Emeco Holdings Wins Five Year Equipment Contract
Chilean mining contractor Fe Grande has awarded Emeco Holdings with a five year equipment hire and rental contract.
"This is a major win for Emeco in Chile and provides an excellent platform over the next five years to further grow the Chilean business and look for future expansion in Latin America," Emeco CEO Ken Lewsey said.
"This significant project will utilize up to $64 million of our Chilean fleet and represents over 50 percent utilization for this business unit.”
The contract is expected to generate roughly $32 million annually over the period of the contract.
"It supports our longer term ambitions in creating additional value in diversifying our business across geographies, commodities, and services," Lewsey said.
Since 2002, Emeco has implemented more than $100 million worth of fleet.
Fe Grande is a Chilean contractor engaged in the construction of public works projects including highways, bridges, mine site development, tunnels and hydro plants.
Mining equipment growth
According to a new market report by Transparency Market Research, the global mining equipment market is expected to reach $117 billion by 2018.
Large project in Brazil, Russia, Australia, Africa another regions are expected to drive the mining equipment industry in coming years. The surface mining equipment sector accounts for nearly 37 percent of the market.
Asia Pacific accounted for the largest regional market for mining equipment at 60 percent. The region is expected to be the fastest growing region in the coming years due to increased production and related machinery sales in India, China and Indonesia.
Coal India Secures First-Of-Its-Kind Digital Deal
Coal India Limited (CIL) has appointed Accenture Solutions to digitally transform seven of its open-cast mines as the company strives to improve performance and increase coal production. Accenture is due to lay down digitalisation groundwork until March 2022.
The deal aims to increase coal production by 100 million tonnes (MT) by the end of FY’23. Once the minimum quantity has been surpassed, an agreed sum will be paid to the consultant for every additional sum of coal produced. This success fee will only be paid on the procurement of the minimum assured quantity.
The move will see heavy earth moving machinery (HEMM) fitted with digital sensors to monitor performance efficiency at all levels. Additionally, modern data analytic techniques aim to increase mine productivity and project monitoring through functional system management and effective observation.
An Exciting Venture For Global Mining
CIL, which aims to provide energy security in an environmentally and socially sustainable manner, hopes the move will help transform the entire business of mining operations and ensure higher volumes of coal are acquired at a lower cost.
“This is a first of its kind initiative by the company utilising digitalisation to ramp up coal output,” CIL has said.
A Digital Step Towards Enhanced Performance
Digitalisation is expected to take place at open-cast mines in Kusmunda, Gevra, Dipka of Southern Eastern Coalfields (SECL), Migahi, Jayant, Dudhichua, and Khadia of Northern Coalfields (NCL). Nearly 32% (188 MT) of CIL’s 596 MT output in FY’21 was accounted for by the seven selected mines. However, this new deal is set to see a large increase following the subsequent digital changes due to be made.
“Learning from the outcome and success of this model, we may replicate it in our other large mines,” says CIL, optimistic about the future following the modernisation of their mining.
It is expected that the move will help address roadblocks and guarantee corrective measures are put into place, ensuring the company is able to move forward with its aim of increasing output whilst remaining sustainable and eco-friendly.