One more chapter is being written in India´s story of economic recovery, with the uptick in growth prospects of the mining sector.
Globally, the mining sector is de-growing by 20-25 per cent, but the fact that India´s mining sector is likely to grow by a similar percentage, is the predominant sentiment amongst the country´s equipment and mine owner community. Government reforms in the mining sector, its initiatives to privatise mining and drive public sector undertakings like Coal India to put their act together, are some of the key drivers of growth.
Even in non-coal mining segments like iron ore, bauxite, limestone, copper, zinc and precious metals, positive signs of recovery and growth are being witnessed. In turn, these would translate into high growth prospects for the industry, over the next few years.
Being explicitly positive, Subhasis Das, Vice President, Sandvik Mining and Rock Technology India, says´With the government reforms that are aimed at boosting production from the mining sector such as the ´Make in India´ initiative, I foresee a solid growth from the mining sector, given the fact that India is bestowed with abundant mineral reserves. Coal India´s production has been growing and though there is a temporary slowdown in the last few quarters, production will be back on the growth path in the near future. The ´Power for all by 2019´ missive will also drive domestic thermal grade coal, and gradually, imports will be tapered down. There is also an increased focus in increasing production from underground mines, which historically was reducing since nationalisation at a rate of almost 1 MT per annum. Recently CMPDIL also worked out a roadmap to reach UG Coal Production of 100 MTY by 2020. Most of this growth will come from mechanisation of brownfield existing UG mines and greenfield projects. There is also an upsurge in exploration activities. However, some challenges that continue to daunt the growth in the mining sectors are the lack of adequate infrastructure for transportation, environmental clearances and global slack in metal commodity price.´ However, Das adds on a cautious note,´There are challenges, but driven by internal consumption based GDP, the demand for metals and fossil fuels will continue to grow for the next few decades.´
Shib Bhowmik, Country Head, Joy Global (India) Ltd is wary and comments,´Coal production in India has grown in single digits in the last two years. If coal production by Coal India has to reach 1 billion tonnes by 2020, then it needs to increase by 18-20 per cent in rest of the years till 2020. That is very unlikely - even the current coal demand scenario will not support that.´
With a positive outlook, Dimitrov Krishnan, Vice President & Head, Volvo CE India, visualises the mining landscape in the country,´The prospects are very good for machinery in the mining sector. Coal India Limited is looking to boost its annual production to 1 billion tonnes by 2020 (and there´s even talk that this will be increased to 1.5 billion tonne), which is almost double its 2014 level. In addition, the government is looking to divest a number of coal blocks to the private sector for development by other operators. The only downside to the current situation is the ongoing low commodity prices we´re seeing globally. Although this does bring greater demand for higher capacity equipment with greater efficiency, which is good news for Volvo CE given our leadership in producing such machinery. In the coming months, we are planning to introduce more new machines in India that will help boost mining output further still and help the country meet its ambitious plan to deliver the energy India needs to fuel its ongoing social and economic progression.´
Siddharth Kirtane, Head Sales & Marketing - Value Trucks, Mining Business, VE Commercial Vehicles Ltd elaborates,´Iron ore is opening up gradually and the pace is expected to accelerate on the back of regulatory clearances and pick up of the infrastructure segment and overall automotive industry. Coal stock in plants and stock piles has risen and there is still uncertainty surrounding off-take. This has muted the potential growth in coal, which is driven by CIL´s accelerated coal production plans. Limestone is expected to pick up with larger scale activation on road construction and subsequently expected pick-up in real estate. Overall the outlook is positive.´
Ratan Sharma, Director - India, Allenwest Ampcontrol India Pvt Ltd sees a bright future,´The move towards increased mechanisation and favouring underground as opposed to surface mining promises increased opportunities for Ampcontrol UK and its Indian subsidiary Allenwest Ampcontrol India.´
Confirming the growth prospects, NN Savant, Founder, Ultra Group of Companies, confirms the growth prospects,´After a distressed and depressed 2015 for the mining industry, the government has strived to restore confidence with the auction of new coal blocks and the passage of the MMDR Act in March 2016. If properly implemented, the growth of the country would be accelerated for the next decade due to mining industry. Specific to equipment service, it is expected the continuing trend of full maintenance contract (FMC) model; it is not certain whether the mining sites size will increase leading up to larger equipment, nevertheless total cost of ownership (life time cost) concept will drive purchasing decisions, so equipment supplier will develop into a service provider. Technology too will evolve in these lines including remote access of data on a continuous basis using SCADA.´
Equipment demand outlook
For our understanding, it is imperative to note that mining activity is carried out in different working environments like surface, underground, river beds and even river side, for extracting materials meant for specific industry segments. Secondly, the same equipment is not applicable across the board. In fact, equipment suppliers offer application-specific equipment and solutions, including mining management software and monitoring systems to the mine owners, to help them achieve operational and financial excellence in every aspect of mining.
