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.
ABB, a leading power and automation technology group, has won a $32 million order from Vale in Mozambique for complete electrification and automation solutions to maximise productivity, monitor energy use and minimise energy consumption at a new coal mine. The new mine is, according to ABB, one of Vale’s major investments in Africa and will be built at Moatize, in the Tete province of Mozambique. When completed, it will have a nominal capacity of 9.97 Mt/y: 7.71 Mt of metallurgical coal and 2.27 Mt of thermal coal. (more…)
