Vancouver-based Ritchie Bros Auctioneers, the world’s largest industrial auctioneer, is gearing up for an open auction later this month on behalf of South Africa-based mining company Sentula Mining, which will see more than 320 of its heavy-equipment items and trucks being sold.
The auction, to be held on March 27, in Witbank, is open to the public. Bids can be made at the auction site or online in real time through the company’s website.
The mining equipment items to be featured will all be sold on auction day to the highest bidders, regardless of price, without minimum bids or reserve prices.
“It’s unusual in the industry to have this many quality mining units together in one place and to sell everything by unreserved auction in one day,” says Ritchie Bros regional sales manager Steve Barritt.
“The inventory will be of interest to anyone in the market looking to acquire high-quality, well-maintained mining equipment and trucks, ranging from Caterpillar 777 rock trucks to D-series dozers, as well as wheel loaders and large Hitachi hydraulic excavators,” he says.
Moreover, a selection of unused spare parts, engines and attachments will be included in the auction.
All equipment in the auction is being sold on behalf of local mining service provider and coal miner Sentula Mining, which has operations in 16 African countries.
Members of the public can inspect the equipment before the auction. Bidding registration is free, though a refundable deposit may be required.
The NYSE- and TSX-listed company exhibited at this year’s Investing in African Mining Indaba, which took place at the Cape Town International Convention Centre from February 4 to 7.
Further, Ritchie Bros senior VP Guylain Turgeon highlights that, while the company has expanded its customer network to all corners of the globe, South Africans have been buying and selling at its globally held auctions for years now.
Once Ritchie Bros Auctioneers concludes its unreserved open auction in Witbank, it will move on to China, where it will be holding its first unreserved public auction at its leased site in the Tianzhy Free Trade Zone, in Shunyi, Beijing, on April 18.