Lundin Gold (TSX: LUG) president and CEO Ron Hochstein outlined his thoughts for Mining Journal's Global Leadership Report.
"I see that there will be more artificial intelligence coming in, particularly with exploration where AI will look at data and provide directions for exploration activity," he said.
Beyond exploration, he foresees other areas where AI could benefit operations.
"AI will also come into plant and process operation, where the AI controls the plant to get better recoveries and lowering cost," he said.
Hochstein has worked for the Lundin family directly and as a consultant for more than 20 years.
He's credited with being instrumental in Lundin's acquisition of Fruta del Norte in 2014.
The project, under construction, is expected to pour first gold by the end of this year.
The underground mine is forecast to produce an average 310,000 ounces of gold annually over a mine life of about 15 years, based on probable reserves of 5.02 million ounces grading 8.74g/t.
An update of the project estimate in September 2018 reduced all-in sustaining costs to US$583/oz, improved IRR to 17.5% and increased capex by 1.2% to $692 million.
This article was based on the answer to one of four questions Lundin Gold president and CEO Ron Hochstein was asked as part of his interview for Mining Journal's Global Leadership Report. The report focus this year was ‘The Workplace of the Future'. The research included open interviews with some 20 major mining executives and a survey of more than 500 industry professionals. The results will be released in late August.
