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.
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Power and automation technology group ABB recently won an $11 million order to supply a complete ore hoisting solution for Xstrata Copper’s Ernest Henry Mining (EHM) copper-gold operation in north-west Queensland, Australia. The tower-mounted hoist will transport ore for EHM’s new underground mine and play a key role in securing the long-term future of the operation by extending its life of mine by 12 years. The order was booked in the first quarter of 2011. ABB’s Axel Kuhr, country manager for Australia said it was selected for this project “because of our unique position as a sole-supplier of complete mine hoist systems, and mining industry expertise, to provide a complete solution that will help this operation develop, thrive and profit well into the future.” ABB has delivered more than 600 new mine hoist systems worldwide. (more…)
