Just how big is the mining business in WA? In a recent profile report, the WA Government stated that during the 2020-21 financial year mining had accounted for 47% of Western Australia’s gross state product (GSP). That equals $169.6 billion. The next highest contributing industry was construction with 5% ($8.2 billion).
With big business comes big issues and one of the biggest pain points for mining management is downtime. Every hour a piece of machinery isn’t operating is an hour of lost revenue. If that machine continues to break down, it becomes a huge problem.
So, how can you avoid these issues? Let’s look at what you need to know before you buy or hire mining machinery.
Should You Buy or Hire Mining Machinery?
The decision to buy or hire mining machinery may be determined by your available capital. Firstly, we’ll look at buying a mining machine outright. It’s an expensive exercise and comes with a few risks and added expenses.
Buying Mining Machinery
Anyone who has had a long stint in mining will know how volatile the industry is. When the industry is booming, money is readily available, and expenses (even large machinery expenses) can be accounted for. However, if the tide turns quickly and the market slows, you could be stuck with a fleet of very expensive assets that aren’t being used and, due to supply and demand, have depreciated considerably.
One benefit of buying outright is that you’ll get the latest model of a particular machine. Just remember to factor in the servicing and any future repairs.
Hiring Mining Machinery
Hiring mining machinery from a reputable provider comes with plenty of benefits.
Service – A specialist mining machinery supplier will not only recommend the right machinery for the job but will maintain and repair the machinery if, and when, needed.
Less Expense – Hiring mining machinery allows you to keep upfront expenditure low. It’s also easier to budget month to month as you know the exact costs.
No Commitment – While you may be interested in buying mining machinery eventually, it makes sense to hire first and test out the machine. Also, you don’t have the hassle of selling it should it not be the right long-term fit.
What Mining Machinery Can You Hire?
Choosing to hire rather than buy mining machinery will allow you to increase or decrease your fleet of machines as needed. Some of the mining machinery you can hire includes:
Production drills are an essential machine for underground mining. The range of drill sizes and their ability to rotate 360 degrees make them suitable for large and small-scale projects.
Available in single boom or double boom, development drills are designed to improve time efficiency and accuracy when mining underground.
Load and Haul Rigs
The underground load and haul machines are designed to move high volumes of material but are built compact to handle underground conditions.
Charge Up Mining Machines
Charge up mining machines improve the safety and quality of tunnelling and mining projects.
Mining Service Machines
Multi-purpose integrated tool carriers are a necessity for mining.
Narrow Vein Mining Machines
When undertaking more precise methods of mining, a narrow vein mining machine is ideal. These can be used for both large and small-scale projects.
Mining machinery brands to consider
When hiring underground mining machines, look for big-name brands.
The three top brands to consider include:
If you’re expanding your mining project and need the machinery to match it, talk to Minspares about their range of hire machinery. Minspares offer quality machines, backed up with mining expertise and ongoing support across WA.
See the range online or contact Minspares today.