Daniil Victorian, Doofor Inc., Finland, addresses how smart investment plans and the implementation of LEAN principles can help mining companies acquire the right mining equipment for them.
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uarrying is comparatively a simple process; however, it is open to several issues pertaining to logistics, technology, sustainability, and financial performance.
Financial performance The latter is on the mind of every investor, owner, shareholder, and stakeholder that associates themselves with the mining industry. Cost-efficiency is the key ingredient which drives the decision-making process for many
74 September 2021 // global mining review
end-users worldwide. When it comes to acquiring new mining technology, feasibility of use and operator comfort is often discarded, in order to preserve a greater return on investment (ROI). Purchasing mining machinery is a long-term investment, in which capital and operating costs are both taken into consideration. Capital expenditure typically includes machinery costs, as well as the cost of transport and deterioration (residual value). Operating expenditure is comprised of fuel costs, maintenance costs,
