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.
The English engineering company, DavyMarkham, has been awarded a $20 million order for the supply of mining hoists and associated electrical drives and controls by gold producer IAMGOLD of Toronto, Canada. The contract includes a large double drum hoist with a diameter of 6.4 m, a drum width of 2.4 m and a payload capacity of 20,000 kg. It will serve as the main production hoist, operating at depths down to 2,652 m, at IAMGOLD’s new Westwood exploration program. (more…)
