Atlas Copco Wins Large Orders for Mining Equipment in Latin America

Atlas Copco (STO:ATCOA) (STO:ATCOB) has won two large orders from mining customers in South and Central America, worth a total MUSD 30 (MSEK 210). One is from Minera Panama to deliver drilling equipment and related services for the Cobre Panama open pit copper project. In Venezuela, Atlas Copco has won an order from the Minerven gold mining corporation.

Minera Panama, a subsidiary of Canada’s Inmet Mining, is buying a package of a total nine machines from Atlas Copco including Pit Viper rotary blast hole drill rigs, Flexi-Roc surface drill rigs, related services and simulator training. The order is worth close to MUSD 20. Most of the equipment will be delivered in 2014 and 2015.

The contract from Minerven in Venezuela is worth around MUSD 10. It covers underground drill rigs, loading equipment and core drilling rigs, as well as portable and stationary compressors. The equipment will be delivered over the coming year.

"These orders show the importance of having a strong local presence to support our customers,” said Bob Fassl, Business Area President, Atlas Copco Mining and Rock Excavation Technique. "We have recently built up a dedicated organization in Panama and are very proud to now have been chosen by Minera Panama as their supplier of blast hole drilling equipment.”

Both orders were booked in the fourth quarter.

Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9). Learn more at www.atlascopco.com.

Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.

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