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.
At an unreserved auction held by Ritchie Bros. Auctioneers on Wednesday March 27 in Witbank (close to Johannesburg), South Africa, a selection of 600 heavy mining equipment items, trucks and attachments will be sold to the highest bidders. Anyone can register to bid on-site at the Witbank auction site or live online at www.rbauction.com. All items will be sold on auction day without minimum bids or reserve prices, regardless of price. The auction starts at 8.30 AM local time.
People looking to buy heavy rock trucks, wheel loaders, hydraulic excavators, bulldozers, dump trucks and more will have a great chance of finding what they need at a price that is right. The auction features large quantities of equipment from Caterpillar (173), Volvo (55), Hitachi (39) and Mercedes-Benz (34). Detailed equipment information and photos of items featured in the sale are available at the company’s website.
“It’s unusual in the industry to have this many quality mining units together in one place and sell everything by unreserved auction in one day,” said Steve Barritt, Regional Sales Manager, Ritchie Bros. Auctioneers. “The inventory will be of interest to anyone in the market who wants to acquire high quality, well-maintained mining equipment and trucks, ranging from Caterpillar 777 rock trucks to D-series dozers and from wheel loaders to large Hitachi hydraulic excavators. There’s even a big selection of unused spare parts, engines and attachments included in the auction.”
Over 400 items included in the sale have been professionally refurbished by hundreds of painters, mechanics and other specialists.
Video: http://www.youtube.com/watch?v=mabo87NWGmQ
More information available at http://www.rbauction.com/heavy-equipment-auctions/johannesburg-zaf
