AMEC cements bond with De Beers Canada

Engineering and consulting firm AMEC has signed a long-term co-operative agreement with De Beers Canada.

The two companies have worked on various Canadian diamond projects in recent years. AMEC is completing a prefeasibility study of De Beers’ Victor project in Ontario and will soon enter the feasibility stage.

Last year, De Beers chose AMEC to build the facilities at the Snap Lake diamond mine in the Northwest Territories.

AMEC also provided engineering services to the nearby Ekati mine, operated by BHP Billiton.

The engineering firm generated more than US$6 billion in revenue in 2001 and has offices in 36 countries.

Sandvik will close a mining equipment manufacturing plant in Bluefield, W.Va., and lay off 150 employees.

Faced with a slump in the coal market, the Swedish engineering firm is concentrating production of mining equipment in North America at plants in Alachua, Fla., and Burlington, Ont.

The coal market has been depressed since 2001, and Sandvik says it must cut costs to remain profitable.

Sales, service and admistration work will be shifted from Bluefield to Sandvik’s facilities in Bristol, Va. Service workshops in West Virginia and Pennsylvania will remain open.

The layoffs will being in early 2003.

Anglo Platinum has paid roughly US$31 to acquire a 17.5% stake in Johnson Matthey Fuel Cells, a subsidiary of London-based Johnson Matthey.

Since 1993 Johnson Matthey and Anglo Platinum have collaborated on research and development of fuel cells under a long-term agreement. The buy-in will give the fuel cell business improved access to platinum supplies.

“The development of fuel cells is a logical extension of our strategy of expanding the market for platinum group metals,” says Barry Davison, executive chairman of Anglo Platinum.

Fuel cells generate power by combining hydrogen and oxygen to produce electricity, heat and water. They use an electrochemical process to produce a direct current, without combustion or moving parts.

Johnson Matthey Fuel Cells employs more than 150 people in its research and manufacturing facilities in Europe, the U.S. and Japan.