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Toromont to Supply Equipment and Service for Meadowbank Gold Mine

Toromont Industries Ltd. last week announced that it was selected by Agnico Eagle Mines Limited to supply the mobile equipment and power systems needs of the Meadowbank project north of Baker Lake, Nunavut — the territory's newest open pit gold mine.

In the fall of 2007, Toromont's CAT division will provide three high-efficiency, low-emission, 2-megawatt arctic-grade power modules for the construction phase of the mine. Starting in 2008 and completing in 2009, Toromont CAT will provide a total of six 4.4-megawatt power modules for the main power plant complete with heat recovery facilities and plant controls. The total nominal output capacity of the Meadowbank mine main power plant will be 26 megawatts.

Toromont CAT will also deliver the mining equipment fleet consisting of 32 Caterpillar machines planned for the production and construction phases of mine development. In addition to Caterpillar equipment, Toromont will supply three German-made O&K large hydraulic excavators in front shovel and backhoe configurations.

The total estimated value of the mobile fleet and power generation equipment sale is $62 million spread over the next three years.

In addition, Toromont CAT will provide product support to the Meadowbank project on all power and mobile equipment and Toromont's on-site parts and service depot is expected to be open late this year.

Toronto-based Toromont Industries operates through two business segments: The Equipment Group and the Compression Group. The Equipment Group includes one of the world's largest Caterpillar dealerships by revenue and geographic territory in addition to Battlefield Equipment Rentals, which is No. 22 on the RER 100.

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