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.
As with the SAA mission of ‘Bringing the world to Africa and taking Africa to the world’, a local company just 2 years old has adopted a similar stance for institutional mining and equipment sales at a time when all eyes are on the mining sector at large.
With over 50% of assets being sold internationally to the likes of Saudi Arabia, Jordan, Egypt, Turkey, Germany, Peru and to neighbouring SADC countries, consumers and companies are accessing previously untapped opportunities in mining equipment.
Representing most major mines in South Africa, Clear Asset continued to break ground taking a wide selection of assets to auction while providing full due diligence, images, specifications and service history per asset (where possible) in an effort to remove the uncertainty often related to auction purchases.
The company’s aim is to source both prime and lower quality/tired assets and represent them accurately. “Offering interested parties support in technical guidance pre-auction, through to actual road and shipping support once the sale is confirmed, is a key differentiator,’’ says Ariella Kuper of Clear Asset.
Closing on 26 August, the latest Clear Asset auction takes to market a wide selection of assets including 8 Mercedes Benz Actros 2650 trucks from Unitrans (2007/2008), a Mercedes Benz 2648 horse with interlink flatbed trailer, Komatsu 320 FEL and jaw crushers from Afrimat, as well as a large variety of scrap including steel hoist cables and hoppers from Sibanye Gold’s Beatrix and Kloof shafts. Additional items include a Volvo EC700BCL (2012) excavator from Mamelodi Quarries and even 10 quad bikes form Anglo gold Ashanti.
Due to a challenging last quarter being affected by labour unrest, unresolved disputes and legacy purchases, there is much focus on freeing up working capital at the mines.
For more information visit www.clearasset.co.za or contact Ariella Kuper on 079 899 9998.
