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Mining Companies Choosing Online Auctions
More mining companies choosing the auction process
More mining companies are choosing to sell their mines and/or mining assets via auction, a sealed bid or a private treaty event, says John Taylor, Associate Director at asset disposal specialists, GoIndustry DoveBid SA.
We have more than 6 mining auctions coming up in the next two weeks, with 4 more in the pipeline. This includes big players in the mining and construction sector across the country, such as Foskor Phalaborwa, Black Mountain Mine, Assmang KhumaniIron Ore, Naauwpoort Industry & Mining Salvage Industries and Mitsubishi Hitachi Power Systems Africa to name a few.
“We offer a large suite of services, which includes complete asset disposal, management, valuations, as well as waste and scrap facilities management. Our asset disposal process is a completely transparent and auditable which is proving a major success with various mining houses in Southern Africa,” say Taylor. He continues by saying that they have also developed our offering by advising and managing due diligence processes when it comes to selling complete mining assets, whether it be a distressed sale situation or a corporate disposal.
Herman Liversage, mining specialists and Associate Director of GoIndustry DoveBid SA, further explains that online auctions in particular provide a sale platform that is more cost effective for the seller, as it allows for assets to remain at various locations without the need for costly transport and labour to move them to a centralised auction yard. It is very convenient for buyers as they can bid from the comfort of their business premises, saving them time and money where ease of access might be an issue.