Arcadium shareholders approve sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
BBC’s Jeremy Clarkson, a car enthusiast who hosts the show Top Gear, ran a documentary on an underground mine in Kalgoorlie, Australia, and learned about the exceptional wear-and-tear exacted on the vehicles.
“Here, 2,700 feet down there are machines that have never and will never see the light of day. In one mine there are 300 miles of roads and that means the only means to get about is in a car. They are used for getting men, machines and explosives to the face, and then getting the hell out,” narrates Clarkson.
Clarkson states that the mine spend about GBP1,500 ($2,400 a month) keeping the trucks running. The mechanic interviewed states that the harsh driving environment, the nickel in the rock, corrode the vehicles.
Driver abuse also plays its part.
When asked what truck holds the shortest life span, the mechanic states that a Toyota holds the dubious distinction of lasting just three hours underground. It was parked in a bay and then run over by a 50-tonne truck.
Michael McCrae wrote this story. You can contact him at [email protected] or on twitter at @michaelmccrae.
Comments
Arthur Lopez
That was really amazing. I really love it.