DavyMarkham wins $3.7million Mexican contract

Oct. 15, 2012 - PRLog -- Heavy engineering expert DavyMarkham has won its first contract to supply a production hoist to a mine in Mexico, worth $3.7 million.

The company secured the contract to design, manufacture and supply a double drum production hoist for Agnico-Eagle’s Pinos Altos mine in Northern Mexico. Pinos Altos is located in the Sierra Madre mountain range, 220 kilometres west of Chihuahua and lies on a belt of gold and silver deposits.

The hoist has been designed to increase the maximum capacity of the underground mine from the current 3,000 tonnes to 4,500 tonnes per day. The 12 feet diameter double drum, single clutch production hoist will have a payload capacity of 10 tonnes, a production rate of 363 tonnes per hour and will operate to depths of up to 730 metres. Production has started on the hoist at the Sheffield based company which is scheduled for delivery to El Paso in April 2013.

Mexico is the second Latin American market that DavyMarkham has recently secured contracts in as the company continues to expand its overseas efforts. In August DavyMarkham successfully installed a mine hoist for Volcan Compañia Minera in Peru, having won the contract to design, manufacture and install heavy duty mine hoists for its Pique Andaychagua mining project in the Yauli province.

Gordon Scott, Sales and Marketing director at DavyMarkham said: “We are delighted to win our first contract in Mexico to supply a production hoist and get a foothold in yet another Latin American country”

“International business is incredibly important to our company and winning contracts in Peru and Mexico not only demonstrates DavyMarkhams growing reputation within the mining market, it also confirms that our strategy to enter new markets that have only mined a fraction of their resource potential is the right one”

Gordon said “It is a very encouraging sign”

Mexico is currently the fourteenth largest economy in the world and the second largest in Latin America. It is a country of huge potential with over 700 mining exploration projects in operation at the moment. It is estimated over 70% of Mexican deposits have yet to be explored and developed.