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.
FLSmidth has won a contract worth approximately USD 63m (approximately DKK 369m) from the Kazakhstani company, Kazakhmys PLC, to design a copper concentrator and supply all the process technology for a plant to be built at their Bozshakol copper mine in Kazakhstan, 220 km north of the capital Astana.
The order includes the basic and detailed engineering for the plant in addition to the supply of FLSmidth’s proprietary technologies for crushing, milling, flotation, thickening, filtering, cycloning, pumping as well as regrind mills and material handling conveyors and feeders. FLSmidth will also procure auxiliary 3rd party items for the plant on behalf of Kazakhmys and provide erection supervision, start-up and commissioning services.
The copper concentrator will have a capacity of 5 million tonnes of ore per year.
“This order was awarded to FLSmidth as a consequence of our One Source approach which secures faster start-up, efficient operation and reduced environmental impact. FLSmidth has previously delivered equipment to Kazakhmys PLC which as the world’s eleventh largest copper producer is a very well established player in the industry,” Group CEO Jørgen Huno Rasmussen comments.
The order will contribute beneficially to FLSmidth’s earnings until late 2014.
