Rio Tinto ready to build Simandou after almost 30 years of setbacks
Simandou has faced delays due to legal disputes, political changes, and the challenges of building out 600 km rail and port infrastructure.
Want a buy a cheap dump truck or digger? Well, there’s probably never been a better time, with a new EY report showing the value of a typical fleet of mining equipment has fallen 64 per cent in just two years.
As significant fall in commodity prices has resulted in minimal demand for and substantial over-supply of “yellow goods”, or heavy equipment in the Australian mining industry.
The value of what EY regards as a typical fleet – 20 haul trucks, 3 excavators, 2 wheel loaders, and 3 dozers – dropped 46 per cent in the 12 months to 30 September 2015 alone, and a total 64 per cent since the end of September 2013.
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Image of Cat C Series Articulated Truck courtesy of Caterpillar
