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Mining equipment

Achieving Savings of Over 22% in Annual Operating Budget for a Mining Equipment Manufacturer | Market Intelligence Engagement

Mining Equipment Market Overview

Companies in the mining industry are experiencing a tragic setback in terms of losses faced and low return on investment. Besides, increasing equipment maintenance issues, safety of personnel, and decline in the availability of untapped high-quality ore deposit are increasing challenges for companies operating in the mining equipment market. Owing to such challenges, mining equipment manufacturers will need to find new ways to improve productivity while managing costs. Also, exploring the market challenges and taking proactive approaches to tackle them is becoming inevitable for mining equipment manufacturers to gain a competitive advantage.

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Business Challenge

The client is a mining equipment manufacturer based out of Canada.

The company had to spend around 35% to 50% of its annual operating budget on equipment maintenance and repair alone. Also, injuries and fatalities were becoming common in the company. Besides, due to the decline in the availability of untapped high-quality ore deposit, the company had to struggle with lower productivity and profits. They wanted to find innovative ways to keep production running with fewer funds. In addition, they wanted to analyze their competitors’ business strategies and identify processes adopted by them to tackle the industry challenges.

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Our Approach

To help the client in the mining equipment market, our experts followed a four-phased approach that involved:

Market scanning and monitoring analysis to analyze the Canadian mining equipment market landscape. By doing so, the experts helped the client to keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, and identify regional market developments.

Competitor analysis study to analyze how the client measured up against the top ten companies in the Canadian mining equipment market. Also, the experts analyzed the areas where the client struggled and performed well in comparison to their competitors.

Technology assessment to identify the latest technologies and techniques leveraged by the top mining companies in Canada to automate their processes.

Market potential analysis to analyze the profit potential of the company for the next five years.

Results Obtained

By leveraging Infiniti’s market intelligence solution, the client was able to identify the cost-effective technologies leveraged by their competitors to enhance business efficiency. As recommended by the experts at Infiniti Research, the company embedded internet-enabled sensors in its physical assets. These sensors captured considerable volumes of data and helped the client to anticipate the machinery failures or generated alerts when a potential problem was noticed.

To ensure the safety of their staffs, the client invested into smart safety wears. Moreover, they adopted automation processes to control costs and keep up with their production needs. The company was able to achieve savings of over 22% in their annual operating budget.

Want to know more about our solutions for companies in the mining equipment market? Request for more info and our experts will get in touch with your with comprehensive insights.

metals and mining

Major Trends that Will Reshape the Future of Metals and Mining Sector

The metals and mining sector is currently recovering from one of the most difficult periods that it has encountered in decades. Due to increasing market volatility and downturn in commodity prices, now cost cuts, automation, and improved operational efficiency have become the new normal for the survival of metals and mining companies in the long-run. Furthermore, the industry has also been subject to several additional challenges including issues relating to regulation, geopolitical risks, and legal restrictions. Despite all these roadblocks, the metals and mining sector is expected to witness positive growth in the next couple of years owing to the increasing demand. Experts at Infiniti have identified key drivers that will transform the future of companies in the metals and mining industry in the years to come.

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Metals and mining industry overview: key trends to expect

metals and miningTransition to low-carbon economy

In order to meet the current energy transition, the demand for most minerals are expected to be on the rise. Furthermore, given the fact that low-emission energy and transportation systems are more mineral-intensive than their fossil fuel-based counterparts, the transition to energy-efficient options provides a great opportunity for the mining sector. Mining sector companies that power their operations with renewable energy, operate electric or hydrogen-powered truck fleets, and integrate recycling in their value chains will be best placed to sell low-carbon premium minerals.

New financing and production models

Companies in the metals and mining sector are trying to limit risks. As a result, new financing and production models will become more common in the coming years. Financing solutions such as royalty and metal stream agreements that are aimed at reducing the burden on the balance sheets of metals and mining companies will continue to gain momentum.

From energy and sustainability consulting to optimizing the life cycle of your assets, our services are designed to meet your business needs. Get in touch with our experts for more insights.

Geopolitical and economic risks

Metals and mining companies must gain a comprehensive understanding of the geopolitical and economic risks in their market. Factors such as resistance to globalization and free trade are creating a direct impact on the metals and mining sector. Furthermore, import restrictions on semi-finished products including steel and aluminium are at the spotlight of recent trade disputes. Such trade disputes and wars are likely to dampen global commodity demand and disrupt the value chain of mining and metals companies.

