Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
01.jpg
The major Polish manufacturer of mining equipment, Famur, has recently signed the largest contract in its history with Kompania Weglowa, for 147 million zloty (zł), or almost €33 million. Kompania Weglowa remains state-owned but is Poland’s and the EU’s largest coal producer employing over 60,000 people across 15 mines. Famur has also just signed an important contract with NWR worth 52 million zloty. The deal with Kompania Weglowa involves the sale of 82 Remag roadheaders; with Remag only having been taken over by Famur last year. The machines will work across all 15 Weglowa mines in roadway and longwall development with delivery to take place during 2012-2013. (more…)
