The deal includes almost 70 pieces of new Cat equipment, including off-highway trucks, hydraulic shovels and various auxiliary equipment. Candelaria will take delivery of the fleet additions in the coming three years.
Finning will also oversee the maintenance of the machines.
The company’s South American president Marcello Marchese noted that this order is the first significant one in Chile for the Cat partner since 2014, when the market began to wane.
“As activity in the mining sector begins to improve, we are well positioned to capture equipment and product support opportunities,” Marchese said.
Finning International, headquartered in Vancouver, Canada, is the largest Cat equipment dealer in the world with locations in western Canada as well as Chile, Argentina, Bolivia, Ireland and the UK. Lundin’s portfolio includes assets in Chile, Portugal, Sweden and the US.
The purchase news comes just a few weeks after Finning released its September quarter financial results, which outlined higher revenue, a 25% uptick in new equipment sales year-on-year, and an increase in gross profit as it continues efforts to transform its global supply chain.