) recently received an order from Tenova TAKRAF to provide
electrical equipments, including the new gearless conveyor
drives, for the El Teniente mine, located in Codelco, Chile.
Presently, the mine is undergoing expansion, which will extend
the mine's operation for the next 50 years.
The overall expansion is estimated to cost about $550 million,
of which the electrification of the new gearless overland
conveyor is a part. ABB expects to complete the electrification
of the first set of conveyors by the third quarter of 2013. The
financial terms of the deal were not disclosed.
ABB's expertise in gearless drive technology along with its
cooperation agreement with Tenova TAKRAF -- one of the leading
companies in the area of mining and bulk material handling
equipment -- mainly worked in favor of the company winning this
order. Both the companies have close association with Codelco
when the feasibility study was conducted and has also enabled
both ABB and TAKRAF to develop the gearless conveyor drive model
that strongly fit the project's needs.
The new conveying drive system is expected to increase
conveying capacity of the mine at Codelco to more than 12,000
tons by 2025 on an hourly basis. In addition, these gearless
conveyor's are also eco friendly as they are non pollutive
compared to the diesel trucks, thereby reducing the carbon
presence in the mine.
Further, the drive system installed by ABB is specially
designed to provide for power back into the grid during
electrical braking and regenerative operation. These unique and
exclusive features are expected to increase the overall
efficiency, availability, reliability and productivity at the El
Teniente copper mine.
Based in Zurich, Switzerland, ABB Ltd. is a power and
automation technology company and currently has a Zacks Rank #2
(Buy). Some other players in the same industry, which can be
considered buying at the moment are
Chicago Bridge & Iron
Emerson Electric Company
) all have a Zacks Rank #2 (Buy).
ABB LTD-ADR (ABB): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis
EMERSON ELEC CO (EMR): Free Stock Analysis
FRANKLIN ELEC (FELE): Free Stock Analysis
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