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Value of New Mining Equipment

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Value of New Mining Equipment

The dilemma of investing in new mining equipment which costs heavily, or used equipment which has the risk of becoming outdated soon, haunts most mine operators. Crownsmen Partners President Jerrod Downey and Director of Management and Training Gaudy Molina interview Jan Petzold, CEO of German mining equipment provider GHH-Fahrzeuge (GHH) during the Crownsmen Podcast to get his views.

Formed in 1964 GHH is a privately owned company which specializes in underground trucks and loading i.e. transport equipment. GHH is a fairly new entrant in the North American market but their main markets are Europe and Southern Africa and they are present in India as well. “Canada is a well established market and our trucks and other equipment are state of the art and we are not worried about keeping up with the competition” says Petzold. Although they target both hard rock and soft rock operations, Petzold feels that they have to bear in mind that they are entering a relatively well established market in Canada and the legislations regarding engines and emissions in the recent years have changed. So the biggest challenge for them would be to breakthrough an already established supply chain and meet with the standards. Petzold targets to do this by having USPs about their products in terms of longer operating life, better performance and low operating cost.

“Even personally, something new has a greater value than something used, even if you have the same type of warranty on it. Benefit of new is that you have state of the art equipment with lesser worries about maintenance. With used there is always a worry of using an equipment which has an older emission class engine. So for this we offer our customers, retrofit and rebuild services where we take the machine back (not buy it) and rebuild it so that up 70.0% of its original life is restored. The benefit for the client here is that a big a portion of the capital investment he made years ago can be restored” says Petzold regarding the type of equipment to have for mining operations.

 

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