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.
On 27 March, a variety of mining assets will be taken to auction by leading online mining auctioneering company Clear Asset. The items going under the hammer are a selection of prime assets from majormining titan African Barrick Gold, with unused CAT, Toyota, Tamrock, Liners, an entire processing plant and other OEM spares being offered.
In addition, coal contractors Diesel Power and Genet Mining will be conducting a cleanup of idle and redundant assets which include a CAT 928 Loader, Volvo 240 and Hitachi excavators, Tipper Trucks, Bell B40 ADT’s, Komatsu D375 and D475 dozers as well as a variety of MAN and Mercedes Benz water tankers, drill rigs, LDVs and aVolvo L120 FEL.
An interesting addition to the auction is an entire processing plant in good condition, located in Springbok. The plant will beoffered complete with a grizzly feed bin, 11m conveyor belts 60m/40cm, 22m conveyor belts 40cm, vibrating screens, borehole pumps, screenplant, electrical motor, steel fuel tank and a 6m container. This forms part of a Recoverx matter.
Viewing days are offered to all interested parties in addition to full due diligence being available on the website ensuring maximum information for bidders.
For more information contact Neels Olivier on 082 371 7079 or www.clearasset.co.za
