Swift downturn whipsaws demand for earth-moving equipment

摘要

It was less than a year ago that warp-speed growth in the mining and construction industries was causing industry-wide shortages of everything from ore-hauling trucks to tires. Mining companies like Barrick Gold (ABX-T, ABX-N) were scrambling to find more creative ways of securing critical equipment. The Canadian gold major even agreed to loan Japan's Yokohama Rubber 35 million US dollars so the Asian tire maker could build a second production line, and in return, provide Barrick with a secure supply of off-the-road tires for a 10-year period starting in 2009.