Suncor aims at cutting high mine operating costs

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Suncor Energy, the second-largest oil producer in Canada, is prioritizing operational cost reductions in its oil sands mining sector for the year, as announced by CEO Rich Kruger. Amidst efforts to address safety concerns and efficiency challenges, including recent fatalities and slope stability issues at its Fort Hills mine, Suncor aims to enhance its competitive stance against rivals like Canadian Natural Resources, whose mining operations boast lower costs. Suncor’s strategic moves include the expansion of its autonomous haul truck fleet to improve ore transportation efficiency, a significant cost factor in bitumen production. This initiative, expected to save about C$1 million per truck annually, aligns with the company’s broader goal to bridge the cost performance gap and leverage technology and alternative mining methods to rejuvenate its longstanding and oldest oil sands assets.

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