In a year characterized by cost pressures and commodity price decreases, 2015 was remembered by many in South Africa’s struggling mining industry […]

In a first for Botswana, major mines are now using online auctions to offload unwanted assets and recover revenue. This comes following the extensive success online auctions have experienced in South Africa.

Strategies within the local mining sector have shifted drastically over recent years. With continued challenges within mines houses, many companies have been forced to move their focus away from growth and expansion to that of efficiency and cost control.

With recent headlines focused on yet another physical auction scandal, this time championed by billionaire Ivor Ichikowitz, questions are being asked around the traditional auction mechanism and how secure it is against ‘ghost’ and ‘vendor’ bidding.

South Africa’s largest online construction equipment auction in recent years took place this month following the liquidation of a subsidiary of Protech Khuthele Holdings, Pela Plant.

Following the liquidation of Pela Plant, a subsidiary of Protech Khuthele Holdings, an extensive selection of assets will soon go under the hammer.

Maintaining momentum of fiscal prudence and freeing up working capital, South Africa's major mines continue to proactively dispose of redundant assets.

With mines back in operation and some already up to full production, various companies such as Impala Platinum, Diesel Power and Sibanye Gold will be taking to market a variety of redundant and surplus plant and equipment via an online auction.

Clear Asset, currently representing most major mines and contractors in South Africa, quickly entrenched themselves in the mining sector taking to auction a wide selection of used mining and plant equipment. The company achieved a first for South Africa when they successfully sold a 3,300-ton dragline machine valued at over R1billion new. The company currently represents the likes of Anglo American, Sibanye Gold, Glencore, Exxaro, Rockwell, Diesel Power, Genet, Anglo Gold Ashanti and other mining giants.

Representing most major mines in South Africa, Clear Asset continued to break ground taking a wide selection of assets to auction while providing full due diligence, images, specifications and service history per asset (where possible) in an effort to remove the uncertainty often related to auction purchases.

Exxaro, Harmony, Anglo, Diesel Power and SA Taxi will take a variety of assets to auction during late July. The assets will be sold via a leading online mining auctioneering platform.

With stock from leading coal miner Exxaro, diamond miner Rockwell, various prime assets from Anglo Gold Ashanti and coal contractors Genet & Diesel Power, online auctions continue to offer monthly opportunity in 2nd hand equipment into Africa and Internationally. With another auction scheduled for 22 May, the demand for the online mining auction platform is growing swiftly.