African Miners to increase spending in 2015 survey

Hi All.

Mining.com January 8th 2015.

A recent survey of over 100 African Mining companies conducted by business consultancy Timetric, shows that most of the firms operating in the continent (65%) plans to spend more this year,particularly in heavy equipment.

The respondents also declared they aimed to increase investment in the other three catergories mentioned in the study: "equipment parts and components", explosives,blasting materials and chemicals," and "maintenance services.Cliff Smee, lead analyst at Timetric. "In particular, the high expected increase in plant and heavy equipment spending is indicative of an expansion in production capabilities."
The main method of mining equipment respondents was to buy outright the equipment. With 49% of respondents expecting greater centraism over the next two years.
The Report was based on 108 buyers and decision-makers across 100 mines in 16 African countries. They concluded the local industry has begun an expansion phase.

Regards
Westcott.