GE launched GE Mining today, a new business unit that consolidates the company’s expansion into the $60 billion global mining equipment and energy markets. The new unit, a division of GE Transportation, will be based in Brisbane, Australia.
Geoff Knox, GE Mining’s new chief executive officer, says that the new business will help mines address critical power, water and productivity issues. “The continuing urbanization and growth in energy demand in the emerging economies bodes well for the long-term future of the global mining industry,” Knox said. “With mine operators rebalancing their investments to get more out of their existing assets, GE’s global mining business is well positioned to add value.” The division should reach $5 billion in sales “within a few years,” according to Lorenzo Simonelli, chief executive officer of GE Transportation.
GE Mining builds on GE’s recent acquisition of Fairchild International. The company is also finalizing the acquisition of Industrea Limited, a publicly traded provider of mining products, services and mine safety technology.
GE launched GE Mining, a new business unit that consolidates the company’s expansion into the $60 billion global mining equipment and energy markets.
GE is showing its mining offerings at the MINExpo conference held in Las Vegas this week. They include technologies and software for more efficient power distribution, water conservation, and better productivity and safety.
For example, GE is using its next-generation Durathon battery, part of the company’s ecomagination portfolio, to power underground propulsion systems. The battery significantly reduces problems caused by heat, diesel particulates and emissions, and helps reduce ventilation costs at underground mines.
Water management is another key environmental issue for mining companies. GE engineers have developed breakthrough new technologies that can recover up to 98 percent water and reduce the volume of liquid brine seven-fold when compared to conventional technology. Other systems work to reduce road dust and water and fuel usage.
GE’s monitoring and diagnostic software solutions allows mine operators to make timely and accurate decisions about equipment health and performance in some of the world’s most challenging mining environments.
Mark Vachon, GE’s vice president for ecomagination, said that in the “current global context, the need for mineral resources across a diversified set of industries will continue to grow, and the mining industry will be critical to meeting that demand.”