$A129.5 million to fund mining equipment - iMINCO Mining Training Information

$A129.5 million to fund mining equipment

Ausdrill, one of the world’s leading internationally-focused mining contractors has raised $A129.5 million to finance equipment and plant purchases for its ongoing businesses in Africa and Australasia.

Leading Australian-headquartered mining contractor Ausdrill Ltd, has announced a successful major capital raising to raise gross proceeds of $A129.5m, to be used as growth capital to fund purchases of plant and equipment for projects commencing in the next 12 months or projects which have been tendered for

Services include open pit and underground mining, drill and blast, and grade control. Ausdrill said thast following strong growth in recent years and assuming continued strength in the resources sector, it expects a high level of tender activity in the next year.

As a result of the resource sector`s increased levels of demand for new equipment, lead times for delivery of new equipment have increased.

$20m-$500m mine contracts

Mining contract terms range from 2 years up to 9 years, with an average term of 4-5 years. Contract values range from $A20m to over $A500m per project. Ausdrill focuses on high growth end markets such as gold, iron ore, copper and nickel.

The equipment being bought by Ausdrill includes Caterpillar 100t-class trucks, exploration, grade control and probe rigs, drill and blast rigs, excavators, truck trays and dozers.

 

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