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Most major miners report AI-driven gains in Q3

McKinsey estimates AI could lift miners’ EBITDA by 10% to 15% by increasing production about 5% and cutting direct C1 cash costs about 10%.

Reported · Written up by our desk · Mining

Mining.com, citing McKinsey, reports that 15 of 19 major mining companies tracked by the consultancy reported AI-driven financial gains in the third quarter through Sept. 11.

The tally rose from four companies in the prior quarter, and McKinsey said the technology was beginning to move beyond pilot projects, with 10 of the 19 firms reporting bottom-line impact from AI in their processing operations.

McKinsey estimates AI could increase miners’ earnings before interest, taxes, depreciation and amortization by 10% to 15%, driven by roughly a 5% increase in production and about a 10% reduction in direct C1 cash costs.

The consultancy did not identify the companies or disclose the dollar value of gains, and it characterized the current count as “realized value claims,” with McKinsey partner Ferran Pujol saying the key test is whether operations run differently, not whether companies just have better tools.

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