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June 18, 2015

BHP and Teck Resources to enter final bidding round for Barrick’s Zaldivar mine stake

BHP Billiton and Teck Resources are reportedly in the final bidding round to acquire a stake in Barrick Gold's Zaldivar copper mine in Chile, worth more than $1.5bn.

BHP Billiton and Teck Resources are reportedly in the final bidding round to acquire a stake in Barrick Gold’s Zaldivar copper mine in Chile, worth more than $1.5bn.

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As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
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In March, the Canadian mining company announced the sale of the mine in a bid to reduce its overall debt by at least $3bn this year.

According to Bloomberg, Barrick is seeking a buyer for 50% of the Zaldivar copper mine.

"In 2014, the mine produced 222 million pounds of copper."

There are some companies that are interested in buying the whole asset, sources familiar with the matter said.

Sources said that a final decision on the final winner may be announced in July.

Reuters quoted three sources with knowledge of the matter saying that X2 Resources, which bid for the stake, failed to reach the final bidding round as it was outbid in the initial round of the sale process.

Located in the Andean Precordillera in region II of northern Chile, the Zaldívar open-pit, heap-leach copper mine lies at an average elevation of 3,000m.

In 2014, the mine produced 222 million pounds of copper, with probable copper reserves standing at 5.558 billion pounds on 31 December 2014.

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Free Report
img

Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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