In an industry that is forever changing and adapting, it can sometimes be hard to stay on top of all the latest construction and mining news. If we consider how far we have come since the days where we would have to do all the work machines do today by
The developer of a major North Yorkshire mining project has revealed a £1 billion financing plan to allow construction to get under way, having agreed a £245 million deal with a firm chaired by an Australian billionaire. Last month, Sirius Minerals entered into the £245 million finance deal with Hancock
BDC 319 : Aug 2024
In an industry that is forever changing and adapting, it can sometimes be hard to stay on top of all the latest construction and mining news. If we consider how far we have come since the days where we would have to do all the work machines do today by hand, the significance of knowing about and understanding the latest developments is truly highlighted. The following news has been collated from happenings across the globe, which also shows the wide-reaching and global significance of this industry and why it is so important to remain knowledgeable about the developments taking place within it. Drone Adaptation The power of drones has yet to reach its full potential and this is made all the more evident in the fact that drones are now being adapted to be used in the mining and agriculture. Drones essentially are being programmed to offer more advanced solution to problems on construction sites, mines and quarries. From a safety point of view, drones could also be really beneficial with minimising the risks faced by construction workers on a daily basis, something which is very much welcomed. EW60E Wheeled Excavator Introduced Volvo has just debuted its latest EW60E wheeled excavator that not only offers increased efficiency but also a smaller engine. This development has proven to be very popular with the construction industry who are always looking ahead to make the work they do more efficient. The excavator even features a number of attachments such as a hydraulic coupler and is compatible with other hydraulic breakers. Sand Prices on the Rise According to the reports of certain construction stakeholders, there has been concern with regards to the fact that the price of sand needed for construction work has increased considerably in recent months in Asia. This has also coincided with the fact that other raw materials are also seeing an increase in price which is hitting the industry badly in the fact as it now cost more to extract the materials and transport them too. With sand and gravel being the most extracted material in the world, the problem of expensive sand is likely to have a significant impact on the rest of the construction industry, globally. Women in Construction The Mining Journal has recently reported on the increase in the number of women learning about construction in the form of electricity, welding and woodwork. While this is not directly related to mining, it is significant in the fact that it suggests that more women are being encouraged to take on careers that would have previously been considered to be male dominated. Through encouraging the younger generation to see construction as not just offering career opportunities for one gender, this is likely to have a significant impact on the future of construction and related industries. The future of the mining and construction industries is beginning to shift and this is significant in the fact that it is pioneering the change of challenging gender roles in the workplace.
The developer of a major North Yorkshire mining project has revealed a £1 billion financing plan to allow construction to get under way, having agreed a £245 million deal with a firm chaired by an Australian billionaire. Last month, Sirius Minerals entered into the £245 million finance deal with Hancock Prospecting, which is a privately owned firm operating in the agricultural and mining sectors which is chaired by the richest woman in Australia, Gina Rinehart. Along with the royalty financing deal with Hancock, Sirius said it would launch an underwritten placing and open offer to raise around £330 million to £400 million and an underwritten convertible bond offering to raise around £326 million to £367 million. Chris Fraser, Sirius Managing Director, said that the scheme will create jobs throughout Teesside and North Yorkshire, and represents a major business investment in the UK. ‘Compelling value proposition’ Fraser continued: “It’s been a long journey to this point, and we still have some way to go, but I want to thank everyone who has supported the company in its efforts to reach this major milestone. “Once we have received shareholder approval, we want to get on with the job of delivering this compelling value proposition, not only for our shareholders but also for the North Yorkshire community.” Sirius is anticipating that the project will progress in two phases: the initial construction phase and the expansion phase. The initial construction phase is intended to achieve first production from the mine within the next five years. The expansion phase will be funded from operational cash flows and is intended to eventually increase production capacity subject to receipt of further planning permissions and the completion of additional infrastructure. This first tranche of cash will finance the cost of all site preparation, mine shaft excavations, tunnel caverns and the money is expected to be spent in three years. The second round of fundraising will bring in a further US$1.8 billion.
