The surface mining equipment industry in Europe focuses on the design, manufacture, and sale of machines used to extract minerals from the earth's surface. Companies operating in this sector produce a wide range of products, including excavators, drills, and trucks, aimed at improving efficiency and safety in extraction processes. As the demand for minerals continues to rise, especially for metals crucial for technological developments, this industry is evolving with innovative technologies integrating automation and sustainability. Emerging trends suggest a strong push towards environmentally friendly practices, reshaping how minerals are sourced while reducing their ecological footprint.


This article features a mix of corporate and private equity investors, headquartered in top locations like London, Baar, and Espoo. With sizes ranging from small firms to giants such as Glencore and Anglo American, these investors have been active in 2024, securing numerous deals to enhance their portfolios in the mining sector. Founded between 1873 and 2020, each investor brings a distinct focus and approach to the surface mining equipment market, reflecting the dynamic nature of this critical industry.


Top 11 Surface Mining Equipment Investors in Europe


1. Epiroc Construction Tools


Epiroc Construction Tools, founded in 2018 and based in Kalmar, Sweden, is a corporate investor specializing in mining and construction equipment. The company offers a diverse range of products, including drill rigs and rock excavation tools, alongside services such as maintenance and digital solutions aimed at enhancing productivity and safety. Epiroc has been actively expanding its portfolio through strategic acquisitions, including Remote Control Technologies Pty Ltd, which enhances their automation capabilities for both surface and underground mining operations. They also acquired CR Mining, further strengthening their position in the mining equipment sector. Other notable transactions include the acquisition of Wain-Roy, a manufacturer of excavator attachments, and Stanley Infrastructure, which underscores their commitment to the construction market. Epiroc's recent purchase of key assets from Schramm Australia highlights their focus on innovation and technology in mining, making them a significant player in the surface mining equipment industry.


2. Glencore

  • Website: glencore.com
  • Type: Corporate
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1978
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: glencore

Glencore plc is a multinational commodity trading and mining company based in Baar, Zug, Switzerland, founded in 1978. With over 10,000 employees, Glencore operates in the sectors of metals, minerals, and energy, supplying essential commodities such as copper, cobalt, and oil to various industries. The company is committed to responsible sourcing and sustainability in its operations. In recent transactions, Glencore has shown its active role in the mining sector, including a significant acquisition of approximately 82.19% of PolyMet Mining Corp. through a rights offering, which raised approximately US$195 million. This investment indicates Glencore's commitment to expanding its influence in the mining industry, which often involves the use of surface mining equipment. Additionally, Glencore has participated in debt financing for other mining companies, such as Capstone and Cyprium Metals, further demonstrating its engagement in the mining sector.


3. Rio Tinto

  • Website: riotinto.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1873
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: rio-tinto

Rio Tinto Group, founded in 1873 and headquartered in London, England, is a leading mining company that specializes in the extraction and refining of metals and minerals, including iron ore, aluminum, and lithium. With a workforce of over 10,000 employees, Rio Tinto operates globally, focusing on sustainable practices and innovation to meet the increasing demand for low-carbon solutions. The company has been involved in significant transactions that bolster its position in the mining sector, such as the acquisition of the Rincon lithium project in Argentina, which enhances its battery materials business. Additionally, Rio Tinto's acquisition of Kennecott Utah Copper and its increased stake in Richards Bay Minerals demonstrate its commitment to expanding its mining operations, which are likely to require surface mining equipment. These strategic moves position Rio Tinto as a key player in the mining industry, making it a relevant investor in the surface mining equipment sector.


4. Metso

  • Website: metso.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 2020
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: metso

Metso Corporation, founded in 2020 and based in Espoo, Uusimaa, Finland, is a corporate investor specializing in industrial machinery and technology for the mining, aggregates, and oil and gas industries. With a workforce of over 10,000 employees, Metso provides a comprehensive range of products, including machinery, spare parts, and lifecycle services aimed at improving operational efficiency and sustainability for its business customers. Notably, Metso has made significant acquisitions to strengthen its position in the mining sector, including the acquisition of McCloskey International, a key player in mobile crushing and screening solutions, and Ab A. Häggblom Oy, which specializes in mining truck bodies and buckets. These strategic moves highlight Metso's commitment to enhancing its offerings in surface mining equipment and related services, making it a relevant investor in this industry.


5. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has been involved in several acquisitions, including the Royal Reesink Group, a distributor of machinery and equipment, which aligns with the surface mining equipment context. Other acquisitions include Cubility, a Norwegian oil services company, and Ovako, a steel manufacturer, showcasing their diverse investment portfolio.


6. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010, enabling businesses to raise capital through equity investments. The platform connects startups and SMEs with potential investors, promoting diversity and inclusion within its workforce while providing investment management services. In recent transactions, Crowdcube has facilitated significant funding for companies in the mining sector, such as Cornish Tin, which raised over $1.3 million in October 2023 and $1.16 million in March 2022, and Cornish Lithium, which raised over $6.3 million in September 2023. These transactions highlight Crowdcube's active role in supporting businesses involved in mineral extraction, making them a relevant player in the surface mining equipment context.


7. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in companies such as Johnsons Aggregates & Recycling, which operates in the aggregates sector, and Plantforce, a provider of heavy equipment rentals in South West England, receiving a GBP4.7 million growth capital investment to support its expansion plans. These transactions highlight BGF's involvement in sectors that are closely related to surface mining equipment, showcasing their potential relevance in this industry.


8. Holcim

  • Website: holcim.com
  • Type: Corporate
  • Headquarters: Zug, Zug, Switzerland
  • Founded year: 1912
  • Headcount: 10001+
  • Number of deals in 2024: 12
  • LinkedIn: lafargeholcim

Holcim is a corporate investor based in Zug, Switzerland, specializing in innovative and sustainable construction solutions. Founded in 1912, Holcim has grown to become a leading manufacturer of building materials, including cement, aggregates, and ready-mix concrete. The company is committed to decarbonizing building practices and driving circular construction to meet the demand for environmentally friendly materials. In recent years, Holcim has made strategic acquisitions to strengthen its position in the aggregates market, such as the acquisition of Teko Mining in Serbia, which operates multiple quarries and sells millions of tons of aggregates annually. Additionally, Holcim's acquisition of Comacsa and Utelite Corporation further expands its portfolio in lightweight and low-carbon aggregates, enhancing its capabilities in the construction materials sector. These transactions highlight Holcim's active role in the surface mining context, particularly in sourcing and supplying aggregates, which are critical components in construction projects.


9. Sgs

  • Website: sgs.com
  • Type: Corporate
  • Headquarters: Geneva, Geneva, Switzerland
  • Founded year: 1878
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: sgs

SGS S.A. is a leading testing, inspection, and certification company based in Geneva, Switzerland, founded in 1878. With a workforce of over 10,000 employees, SGS provides independent services to ensure product quality and compliance across various industries. The company has a global presence and offers a range of services including testing, inspection, certification, and training. Notably, SGS has made significant acquisitions that bolster its capabilities in the mining sector. For instance, the acquisition of Geostat Systems International in 2008 enhanced SGS's expertise in orebody modeling and resource estimation, which are critical for surface mining operations. Additionally, the acquisition of Western Geotechnics and Holman-Wilfley Associates further demonstrates SGS's commitment to expanding its services in the mining industry. These strategic moves position SGS as a relevant player in the surface mining equipment sector, as they provide essential services that support mining operations.


10. Normet Group


Normet Group, founded in 1962 and based in Espoo, Uusimaa, Finland, is a corporate investor specializing in innovative technology solutions for the mining and tunnelling industries. With a workforce of 1001-5000 employees, Normet provides a diverse range of products and services, including equipment for explosives charging, sprayed concrete processes, and underground logistics. In recent transactions, Normet has demonstrated its commitment to the surface mining equipment sector by acquiring Rambooms Oy and Marakon Oy, which specialize in boom systems and hydraulic attachments for construction and mining. Additionally, Normet acquired Garock Pty Ltd, a manufacturer of ground support systems for the mining and civil industries in Australia, as part of its strategy to enhance its portfolio in the Asia-Pacific market. These strategic moves highlight Normet's focus on expanding its capabilities and offerings within the mining sector, making it a relevant player in the surface mining equipment industry.


11. Anglo American

  • Website: angloamerican.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1917
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: anglo-american

Anglo American is a corporate investor based in London, England, founded in 1917. The company is a leading mining firm specializing in the extraction and production of essential metals and minerals, including copper, diamonds, and platinum group metals. They focus on sustainable practices while serving various industries that require materials for modern infrastructure and technology. In recent transactions, Anglo American acquired First Mode for $200 million, a company that may contribute to advancements in mining technology, potentially impacting surface mining operations. Additionally, their acquisition of Samancor Holdings and investment in Canada Nickel Company further demonstrate their strategic approach to enhancing their mining capabilities and exploring new opportunities in the sector.



Surface Mining Equipment Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
GlencoreBaar, Zug, Switzerland10001+19783
Rio TintoLondon, England, United Kingdom (UK)10001+18734
MetsoEspoo, Uusimaa, Finland10001+20202
Triton PartnersLuxembourg201-50019976
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
BgfLondon, England, United Kingdom (UK)51-200201153
HolcimZug, Zug, Switzerland10001+191212
SgsGeneva, Geneva, Switzerland10001+18785
Normet GroupEspoo, Uusimaa, Finland1001-500019620
Anglo AmericanLondon, England, United Kingdom (UK)10001+19175


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