Revamping employee base

Modern companies in the metals and mining sector can revamp their employee base by maintaining an open dialogue culture in their organization. Furthermore, due to constantly evolving technology and business models, companies in the metals and mining sector will be required to develop new skills to sustain. Retraining and transitioning programs should be planned by companies in the metals and mining industry to attract new talent as well as to channelize the efforts of their employees to the changing market expectations.

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Market Entry Strategies

5 Digital Trends to Keep Track of in the Mining Industry

The past decade has been nothing less than a roller coaster ride for companies operating in the mining industry. Commodity prices have witnessed both historic highs and lows, and operational realities have shifted irrevocably in the face of the digital revolution. This year too, the mining industry is expected to witness an array of changes. Within the mining and metals industry, digitalization will be a force that changes the nature of companies and their interaction with employees, communities, government and the environment at every step of the value chain. Mining industry companies that embrace digital trends, can expect a more nimble and profitable business, with improved decision-making and increased employee empowerment. Furthermore, when designed and implemented in the right manner, digitalization can improve safety, health, and environmental impact. Thereby, reducing injuries, saving lives, lowering emissions and wastage, and increasing transparency and sustainability of the company. Here are some of the top digital trends that are shaping the future of the mining industry:Request Proposal

  • Artificial intelligence

Artificial intelligence is one of the most popular digital trends in the mining industry. It is expected to be the next big step in the mining industry’s digital transformation. Artificial intelligence is mainly concerned with smart computers that can undertake processes and react like human beings. It can help mining companies gain greater metallurgical precision by identifying promising drilling targets. Predictive modeling of ore-bodies and blast hole drill data can lead to more precise drilling targets, optimal blast, drill patterns, and improved ore fragmentation.

digital trends

Impact of Digital Innovation in the Mining Industry

Mining used to bring fortunes in the past. Not that the scenario has changed now, but the industry as a whole is under pressure due to falling commodity prices and existing mines reaching maturity. Additionally, many reports also state that mining industry is far less productive than it used to be a few years back. Although players in the mining industry are focusing to boost productivity by squeezing the maximum out of the available asset, it’s not a viable long-term solution. It’s not all dark and hazy for the mining industry though, digital and technological innovations Request Proposalare transforming key aspects of mining.

Productivity improvement

Over the past couple of decades, the mining industry has been experiencing a slight decline. The trend can be observed across commodities, geographies, and most mining companies. Although the decline is evident, the performance in this industry is also somewhat lackluster. As a result, most mining companies have trimmed expansion plans and refocused on increasing their operational efficiency. Digital innovation has assisted the mining industry to recover their productivity across the world. The improvement can be evident when compared to other industries such as upstream oil and gas, oil refining, and steel industry. Coordination of activities and smart planning are required to mitigate the uncertainty caused by external forces. Mining productivity can be improved by reducing errors and eliminating the variability wherever possible.

Nature of talent

As digital technologies continue to influence the industries worldwide, companies need to recruit a specialized workforce to operate autonomous machines and turn a mountain of data into valuable insights. As a result, the industry is no longer competing for traditionally skilled workers. They need young talent who is sharp in digital technologies with deep industry knowledge and the ability to improve productivity.

Employment dynamics

The future is now. Automation has been looming around for a long time but coupled with artificial intelligence, a significant number of manual jobs might be displaced. Such situation will impact a lot of local communities which is dependent on employment and also raises concerns about company’s CSR. On the hindsight, automation also paves way for new roles to be created and new job position to be filled. The demand for skilled labor well-versed with automation and digital innovation will be in high demand.

Optimization of equipment and material flow

Mining supply chain is a complicated affair which comprises of interdependent systems of fixed and mobile equipment. Executives in the mining industry have been using tools and metrics such as OEE to gauge operational improvements but fail to grasp the system complexity. Digital innovation has facilitated the scheduling and processing decision-making process by combining real-time data with advanced analytics. For instance, in the mine pit, using smart algorithms can optimize machine movements for maximum efficiency. Additionally, it can also look for hidden relationships between second and third order variables which boosts the plant yield of gold, phosphate, nickel, and other processed minerals.

