- Acquisition of a 77% interest in Teck’s steelmaking coal business for US$6.93 bn
Glencore plc (“Glencore”) announces that it has entered into a binding agreement with Teck Resources Limited (“Teck”), for the acquisition of a 77% effective interest in the entirety of Teck’s steelmaking coal business, Elk Valley Resources (“EVR”), for US$6.93 bn in cash, on a cash free debt free basis, subject to a normalised level of working capital.
SMT Scharf AG (WKN A3DRAE, ISIN DE000A3DRAE2), one of the world’s leading suppliers of customised transport solutions and logistics systems for underground mining, posted consolidated revenue of EUR 54.1 million in the first nine months of the 2023 fiscal year (9M/2022: EUR 59.6 million). This corresponds to a decrease of 9.2 % compared to the previous year. In the third quarter of 2023, however, SMT Scharf recorded an upward trend, with revenue and earnings exceeded the previous year’s level. The SMT Scharf Group increased its revenue slightly by 1.4 % year-on-year to EUR 22.4 million (Q3/2022: EUR 22.1 million), reflecting a brightening of the business climate in the mining markets of relevance to the Group.
Sandvik Mining a. Construction Central Europe GmbH
Sandvik developing new test mine in Finland to support future surface drilling technologies
Sandvik developing new test mine in Finland to support future surface drilling technologies (credits: Sandvik)
In support of the shift towards electrification and the advancement of autonomous and optimization technologies in surface drilling, Sandvik has acquired a new testing facility in Finland to develop and prove future surface drilling technologies.
The surface test mine is located 40 kilometers northwest of Tampere and Sandvik’s renowned underground test mine. The area, which has previously served as a quarry, will be developed by its own drilling plan. The site is Sandvik’s first dedicated exclusively to surface drilling on such a large scale.
“The development of comprehensive solutions that not only harness the latest technologies but also deliver productivity and reliability in our customers’ real-life applications and conditions requires a real-life test environment,” said Petri Virrankoski, President, Surface Drilling at Sandvik Mining and Rock Solutions. “The surface test mine will facilitate the exchange of our deep know-how in equipment manufacturing, rock tools, automation and digitalization, supporting the design and development of even more new products and solutions in the future.”
Sandvik is currently developing the site, officially known as Sandvik Test Pit, and testing its first drills there. Over the next two years, the company plans to construct permanent office buildings and designated customer facilities at the location.
Sandvik will use the test mine for R&D as well as hosting customers for technology demonstrations, particularly those related to automation, digitalization and electrification of surface drills. The site will enable technology development and training for both surface boom and rotary drill rigs, as well as rock tools, parts and services and related digital technologies such as automation and fleet telematics and monitoring solutions.
The test mine will also allow Sandvik to explore and demonstrate power source alternatives in a real-world environment, in which infrastructure to support both boom and rotary drilling electrification can be provided.
“Decarbonization is accelerating across our industry, and the role of electrification in surface mining sustainability will help guide our development of new systems and solutions,” said Dave Shellhammer, President, Rotary Drilling at Sandvik Mining and Rock Solutions. “Testing is a major part of our R&D cycle. This new test mine will help us shorten time to market and verify even more swiftly that we’re delivering the safest, most reliable and productive drill rigs to our customers.”
Sedgman, a member of the Cimic Group, has been appointed as the Managing Contractor for the delivery of a critical minerals processing facility, the first of its kind in the Asia Pacific. Sedgman will work closely with the Queensland Government to develop the detailed design and construction program for the Queensland Resources Common User Facility (QRCUF).
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