AUTOMATION: Robots could now be in charge of mill reline process

CHILE – MIRS, the Chilean subsidiary of HighService Corp., launched a robotic solution for the reline of SAG and ball mills this week. The external mill maintenance robot or EMMR is considered to be the world’s first fully automated system

The post AUTOMATION: Robots could now be in charge of mill reline process appeared first on Canadian Mining Journal.

GOLD: Automation technology to be deployed at Westgold operations

AUSTRALIA – Autonomous solutions provider RCT is finalizing a major automation project for Westgold Resources at five of its gold mine sites in Western Australia’s Murchison region. The project involves RCT installing and commissioning its ControlMaster guidance automation technology to

The post GOLD: Automation technology to be deployed at Westgold operations appeared first on Canadian Mining Journal.

Robot Trading Will End in Disaster

This post Robot Trading Will End in Disaster appeared first on Daily Reckoning.

Today, stock markets and other markets such as bonds and currencies can best be described as “automated automation.” Here’s what I mean.

There are two stages in stock investing. The first is coming up with a preferred allocation among stocks, cash, bonds, etc. This stage also includes deciding how much to put in index products or exchange-traded funds (ETFs, which are a kind of mini-index) and how much active management to use.

The second stage involves the actual buy and sell decisions — when to get out, when to get in and when to go to the sidelines with safe-haven assets such as Treasury notes or gold.

What investors may not realize is the extent to which both of these decisions are now left entirely to computers. I’m not talking about automated trade matching where I’m a buyer and you’re a seller and a computer matches our orders and executes the trade. That kind of trading has been around since the 1990s.

I’m talking about computers making the portfolio allocation and buy/sell decisions in the first place, based on algorithms, with no human involvement at all. This is now the norm.

Eighty percent of stock trading is now automated in the form of either index funds (60%) or quantitative models (20%). This means that “active investing,” where you pick the allocation and the timing, is down to 20% of the market. Although even active investors receive automated execution.

In all, the amount of human “market making” in the traditional sense is down to about 5% of total trading. This trend is the result of two intellectual fallacies.

The first is the idea that “You can’t beat the market.” This drives investors to index funds that match the market. The truth is you can beat the market with good models, but it’s not easy.

The second fallacy is that the future will resemble the past over a long horizon, so “traditional” allocations of, say, 60% stocks, 30% bonds and 10% cash (with fewer stocks as you get older) will serve you well.

But Wall Street doesn’t tell you that a 50% or greater stock market crash — as happened in 1929, 2000 and 2008 — just before your retirement date will wipe you out.

But this is an even greater threat that’s rarely considered…

In a bull market, this type of passive investing amplifies the upside as indexers pile into hot stocks like, for example, Google and Apple have been. But a small sell-off can turn into a stampede as passive investors head for the exits all at once without regard to the fundamentals of a particular stock.

Index funds would stampede out of stocks. Passive investors would look for active investors to “step up” and buy. The problem is there wouldn’t be any active investors left, or at least not enough to make a difference. There would be no active investors left to risk capital by trying to catch a falling knife.

Stocks will go straight down with no bid. The market crash will be like a runaway train with no brakes.

It comes back to complexity, and the market is an example of a complex system.

One formal property of complex systems is that the size of the worst event that can happen is an exponential function of the system scale. This means that when a complex system’s scale is doubled, the systemic risk does not double; it may increase by a factor of 10 or more.

This kind of sudden, unexpected crash that seems to emerge from nowhere is entirely consistent with the predictions of complexity theory. Increasing market scale correlates with exponentially larger market collapses.

Welcome to the world of automated investing. It will end in disaster.

Regards,

Jim Rickards
for The Daily Reckoning

The post Robot Trading Will End in Disaster appeared first on Daily Reckoning.

SAFETY: Reverse Assist from Hexagon improves haulage safety

ARIZONA – Hexagon’s mining division has introduced HxGN MineOperate Reverse Assist, a high precision positioning application that guides truck operators with the optimum reversing path. Reverse Assist completes the division’s Operator Assist product suite. Inaccurate reversing maneuvers and costly collisions

The post SAFETY: Reverse Assist from Hexagon improves haulage safety appeared first on Canadian Mining Journal.

AUTOMATION: Epiroc rolls out 6th Sense for smarter mining

SWEDEN – Epiroc presents 6th Sense, a new approach that combines digitalization and automation to boost customers’ performance. There is a growing need for the mining and infrastructure industries to look to digital technologies to enhance productivity, sustainability and safety.

The post AUTOMATION: Epiroc rolls out 6th Sense for smarter mining appeared first on Canadian Mining Journal.

TECHNOLOGY: Wenco moves into Brazil with TecWise partnership

VANCOUVER – Wenco International Mining Systems has created a new partnership with TecWise Sistemas de Automaçãon, a leading provider of technology and communications systems to the Latin American mining industry. This new agreement makes TecWise the exclusive distributor of Wenco

The post TECHNOLOGY: Wenco moves into Brazil with TecWise partnership appeared first on Canadian Mining Journal.

HAULAGE: Komatsu creates autonomous haulage centre of excellence

TUCSON, Ariz. – Bringing together product, technology and service experts from across the company, Komatsu announces the launch of its global Center of Excellence (CoE) for Autonomous Haulage Systems (AHS). The CoE team will be responsible for AHS strategy, planning,

The post HAULAGE: Komatsu creates autonomous haulage centre of excellence appeared first on Canadian Mining Journal.

TECHNOLOGY: Hitachi’s vision for autonomous mining to be unveiled by Wenco

VANCOUVER – Wenco International Mining Systems, a subsidiary of Hitachi Construction Machinery, will unveil Hitachi’s new global vision for autonomous mining systems at the CIM 2019 convention, running April 28 to May 1 in Montreal. A major provider of equipment

The post TECHNOLOGY: Hitachi’s vision for autonomous mining to be unveiled by Wenco appeared first on Canadian Mining Journal.

ENERGY: Schneider, Alderon create partnership for Kami mine development

LABRADOR – Schneider Electric, the leader in the digital transformation of energy management and automation, has announced that it has signed a memorandum of understanding with Kami Mine LP to lease or purchase equipment from Schneider Electric for use in

The post ENERGY: Schneider, Alderon create partnership for Kami mine development appeared first on Canadian Mining Journal.

AUTOMATION: Hard-Line chooses new distributor in Arizona

  SUDBURY, Ont. – Hard-Line, a global leader in remote control technology, announces an exciting new partnership with Bingham Equipment Co., who will be Hard-Line’s newest distributor in Arizona. With 11 locations in the state, Bingham Equipment will distribute Hard-Line’s

The post AUTOMATION: Hard-Line chooses new distributor in Arizona appeared first on Canadian Mining Journal.