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.
Powerscreen, one of the world’s leading providers of mobile crushing, screening and washing equipment, has signed an agreement with its first distributor in Mongolia – Wagner Asia Equipment LLC.
Allen Smith, Powerscreen’s Mining Business Development Manager, said “Signing Wagner Asia Equipment will further strengthen the Powerscreen distribution network globally. Mongolia is a fast developing country with some of the world’s largest deposits of minerals. Powerscreen’s distribution agreement with Wagner Asia Equipment LLC, coupled with the launch of our large XA750S jaw crusher, large XH500 impact crusher; immense 1500 Maxtrak cone crusher, and new flagship Warrior 2400 screen, will establish a strong position in the mining segment and offer customers high productivity and competitive cost of operation, which will benefit the Mongolian market.”
Wagner Asia Equipment LLC is the prominent supplier of mining equipment and services within the Mongolian market, providing strong support to its distinguished clients. Established in 1996, Wagner Asia is a privately owned and operated business which proudly serves its customers through multiple business channels and branch offices. Wagner Asia is currently one of the largest businesses within Mongolia and a strong employer within the capital city of Ulaanbaatar One. The company has benefitted from tremendous sales and market share growth as a result of the exploration of the Oyu Tolgoi Copper Mine, established as a joint venture between the Mongolian Government, Rio Tinto Group and Ivanhoe Mines. By 2013, Oyu Tolgoi will produce 3% of the world’s copper and will represent an estimated 30% of Mongolia’s gross domestic product.
Michael Metson, Powerscreen Business Development Manager, said, “This appointment is important to our success within the region. Wagner Asia Equipment is a specialist mining equipment supplier familiar with the high levels of customer support necessary for operating equipment in Mongolia. The region experiences temperature swings of between -45 to +45 degrees Celsius throughout the year and plays host to some of the most remote geography on Earth. Powerscreen has developed specifications to meet these harsh climates. In doing so, we help Powerscreen customers maintain productivity and profitability, whatever the application.”
For more information on Powerscreen® crushing, screening or washing products or Customer Support, please contact your local dealer. Details can be found at www.powerscreen.com.
