Purchasing Trends and Intentions in Australian Mining, 2014

Date: 2015-09

“Mining equipment is one the major areas of expenditure for a mine. With the Australian mining industry currently facing a lack of available capital, pressure is being applied on purchasing decisions, which is resulting in changes in procurement strategies and behavior.
Understanding the changes in procurement behaviors is critical for mining equipment and service suppliers.
In an effort to gain insight into this issue, in February and March 2014, Timetric surveyed 110 mine managers, maintenance managers, procurement managers and other key decision-makers currently working in 90 Australian mines. Respondents were asked specific questions about purchasing methods and expectations concerning future expenditure for mining equipment.
Key findings include:
– Despite being the dominant method of equipment purchase, outright purchase is expected to fall significantly in the next two years;
– More respondents see rental agreements increasing than any other method;
– Plant and heavy equipment will see the largest expenditure cuts within the next 12 months.”

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