Higher planned 2015 capex hints at strengthened African mining sector
African miners aim to increase spending over 2015, budgeting, in particular, for enhanced investment in plant and heavy equipment, a survey of more than 100 African mine managers has revealed.
The majority of respondents expect capital expenditure to increase across the four categories investigated, namely, plant and heavy equipment; equipment parts and components; explosives, blasting materials and chemicals; and maintenance services.
Some 65% of respondents to online advisory firm Timetric’s ‘Purchasing Trends and Intentions in African Mining, 2014’ survey expect to raise spending on plant and heavy equipment over the next 12 months, while 55% expect to spend more on explosives, blasting materials and chemicals.
“The results are encouraging for any current or prospective supplier to the African mining industry. “In particular, the high expected increase in plant and heavy equipment spending is indicative of an expansion in production capabilities,” comments Timetric lead analyst Cliff Smee.
He adds that the trend of greater spending on plant and heavy equipment and lower spending on explosives is consistent with an expanding mining industry.
“Mines are spending more on heavy equipment in order to increase production, with heavy machinery purchases preceding increased spend on consumables. Therefore, the results for this section of the survey suggest that the respondents view the African mining industry as in an expansion phase,” he says.
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