Miners and mining contractors looking for a simple, transparent way to buy or sell used mining equipment should mark their calendars.
Mine Source, the world's only auction company dedicated to solely serving the mining industry, will hold their third, live one-day auction event starting at 11 a.m. EST on Oct. 9.
Mark and Matt Alexander, the creative team of brothers behind the Sudbury-based company, founded Mine Source Auctions in 2002. When they realized that companies were looking for ways to sell surplus equipment, they jumped on the opportunity to build a solution.
In November 2018, Mine Source Auctions held its first non-reserve auction, liquidating 120 lots from three mines in one day.
This upcoming auction is over twice the size of their last and a lot of companies are scrambling to get in.
“We are getting a lot more traction,” said Matt about how their list of clients is growing internationally. “A lot of the stuff can be refurbished and used in other territories.”
There are almost 250 items up for auction this time around, including a portable mill that can do 100 tonnes per day that includes most of the components of a complete mill all the way down to plow blades and re-capped tires.
“It's a wide variety of items. Almost anything you'd find in a mine, you'd find in this auction.”
Mine Source Auctions provides companies with an easy way to sell or purchase equipment at fair market value. They travel to individual sites to gather pictures and information on each item so companies don't have to. Their online auctions are widely accessible to companies around the world.
The Mine Surplus auction is an online-only auction event of reserve and non-reserve items. Those hoping to participate are being asked to register in advance by visiting Mine Source's website. You can create an account to participate in the auction at minesource.proxibid.com.
