Cost of Corrosion in Mining Industry: Collect Quality Data for Effective Decision-Making

Abstract According to IMPACT Study, the annual global cost of corrosion is $2.5 trillion, equivalent to roughly 3.4% of the world's gross domestic product (GDP). Based on available studies and data, mining is an insignificant contributor to the cost of corrosion compared to other economic sectors such as infrastructure, oil and gas, and defense. However, mining operations can be highly corrosive and there have been documented catastrophic failures where corrosion has played a causal role. This raises the question: is corrosion cost properly measured and reported for mining industry? This paper presents case studies from different mining sites to show how corrosion cost is often hidden and not properly tracked, but significantly increases the operational expenditure (OPEX). It also discusses some available methodology and approach to overcome this issue. In addition, an example is included to illustrate how lifecycle corrosion cost data allows effective capital investment decision-making.