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Ritchie Bros. To Sell More Than 60 Caterpillar D11 Crawler Tractors During Huge Unreserved Public Auction Featuring Mining Equipment In North Carolina This September

Big opportunity for mining industry: selection of equipment for the September 27, 2012 auction includes 80+ crawler tractors, 30+ rock trucks, 30+ wheel loaders and more!

First time world's largest industrial auctioneer sells 60+ D11 crawler tractors in one auction; more D11's than the Company has sold in past four years combined

RALEIGH-DURHAM, NC, Aug. 1, 2012 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct a massive mining and earthmoving equipment auction on September 27, 2012 during the Company's grand opening auction at its new permanent auction site in Raleigh-Durham, North Carolina. More than 180 pieces of mining and earthmoving equipment are already featured in the auction, including more than 60 Caterpillar D11 crawler tractors, more than 35 Caterpillar 777 rock trucks, more than 30 wheel loaders and more—selections so large that they're rarely seen in the heavy equipment industry in a single sale. The September 27 unreserved public auction, which is set to take place one day after the completion of MINExpo International 2012 in Las Vegas, is a divestiture of non-strategic equipment from West Virginia based Trinity Coal Corporation. Bidders can register and bid in one of four ways: live and in person at the Company's Raleigh-Durham, NC auction site; via simulcast and in person at the Company's Las Vegas, NV auction site; online in real time at www.rbauction.com; or by proxy.

"We have an unprecedented number of D11's featured in our September Raleigh-Durham auction. In fact, this is more D11's than we've sold in the past four years of unreserved industrial auctions combined," said John Fairley, Regional Sales Manager, Ritchie Bros. Auctioneers. "This large selection of mining and earthmoving equipment is sure to catch the attention of both domestic and international buyers. For those who are looking for anything from big wheel loaders and crawler tractors to massive rock trucks and motor graders—this auction showcases Ritchie Bros. as the place to go when you need mining equipment. And, as with all of our auctions, each item will sell to the highest bidder, regardless of price—with no minimum bids or reserve prices."

"Trinity Coal Corp. had been using the equipment at their coking and thermal coal mining complexes in Kentucky and West Virginia," said David Stetson, Chief Restructuring Officer for Trinity Coal Corp.

"Those in the mining industry will know D11's are primarily mass earthmoving machines. The fleet is composed of 'big rock job' type machines that we primarily used to remove overburden at our coal operations in eastern Kentucky and West Virginia," added Mr. Stetson. "At one time, our D11 fleet was the largest fleet operating anywhere in the U.S."

After being in operation for a number of years, some of the Caterpillar units are currently undergoing a refurbishing process in preparation for the September auction. All powertrain and undercarriage updates are being conducted by authorized CAT dealers. Detailed equipment information, including high-resolution photos of the equipment, is available on our website at www.rbauction.com/bigiron.

More than 60 D11's in a single auction event is a rare find Companies looking for brand new equipment may have to face a wait time before acquiring a machine to put to work.

"If you're looking for a brand new D11 (from the manufacturer), you'll have to add your name to a wait list and the queue is currently long due to high demand for mining equipment in various regions. At the September auction in North Carolina, people will have the opportunity to find a large selection of well-maintained equipment — it's a big opportunity to acquire big iron that you can potentially put to work the following day after the auction," added Mr. Stetson. "There is currently high demand for this type of equipment across the globe, in Canada, Latin America, Asia and even India—with Ritchie Bros. in charge of the auction, buyers in all of these regions and beyond will have an opportunity to acquire quality earthmoving equipment at reasonable prices."

General auction details — Raleigh-Durham, NC ( September 27, 2012):

  • The September 27 mining and earthmoving equipment auction forms part of a two-day Grand Opening auction for the Company's new Raleigh-Durham, NC permanent auction site — taking place on Wednesday & Thursday, September 26 & 27, 2012.
  • The auction is open to the public; registration to bid is free; a refundable bid deposit may be required
  • How to register and bid:
    • In person at the Ritchie Bros. Raleigh-Durham, NC auction site (800 Business Park Dr., Butner, NC 27509).
      • Mining equipment will be sold on Day 2 of a two-day auction ( Sep. 26 & 27, 2012).
      • Site phone: +1.704.873.6633
    • In person at the Ritchie Bros. Las Vegas, NV auction site (10500 Clark Petersen Blvd., Las Vegas, NV 89165).
      • Take part in a live auction simulcast on Sept. 27 — one day after the completion of MINExpo International 2012.
      • Site phone: +1.702.644.2468
    • Online at rbauction.com
      • Create a free account and register to bid online and in real time.
    • By proxy
      • Call the Raleigh-Durham, NC auction site to place your proxy bid over the phone.
  • Equipment is located and available to inspect at various mine sites in Kentucky and West Virginia
    • Phone +1.704.873.6633 to make an inspection appointment. For more information about this auction, go to www.rbauction.com/bigiron.

About Ritchie Bros. Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. offers services that enable the world's builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA : Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.



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