It's Here! - CablePrice

TRACK & WHEELCablePricesecures multiplegiant excavatordeal at StocktonOn the back of Solid Energy’s announcementthat it has concluded an agreement withDowner EDI Mining to jointly operatethe Stockton coal mine in an alliancearrangement from 3 October 2009,CablePrice & Hitachi have secured an orderfrom the Alliance for the purchase of four100+ tonne mining excavators.On 7 September 2009 the Alliance formally announced thepurchase of two Hitachi EX1200-6 and two Hitachi EX1900-6mining excavators (110 tonne and 190 tonne respectively) throughCablePrice (NZ) Ltd for delivery from December this year. Thefour Hitachi heavy mining excavators will form the core of thenew excavation fleet at Stockton. Decisions about additionalequipment will be taken next year when plans for mining theMillerton and Cypress areas of the mine are more advanced.Solid Energy Chief Executive Officer, Dr Elder says: “We wereextremely pleased to confirm that Stockton Alliance were takingover mining operations from 3 October. At Stockton we havea world-class coal resource of premium coking coal which candeliver substantial export earnings to New Zealand over thenext 20 years. To maximise the mine’s value and to operate itsafely we needed a step change in operational performance. Thisrequired a substantial investment in skilled people, in new fit-forpurposeplant and equipment, and in systems. Stockton Alliance,a new and innovative approach to mining in New Zealand, willbring together one group of people in one team committed toachieving a common set of objectives.”The investment in new plant and machinery, together with the$110 million investment in the coal processing plant, and mineexpansion development and site infrastructure upgrades ofapproximately $14 million, brings Solid Energy’s total investmentin Stockton Mine to about $200 million this year.Managing Director for CablePrice, Sean Hashimoto says: “Weare delighted to secure the order of four giant mining excavatorsto Stockton Alliance. I believe this reflects Hitachi’s globalposition as the leading manufacturer of mining excavators andreflects the value and confidence Solid Energy and Downer EDIMining see in our machines. We now look forward to getting themachines to work and demonstrating the exceptional performanceof the products as well as the added value CablePrice can providethrough our back-up support.”19