EY reports mining equipment value plummeting, but some silver linings too
Want a buy a cheap dump truck or digger? Well, there's probably never been a better time, with a new EY report showing the value of a typical fleet of mining equipment has fallen 64 per cent in just two years.
As significant fall in commodity prices has resulted in minimal demand for and substantial over-supply of "yellow goods", or heavy equipment in the Australian mining industry.
The value of what EY regards as a typical fleet – 20 haul trucks, 3 excavators, 2 wheel loaders, and 3 dozers – dropped 46 per cent in the 12 months to 30 September 2015 alone, and a total 64 per cent since the end of September 2013.