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.
Sandvik Mining has signed a major Mining Systems contract with a customer in Asia. The order includes design and supply of continuous mining equipment for overburden removal and coal handling. The value of the contract exceeds 1,100 MSEK and will be executed and contribute to Sandvik Mining’s business during the years 2012 until 2015.
“This new contract confirms Sandvik’s strong customer offering and again demonstrates our capabilities of providing excellent technical solutions based on our vast competence in the area of continuous mining and materials handling applications”, says Gary Hughes, President of the Sandvik Mining business area.
Sandvik Aktiebolag
For further information contact: Gary Hughes, President Sandvik Mining, tel +31 207091350 or Jan Lissåker, Executive Vice President Group Communications, Sandvik AB, tel +46 26 26 10 23.
The Sandvik Group
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2011 the Group had about 50,000 employees and representation in 130 countries, with annual sales of more than 94,000 MSEK.
Sandvik Mining
Sandvik Mining is a business area within the Sandvik Group and a leading global supplier of equipment and tools, service and technical solutions for the mining industry. The offering covers rock drilling, rock cutting, rock crushing, loading and hauling and materials handling. In 2011 sales amounted to about 32,200 MSEK, with approximately 13,200 employees (pro forma rounded numbers).