To know more about how digital innovation has impacted the mining industry:

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solar panel manufacturers

A Beginner’s Guide to Popular Equipment in the Mining Industry

The mining industry could prove to be a dangerous workplace if you do not have the appropriate training or knowledge in handling the equipment and machinery involved. Each type of mining equipment comes with a set of mining activities that it specializes in. The type of mining equipment used varies depending on whether the work being carried out is above or below the ground level, or if the mining is done for gold, metals, coal, or crude oil. Curious to know more about the types of mining equipment and how they can be successfully employed in mining? Here are a few common types of equipment used in the mining industry and their applications:

Mining Drills

Mining drills are one of the most commonly used mining equipment for underground mining operations. Underground mining is carried out when the minerals or rocks are located at a fair distance below the ground level. Drilling helps to separate the minerals from the overburden material; these are then brought to the surface using underground specialized mining equipment like trucks, loaders, diggers, etc.

Blasting Tools

Blasting tools are an essential part of the mining industry. They are used to break down and fracture materials by deploying a calculated amount of explosive to separate the required product and minerals from the waste material. Once the blasting is done, an excavator is used to extract the blasted rocks and other debris.

Earth Movers

Earth movers are one of the common equipment used in the mining industry for above the ground mining. They are specifically designed to work on large earth moving and mining projects to make the process faster and more practical. Earth movers are commonly used for digging, pushing, and transporting the earth using the specialized skills of an operator.

Crushing Equipment

Crushing equipment is used in the mining industry to crush the rocks and the stone. They are designed to achieve maximum productivity and high reduction rate. Crushing equipment are designed to perform a variety of jobs and hence come in different types. Crushing equipment is configured to break down the hard rock matter or gravel to a manageable size to facilitate transportation or conveying.

To know more about the equipment used in the mining industryAsk an analyst

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Pharmaceutical Industry

Market Intelligence Study Helps a Leading Mining Equipment Manufacturer Devise Effective Marketing Strategies

Over the past few years, the mining industry has started witnessing unprecedented challenges in terms of rising energy costs, harsh climates, and water scarcity, which has consequently affected the growth prospects of the mining equipment manufacturers. As a result of these challenges, firms operating in the mining equipment manufacturing space have IR_Brochurestarted advocating the need for robust market intelligence solutions to gauge actionable insights into the marketing, sales, and competitor activities across the industry. Additionally, leading mining equipment manufacturers across the globe have started leveraging the use of market intelligence solutions to effectively build marketing and sales strategies to retain their existing customers. Such solutions also help renowned firms operating in the mining equipment manufacturing space to better position their marketing campaigns and investments.

To identify and devise effective strategies across business units, leading mining equipment manufacturing firms are approaching companies like Infiniti Research. With years of proficiency in offering a plethora of similar solutions, Infiniti’s market intelligence solutions help clients gain a deeper understanding of the competitors and their product positioning.

The Business Challenge

A renowned mining equipment manufacturing client with a considerable number of business units spread across the globe was facing predicaments in understanding the market dynamics and accordingly devising robust marketing strategies to stay ahead of the competition. As a result, the client wanted to leverage the use of Infiniti’s market intelligence solutions to gain a comprehensive view of the company’s existing market presence, challenges, customers, and the competition prevailing across the mining equipment manufacturing space.

Our Approach

To help the mining equipment manufacturing client understand the target segment and accordingly devise robust marketing strategies, Infiniti’s market intelligence experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in this industry space. Additionally, the research team gathered information from various exclusive sources such as paid industry databases, newsletters, and company presentations.

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Market Intelligence Engagement Benefits

  • Gathered information on various data sets and analyzed the information across multiple sub-segments
  • Gathered information into the competitor’s landscape and better understood the customer needs
  • Gained precise information relevant to company’s markets and made informed business decisions
  • Helped client enter new markets and minimize the risk of investments
  • Robustly tailored marketing campaigns around customer needs

Benefits of Our Integrated Approach

In a span of ten weeks, the mining equipment manufacturing client was able to understand the competitive landscape and provide a quick and concise overview of the mining equipment market. Additionally, the client was able to improve their marketing effectiveness and brand awareness across business units.

A must-read case study for strategy experts and decision makers looking to develop an understanding of the mining equipment manufacturing segment


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