There have been a number of changes in the mining industry in Australia within the past decade, but there is one thing that has remained constant: mining would not exist without functional mining machinery. Availability might change, demand may decrease, but machinery is essential regardless of industry fluctuations.
Since it is such a vital asset to mining, it is important to make sure your heavy machinery is well taken care of. If you are stuck questioning whether to rebuild or replace mining machinery, there are a few things to consider carefully.
Rebuilding Mining Machinery: The Benefits & The Costs
If you choose to have your equipment repaired or rebuilt, you are one of many. According to Ibisworld, the machinery servicing segment is responsible for an estimated 41.3% of heavy equipment servicing and maintenance in 2014-15.
There are a number of benefits to repairing or rebuilding your mining equipment. The first and foremost benefit of choosing to restore existing machinery is economic savings with a substantial reduction on new price. The machine is stripped, inspected, and reworked to comply with original equipment manufacturer (OEM) standards. The customer also has the ability to add site-specific requirements to the work scope.
In addition to reducing your upfront costs, fixing existing heavy machinery will result in many more years of usability and will reduce waste. You can add product improvements and upgrade existing components to ensure a high level of availability, but more important is ongoing reliability.
Despite the many benefits, there are a few opposing qualities. Depending on the condition of the machine, rebuild costs can vary and its critical to understand the total cost incurred: both the direct cost of the rebuild and the reliability of rebuilt components.
Another potentially big cost is machine downtime. Carefully evaluate if you can operate without the machinery. If in doubt, talk to the machine rebuilders for an estimate on equipment downtime, and availability of a bridging unit.
Replacing Mining Machinery: The Positives & Negatives
If you choose to replace your equipment for new equipment, you can be confident the new product is in good condition.
If you are looking to buy second hand equipment, now is a good time. The average value of a typical machinery fleet has decreased 64% in two years. If you are contemplating buying new or used machinery, you will also have to deal with getting rid of old, non-working machinery.
If your machinery does not yet need replacing, you should still be thinking about the future of your gear. Preventative maintenance is the best way to keep your valuable vehicles in top condition and avoid expensive fixes later on.
Construct a maintenance plan to ensure that your equipment remains in its best condition. Inspect regularly and replace parts as needed.
What Is Best For You?
Recommendations vary depending on the age, condition, usages, and budget available for your machines.
If you are looking for a new quality machine at a higher price, replacing your equipment may be the best option.
If you would rather save money and repair your mining machinery, you can still get as-new products that meet OEM specifications, with minimal downtime.
Want more information? Contact Minesite Mechanical Services today to learn more and get a quote.