Market Impact on Mining Tech
Business Insights
“Exploration market swings are high, creating a major challenge for suppliers focused on this industry, and we need to develop a resilient model on how we develop our factories to ensure that we can create more jobs.”
Hélène Coulombe, Vice President Sales and Marketing, Pilot & Co.
“In the last year there has been a lot more focus from the mining industry on rebuilding and maintaining old equipment rather than buying new gear.”
Darryl Gutscher, President, Wabi Iron & Steel Corp.
“Due to the cost of our equipment, a complete repair process is often cost-prohibitive, meaning that we have not noticed many companies prioritizing maintenance as they would with larger pieces of equipment they may have on site.”
Hugh McDermid, Vice President, Product & Business Development, Miller Technology
“Generally, production mining tends to have a steady output, while exploration companies experience more fluctuations depending on the market. Some projects that were planned for early 2023 were delayed, pushing drilling activities later into the summer.”
Benjamin St-Onge, Regional Manager, Canada, Axis Mining Technology
“The rapid rise in mining costs has pushed major companies to adopt more cost-conscious and efficient operational strategies, influencing their approach to acquiring and maintaining equipment and fleets.”
Chad Tolonen, President, Timmins Mechanical Solutions
“Electrification is a major trend, but fully replacing diesel haul trucks will take decades. Some companies are delaying truck purchases until electrified options become more accessible.”
Kevin Dagenais, CEO, Cascadia Scientific
“Other industries are often more advanced in implementing monitoring systems and improving recovery rates during processing, which the mining sector could adopt to reduce waste and improve efficiency.”