Challenge
After nearly 25 years, a copper mine in coastal North America was approaching the end of its life. The mine’s owner, a leading global mineral resources organization, needed to decommission the site in compliance with environmental regulations and its internal social responsibility policies. The organization sought to maintain good public relations through careful decommissioning.
Since undertaking this task internally would entail significant risk and cost, the organization looked for a trusted partner to handle it.
Solution
The mineral resources leader selected Liquidity Services to efficiently decommission the site by removing and selling all associated assets. With extensive knowledge of the reverse supply chain and the mining industry, Liquidity Services was well-qualified to accomplish this project.
Demonstrating a commitment to superior client service, Liquidity Services’ project management team embedded itself onsite for an extended period. We worked closely with the client to handle virtually every aspect of the asset management and disposition process. After compiling asset information for prospective buyers, Liquidity Services launched a series of sales to generate maximum recovery. We sold mobile equipment such as trucks and dozers through online auction and orchestrated private treaty sales for the more specialized process equipment such as ball and SAG mills.
Our role also extended to responding to prospective buyers around the world, supervising buyer inspections, and negotiating sales. Throughout the dismantling and removal processes, our team worked to carefully mitigate all potential environmental, health, and safety issues.
Results
Liquidity Services sold all reusable assets within the client’s requested timeframe and for recovery nearly 150% above expectations. With all assets removed safely and sustainably, the client concluded that the site had been environmentally remediated.
By efficiently and carefully decommissioning the mining site, Liquidity Services allowed its client to focus on core business issues. And by selling the mining surplus for maximum recovery, we increased the client’s bottom line.