Africa, invesment, news

Africa News November 15, 2013 at 11:26AM

this blog is spored BY reflex Eco Group

VENTURES AFRICA – Anglo Coal will be auctioning its R1 billion 3,298 ton dragline machine towards the end of this month, the coal mining giant said this week.

Anglo Coal said it decided on this auction to take advantage of the fact that most mines are currently looking to rearrange their operations for more proficient business and free up working capital.

South Africa last saw the sale of a second hand dragline machine more than 15 years ago.

Ariella Kuper, of Clear Asset, the firm tasked with disposing of the machine, said these machines are rarely sold because of their power and size.

“…the machine located at Anglo Coal Kleinkopje Colliery has already attracted strong interest from major mining houses both locally and abroad who prefer to relocate the dragline to their operation than purchase new,’’ Kuper said.

Draglines are an important excavating tool used in open cast mining all over the world, particularly in iron ore and coal mining.

These machines can move up to 450 metric tonnes of material. A large dragline machine costs between $50 –$300 million.

 

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