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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During the Exposibram mining show in Belo Horizonte, IM Editor Paul Moore took the opportunity to visit the special Chinese pavilion, where one of the exhibitors is Xiangtan Electric Manufacturing Group (XEMC), the leading China-based manufacturer of large electric drive mine trucks. IM and XEMC have corresponded in the past but this was the first opportunity for a face to face meeting. Marketing manager Duan Chaojun gave an update on the company’s progress: in Inner Mongolia, 51 220 t SF33900 trucks are now operating at lignite operations in addition to another four in Xianjang Province. These trucks has a Cummins QSK60 engine and 5GTA41B GE drive. In smaller models, there are over 500 models of the 108 t SF31904 model now operating. But the very latest news is that the company has built a 300 t truck, the SF35100, as well as agreeing to deliver four SF33900 models to Rio Tinto in Australia. (more…)
