To make any mining operation successful requires planning and logistics. If you are involved with a project, you have no doubt considered whether to buy or hire your mining machinery.
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In this article, we are going to discuss the pros and cons in the hope it will provide the right solution for your circumstances.
Buying machinery equipment is a huge capital investment. There is also the additional costs of maintaining and repairing the equipment (and contracting a professional to do so). In a time where the future of many mines are uncertain, this may not seem like the most feasible idea as you might not be able to get a return of investment.
For some operations, it might be more economically viable to hire. Yes, you do not own the machinery outright, which can have its limitations, but you do have access to the latest, high quality mining equipment.
When you hire from a quality provider, you will get a high level of service and support. The team will be able to recommend the right machinery for your requirements. Additionally, you will not need to employ someone to maintain and repair the equipment &#; one of their specialists will do it for you.
To show how hiring is actually budget friendly, let us use the house market as an example. When you rent, you are giving another party money instead of investing in your home (mortgage). Some people see that as dead money. While owning your own property is beneficial, it is sizable venture that not only requires the initial purchase, but further costs associated with fees and maintenance. If you are unable to keep up with the repayments, you may even risk losing the home.
Like renting, hiring mining equipment keeps your expenditure low (as well as risk of financial loss) because you do not need extra capital to properly manage and maintain it. It allows you to keep with an allocated budget because you know exactly what your costs will be from month to month.
You only hire as long as you need to. If you own the machinery and the project ends, you will have to go to the trouble of selling it &#; and you will not get what you want for it because it will have depreciated in value.
One of the benefits of hiring any sort of equipment is it gives you time to trial it before a potential purchase. This will help you ascertain whether it is worth buying outright.
The most apparent negative to hiring is you do not own the machinery. This can quite a disadvantage if you rent for an extensive period, as it may end up costing you more than buying the machinery outright.
The other con is machine availability. During the height of the boom, the wait list for hiring equipment was exceedingly long, which pushed project schedules out. However, that has all changed. The current demand for hire equipment is much less, meaning the waiting time has decreased.
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Mining has experienced a down turn in certain parts of the sector, but that does not mean the party is over. In fact, according to mining production forecasts, it means just the opposite. Between now and /20, production volume and commodity prices are predicted to grow [source]. What that means is the lead up time for machinery purchase and hire will increase. Therefore, if you need mining equipment, it is best to beat the forthcoming demand and hire as soon as possible.
Category: Mining Equipment | 08 June
The mining machinery segment comprises equipment that is used at mining sites to increase the mining output and facilitate ease in raw material transportation and extraction. Typically, the mining machinery market can be majorly segmented by type (surface mining, underground mining and mineral processing equipment) and application (metal mining, mineral mining and coal mining). Since, there are a lot of equipment options available and the fact that mining machinery can greatly improve the quality of production, increase project efficiency, cost savings, profitability and safety at any job site, selecting the right mining machinery is very important. There are a number of factors that need to be considered. In order to help you pick the best-suited equipment for your requirement from various mining machinery manufacturers in India, here are 5 tips that you can consider...
1. Topography of the mining site: It is important to ascertain the mining site type like whether the site is uneven, rocky, hilly, or has loose soil, as this can help in selecting the appropriate equipment. Even the weather and climatic conditions matter a lot and should be considered. Heavy duty and weather-resistant equipment are necessary as moisture at the mining site can greatly impact the effectiveness of the equipment.
2. Safety of the job site and workers: There is no doubt that modern mining machines are safer than their previous counterparts but that does not mean that they are 100 per cent safe. Mining operations are undoubtedly dangerous operations and on top of it, there are always workers on the job site, so choosing a machine with the right safety features is important. Only equipment from mining machinery manufacturers in India should be selected that meets international safety standards.
3. Efficiency and reliability of the equipment: The ability of the mining equipment to extract materials with less energy per revolution can reduce the overall cost of the machinery and increase efficiency in the longer run. So, when looking for mining equipment, energy per revolution, impacts per minute, extraction time and faster cycle times with less effort should be considered. Further, choosing mining equipment with parts specifically designed for your operation and with exceptional ratings should be preferred as they increase the reliability of the equipment. Various modern equipment from mining machinery manufacturers in India offers better output as well as better rates and yields than the older models.
4. Cost of the equipment: The cost of the equipment is also an important consideration. Here, cost not only means the purchasing cost but includes other allied expenses also like commissioning, transportation and insurance. Only after including all these things, the right production cost can be ascertained and the right buying decision can be made. In order to drive down the cost, you can invest in a machine that promises a lower cost of operation, increased fuel efficiency, low maintenance cost and optimum uptime.
5. Experience of manufacturers: You need to work with trusted manufacturers in order to get truly exceptional mining equipment. So, always authentic manufacturers who are approachable at the time of any problem should be considered. The best thing is to always select a manufacturer who can extend immediately after-sales service if there is any need. Here, Sany India&#;s mining machinery deserves a mention. Mining machinery manufacturers in India like Sany offer exemplary machines which include mining trucks and underground mining machine solutions like road headers and coal mining machines. Extraordinary in nature, this equipment perfectly meets your requirements, if you are looking for efficient, reliable and robust machines with low operational costs.
There is no doubt that selecting the right mining equipment is a daunting process but with proper research and consideration of the above pointers, it can become an easy task. Particularly, Sany India, one of the best mining machinery manufacturers in India, can be your right bet when selecting the mining equipment for your job site.
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