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.
FLSmidth has received an order worth USD 38m (approximately DKK 205m) from Omani cement producer Oman Cement Company (SAOG) for the supply of milling equipment for a cement plant located in Rusayl Industrial Area, 60 km from Port Sultan Qaboos, Muscat.
The order covers supply of a 150 tonnes per hour closed circuit ball mill system including two cement silos, each with a capacity of 8,000 tonnes. The scope of supply also includes a high-efficiency central drive for the ball mill and a dynamic separator and fabric filters to reduce dust emission.
“Infrastructure growth in Oman has created a huge demand for cement. Oman Cement Company are already upgrading their existing production lines and now want to set up a fifth cement grinding unit. FLSmidth has a strong service capability and presence in the Gulf Cooperation Council (GCC) countries and therefore has good relations with the company,” Group Executive Vice President Bjarne Moltke Hansen comments.
The order will be booked by the Cement division and contribute beneficially to FLSmidth’s earnings until mid 2015.
