The mining industry has been hit hard by the economic meltdown, falling price of commodities and the lack of credit making used mining equipment for sale an attactive option to keep operations going for smaller miners. While mining giants such as BHP Billiton, Rio Tinto and Anglo-American will remain robust, it is the smaller, junior miners who risk withering away or being taken over.
As with other sectors of the economy, access to cash is crucial. "Cash is becoming king – so those miners who can get and use cash are in a strong position," says Jonathan Lambert, director at PriceWaterhouseCoopers (PWC) in London. "It is a cash-intensive business and 2008 is proving a very difficult year to raise finance.
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