interoperable, IoT-enabled system architecture and platform. EcoStruxure delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for our customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver Innovation at Every Level. The includes Connect Products, Edge Control, and Apps, Analytics & Services. EcoStruxure has been deployed in 480,000+ sites, with the support of 20,000+ system integrators and developers, connecting over 1.6 million assets under management through 40+ digital services