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.
Following the success of an online mining auction which took place on 11 February on the heels of the Cape Town Mining Indaba, a wide range of mining assets are set to go on auction again later this month.
During the early February auction, mining specialist auction house Clear Asset saw multiple OEM assets find their way overseas. Sales included nine Volvo ADTs which attracted extensive interest, with five international bidders from four continents bidding on each item. Interest in such assets has beenhigh as the weaker rand bodes well for mining houses looking to monetise their assets.
The upcoming online auction, set to take place on 27 February, features mining assets such as excavators, graders, tippers, rollers, tankers and various others vehicles and machinery. Examples of items include a CAT 140G Motor Grader, an Ingersolrand 12 Ton Smooth Drum Roller, Linde forklifts, a CAT 320 Excavator, a Komatsu PC220 Excavator, a Dynapac CA301D Smooth Drum Roller, a 2001 Liebherr Wheeled Excavator, a number of Powerstar 2642 Tow Trucks and various prime OEM spares.
Comments Ariella Kuper of Clear Asset, ‘’The exceptional results we have seen over previous months shows continued demand from the market for such assets. The online space provides the perfect platform for those in the trade to source, view and purchase a wideselection of mining assets, anywhere in the world. The feedback we receivedduring the recent Mining Indaba was exceptional, with a number of mines looking towards the online space to dispose of excess assets.”
Visit www.clearasset.co.za to view the list of items going on auction.
