Ritchie Bros. sells hundreds of mining equipment items in South Africa

Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, sold more than 690 mining and other heavy equipment items, trucks, attachments and parts at an unreserved public auction in Witbank (near Johannesburg), South Africa on March 27, 2013. The auction, held on behalf of Sentula Mining Limited, a leading mining service provider and coal miner based in South Africa, attracted more than 270 registered bidders from over 45 countries to bid in person at the auction site or online in real time.

“The unreserved auction in Witbank attracted a truly global audience of on-site and online bidders from a range of countries including Congo, Mozambique, Egypt, Russia, Australia, Portugal, the United Kingdom and many more,” said Guylain Turgeon, Senior Vice President, Sales, Ritchie Bros. Auctioneers. “More than sixty percent was sold to buyers from outside of South Africa. Equipment prices were particularly strong in the auction for heavy construction items and trucks. We also witnessed strong competition from live online bidders, which resulted in more than half of the gross auction proceeds being generated over the internet.” 
Some of the auction’s highlights included:
·        26 crawler tractors, including two 2008 Caterpillar D9T that sold for US$270,000 each
·        12 Wheel loaders, including a 2006 Caterpillar 992G that sold for US$170,000
·        48 articulated dump trucks, including three 2008 Volvo A40E that sold for US$87,500 each
·        67 rock trucks, including four 2003 Caterpillar 777D that sold for US$110,000 each
·        2 motor graders, including a Caterpillar 16G that sold for US$105,000
·        37 hydraulic excavators, including a 2008 Hitachi EX1200-5D that sold for US$85,000