George Aguilera
Executive Vice President
GFS Corp
/
View from the Top

Lower Costs, Impact with LNG Conversion

Mon, 10/22/2018 - 13:34

Q: What makes your technology unique and why should miners buy from GFS?
A: We are the only company offering a field retrofit solution that enable large mine haul trucks to operate on a blend of diesel and natural gas simultaneously. The EVO-MT system is a fully-integrated solution that can be installed in the field with minimal truck downtime. Our EVO-MT technology enables a truck’s diesel engine to take in a certain amount of natural gas and displace an equivalent amount of diesel. In addition to lower fuel expenditures, the overall combustion process is a lot cleaner resulting in less soot and other contaminants.
Q: What cost benefit does GFS Corp’s alternative fuel conversion technology provide the mining industry?
A: It is important to note that we store the natural gas on the truck in the form of liquid natural gas (LNG). We are focused on countries that have large open-pit mines and access to LNG either through domestic production or via import terminals. In addition to LNG availability, we look at the differential between the price of diesel and LNG on a dollar-per-energy-unit basis. This differential needs to be significant enough to offset the cost of the truck conversion and the additional equipment required to receive, store and dispense the LNG at the mine. Prior to the oil price collapse in 2014, many markets had large differentials between diesel and LNG that could justify conversion projects. The differential in Mexico today is sufficient to justify a truck conversion project and this is where our focus lies right now.