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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FLSmidth MAAG Gear has signed an agreement to acquire a 100% shareholding in the Italian company Darimec, a highly specialised gear manufacturer which develops and produces girth gears, pinions and custom-made reducers for the mining and minerals sector. These products complement FLSmidth’s MAAG range for mining, which includes mill, belt conveyor and bucketwheel excavator gears. The group statement said the buy will “enable the company to offer drive systems from a single source in line with the ‘One Source’ corporate strategy.” Up to now FLSmidth MAAG Gear has produced mainly heavy-duty gear units and individual gear components. (more…)
