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.
Metso has signed a fourth agreement with Altay Polimetally LLP open pit copper mine in Almaty, Kazakhstan for the delivery of two VERTIMILL Grinding Mills, basic engineering, supervision, commissioning and transportation. This order follows previous contracts for the installation and delivery of crushing and screening plants. The value of the order will not be disclosed.
Metso’s proposal for an integrated solution complied with Altay’s requirements for excellent operating efficiency and total cost solutions optimizing their polymetallic ore processing.
“Meeting recovery and throughput targets at the lowest total cost is essential to profitable operations. The high capacity of our largest machine, the VTM-4500-C, minimizes the project capital cost and reduces the time to start up, while the inherently energy efficient grinding process of the VERTIMILL to the desired fine product size contributes to the lowest possible total cost of ownership . Altay can also expect a quick return and further improved profitability with the Systems’ solution” says Jon Allen, Stirred Milling Global Product Manager, Mining and Construction, Metso.
“Our experience in site management solutions, installation design and the possibility to propose a complete grinding system swayed Altay’s decision to continue with Metso. In addition to the process advantages of the VERTIMILL mills, we also took into account the installation time. Less floor space and smaller foundations are required with our VERTIMILL proposal slating 2 weeks for installation. These conditions were a perfect fit with the customer’s demands to drive down costs and speed up performance. Altay is demonstrating once again their confidence in our solutions proposals” adds Serge de Backer, Business Manager Crusher Systems, Mining and Construction, Metso.
The 4500 HP VERTIMILL grinding mill used at primary grinding stage produces in a closed circuit with fine screens an approximate feed size of 90% passing 3 mm grinding to a product of 80% passing 75 microns. The two VTM-4500-C chosen for this application are the biggest in the range with combined energy efficiency, low media consumption and increased end-product, all factors which weighed significantly in the customer’s final choice.
The order is included in Mining and Construction’s 2nd quarter 2013 orders received with delivery scheduled for second quarter of 2014.
Previous Metso agreements with Altay Polimetally LLP include the world’s biggest Lokotrack mobile crushing plant followed by the delivery and installation of secondary, tertiary and quaternary crushing and screening plants.
Altay Polimetally LLP will extract gold-bearing copper ore at the new mine. The planned ore extraction will be 3 million tons per year, and including host rock, 10 million tons.