Bhowmik informs,´From Joy Global´s perspective, coal is the main source of demand for mining equipment, because for other minerals, the size of mines in India is relatively small, and these mines do not employ high technology and big capacity equipment that Joy Global manufactures. There is limited scope in iron ore, lime stone and copper.´
According to Krishnan, the majority of mining in India is surface mining. He adds,´We believe the opening up of mineral deposits for FDI will have a very positive impact on the mining business in India. It will attract the brightest and the best, and benefit the mining industry as a whole. There´s already a strong focus on maximising cost-per-tonne of production in the Indian coal industry, but this incorporation of the private sector into the business will see a much stronger push to productivity.´
Krishnan opines that mining operators know they need to get maximum efficiency from their operations, but now they also need to combine that with maximum capacity.´It will unquestionably impact Volvo CE as we´re an established leader in the supply of productive and fuel efficient equipment, and we´re also introducing several higher capacity models this year which will only strengthen our position. To support the current and projected demand in the Indian mining sector, we´ve also created our own mining sales and service division, specifically to cover the industry,´ he further adds.
Das says,´The Indian mining sector is dominated by coal and iron ore giants followed by the bauxite, zinc and copper mining companies. Major players like Coal India, Singareni and Tata are not only focusing on aggressive production targets for achieving 1.5 billion tonne by 2020, the focus is also on increasing production with increased operation efficiency, safety and profitability. This has increased the need for mechanisation. Coal India is continuing to invest in equipment and washeries and material handling systems for its open cast mines and underground mines. In the segments where we operate, there is a significant upsurge in demand for high capacity HEMM, surface miners and continuous miner packages.´
Das has also contributed in this journey towards higher productivity and safety by introducing innovative products like Bolter Miners for the first time in India. This miner MB 670 is highly productive and has created productivity history in many coal producing countries globally for the last 20 years. It has been awarded the best capital equipment for UG coal mining in the past by a leading organisation. By early 2017, two of these bolter miner packages will be operating at Bharat Coking Coal Limited in one of the deepest mines of Coal India, developing gate roads.
Das is also engaging with coal companies for production of manufactured sand from sandstone for purpose of stowing in bored and pillar mines. This would improve extraction percentage from UG coal seams, reduce wastage of the invaluable fossil fuel, and help conservation of coal.
Companies engaged in iron ore mining have been investing in highly productive hydraulic top hammer drills, which are much more fuel efficient and save enormous amount of money on overall drilling cost, for miners and drilling contractors . The increased demand has also necessitated the use of high capacity crushing plants and introduction of newer technologies. Sandvik Mining and Rock Technology again plays a significant role in this sphere.
In zinc mining, the Vedanta group is the leading company in the world and there is a plan for average annual growth of 9.3 per cent during 2016-2020. This creates a significant demand for high capacity UG loaders (17 T , 21 T), UG trucks (60 T, 65 T) and intelligent production drills and multi-boom development drills.
Kirtane is more focused on the equipment utilisation aspect. He says,´The primary minerals like coal, iron ore and limestone will continue to represent most of equipment purchase - transport and otherwise. Demand for coal declined further this quarter due to lower off-take by power utilities across India. High coal stock piles have built up both at the power plant and mine yards. At the end of the June quarter, coal was stockpiled at power plants and mine yards, enough to produce power non-stop for 21 days. Whereas, at the end of the September quarter, coal was stock piled at power plant and mine yards enough to produce power over 50 days of operation. Low coal off take has lowered the utilisation of equipment in coal mining and transportation in some pockets. Announcement for new projects for coal mining can therefore be expected to get impacted in the short term. However, coal over burden removal is not expected to be affected much since Coal India continues over burden removal to expose coal. This also means that overall, in the long term, the outlook for coal continues to be positive. We are seeing some movements in iron ore segment but production volumes are still low due to partial lifting of ban and cap on production.´
Kirtane elaborates,´Other factors for low demand of new tippers in the iron sector are the current idle fleet/low fleet utilisation level and uncertainty on BS IV vehicle registration in these states. But demand for iron ore is expected to pick up on the back of steel requirement, which is the raw material for many industries. Limestone mining is expected to pick up with cement demand coming up due to infra and road projects. An uptick of equipment purchase can be expected with the activation of road construction projects, particularly the state highways and rural roads, which are expected to be concrete instead of the usual bitumen.´
According to Bhowmik,´The latest policy initiatives will take time to translate into any significant change in demand of mining equipment.´
Krishnan says,´The Government of India´s well-publicised drive to increase coal production in the country has seen their previously announced target of 1 billion tonnes of annual output by 2020 now increased to a figure nearer 1.5 billion tonnes. Naturally, there´s only one way this target will be met, and that´s through the use of bigger machines that can work more effectively.´
´The government´s policy initiatives spell out a positive outlook. The overall emphasis on manufacturing, construction and infrastructure sectors is closely tied to an upstream demand on mining. Further, the opening up of iron ore mining and extension of iron ore mining licenses (the September 2015 amendment) are positive developments which have stirred up mining activities in Odisha, Karnataka, Chhattisgarh and Goa. The MMDR Amendment act, 2015 was enacted to amend the MMDR Act, 1957. Some of the important provisions of the amending Act are: (i) grant of mineral concessions through auction by competitive bidding; (ii) extension of validity of lease period of existing leases; (iii) establishment of District Mineral Foundation for the benefit of persons and areas affected by mining operations; (iv) establishment of a National Mineral Exploration Trust for the purposes of regional and detailed exploration; (v) simplification and removal of delays in the method of grant of mineral concessions, and (vi) stronger provisions for checking illegal mining.
