1 November 2017 – Industry analysts are predicting huge sales at this Thursday’s Yatala heavy machinery auction, as hundreds of trucks and pieces of mining and construction equipment go under the hammer.
The Thursday auction – predicted to be the country’s biggest industry event this year – is set to see over $30 million in equipment cleared, in response to the rising number of infrastructure projects across the country.
Industry analyst and Director at Iron Capital, Richard Lewis, said there was growing demand for equipment across the country with seemingly new projects announced every day. “Increased spending from Federal and state governments, new opportunities from private equity and the ever-growing role of offshore capital in Australia’s big ticket infrastructure projects, means we need more machines on the ground than ever before”, Mr Lewis said.
“We’ve had the mining boom, and now it’s like we’re entering an infrastructure boom”, he said. “This auction is about getting the right gear in the right hands to get these projects underway and keep the country moving forward”, he said.
Mr Lewis said it made sense for Queensland to host the industrial equipment auction given the size and scale of recent construction activity in Northern Australia. “Whether it’s building the Bruce Highway, work on the Gateway Motorway North or the opportunities from Inland Rail – there is a big boom of building activity up here”, he said.
Hosted by Ritchie Bros, the auction will be attended by thousands of bidders in person and online, including a host international bidders from around the world including Vietnam, Canada, United Arab Emirates, Saudi Arabia and Argentina.
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About Iron Capital
Iron Capital is a machinery and equipment provider that enables construction projects to be delivered efficiently and effectively right across the country. With more than 50 years’ experience in the earthmoving and mining industries, Iron Capital understands what customers need to secure critical long-term programs of work and deliver key short-term projects.