What is the Value Proposition? • Greater depth of ore bodies (exhaustion of near-surface ores) • Declining ore grades • Improving mining technology Block Caving is: • Lowest cost underground mining method • A mass-mining method – matching the scale of the largest opencut mines • Can be intensely automated (a safer mining method)
UBS 29-Aug-12 An analyst site visit to Rio's Northparkes copper mine, the broker notes progress being made with Block Caving methods may well help the company maintain an advantage in underground mining in the years ahead. Buy call, target and forecasts are maintained.
The broker saw some new underground mining technological developments that it believes will provide the company some long term competitive advantages, while recent discoveries could well support a major expansion.
BOC Price at posting:
80.0¢ Sentiment: ST Buy Disclosure: Held
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