The Act addresses the issue of second and subsequent renewals remaining pending, leading to closure of a large number of mines. It provides that mining leases would be deemed to be extended from the date of their last renewal to 31 March, 2030 (for captive miners) and till 31 March, 2020 (for merchant miners) or till the completion of the renewal already granted, if any, whichever is later,´ says Kirtane.
He elaborates,´It was expected that this would immediately permit such closed mines to start their operations. So far, the biggest impact of the amendment has been seen in Odisha. Odisha is the largest iron ore-producing state and its ore production went up nearly 50 per cent in 2015-16 from 47 MT to 80.86 MT. This came on the back of the state government´s swift orders to extend the validity of mining leases after the enactment of the aforementioned Act. The state government has already extended the validity of 60 mines. More mines are expected to restart operations later this year.
For coal mining to sustain steady growth, the government needs to ensure coal off-take by power plants from CIL picks up. CIL´s plans to touch the 1 billion tonne mark by 2020, which we expect can be achieved only by 2022-23, is likely to be delayed further. The government´s focus on road construction is high, but the pace can be expected to pick up in a robust way with the Land Acquisition Bill in place.´
Sharma says,´The change in policies has improved prospects, but progress in India is still slow, which delays project execution.´ Das opines,´The latest policies, if implemented in spirit, have a major potential to increase the power demand. So for sure, we can expect an upside in the mining GDP. The Smart Cities, freight corridors and NHAI expansion plans will also have an increased demand for cement, aggregates, coal, steel, and other heavy metals. The mining industry is poised for sustainable growth for the next few decades. The speed at which these policies are implemented and executed will define how steep the growth curve will be, and what would be the timelines.´
Opportunities & challenges
Bhowmik says,´There will be opportunities for more environmental friendly technology and more safe and autonomous machines as awareness and regulations about these issues become important. These issues will decide sustainability of mining in the future.´
Krishnan explains,´The challenge in doubling capacity is huge. The infrastructure and design of mining sites needs a complete upgrade. Equipment fleets need to be completely revamped. It is a hugely ambitious target and there is a lot of pressure associated with it. Of course, the government needs to fully support the move to double production and it has certainly got off to a positive start. There´s a multibillion dollar budget commitment of Rs 57,000 crore for equipment purchases, and it´s important that these investments begin at the earliest stage. Beyond this, we´ll need to see very clear lines of communication between government, industry and contractors to ensure that views are aligned and the whole process is under constant review.
For us, as an equipment manufacturer, the biggest opportunities lie in the anticipated increase in output. With Prime Minister Modi having tasked the industry with delivering 1 billion tonnes of coal per year by 2020, mining companies must increase their output at existing sites and look to develop new sites. And the route to higher output is clear: it requires bigger and more productive machinery.´
´It is well-known that the largest coal reserves in India are in the more remote parts of the eastern states where transport infrastructure remains a problem. However, there has been significant investment in recent times and we are seeing marked improvements in the situation. This has been driven both by Coal India and the Government of India. Both rail and road networks have been improved and investments are ongoing. There´s no doubt that a strong transportation network is essential to the success of India´s coal mining industry, not least because of the requirement to move mined coal almost immediately after its removal from the ground to ensure optimal quality. But we are confident that the resources are in place to ensure this vital work continues,´ adds Krishnan.
Das says,´India is still at a very nascent stage as far as large-scale mechanisation and automation in the mining domain is concerned. Mechanisation in itself cannot achieve anything unless the capital equipment is utilised to the maximum potential in a disciplined and consistent manner. History tells us that many mechanisation drives in the past did not yield the desired results as the disciplined maintenance and operation regime was not adhered to.´
He says that this calls for training of engineers to improve functional and operation skills.´This requires embracing the culture of discipline and change in mindset. Quick fixes cannot lead to long term success,´ says Das.´However, the silver lining is that Generation Next in India has proven itself in IT, hospitality and in many other industries. With the domestic demand growing, the change is inevitable in the mining sphere as well.´
Sharma says,´Low market price for coal appears to be delaying the major investment that has been expected in India, and this is a major challenge to companies such as Ampcontrol who want to set up (shop) in India. There has to be a visible level of business good enough to justify the investment.´
Savant opines,´Government funding for infrastructure industry - roads, ports, power, steel manufacture etc will increase demand of core minerals and in turn mining industry. Hence government mobilisation of funds and easy to invest climate in infrastructure is fundamental to create a spurt in mining activity.´
Mining contract trends
Bhowmik comments,´As far as coal mining is concerned, more than 90 per cent is produced from surface mining, and this will not change in the near future. Joy Global offers blast hole drills, high capacity electric mining shovels, hybrid mining shovels, large wheel loaders, crushers and conveyors, including high angle conveyors for surface mining applications.´
Krishnan explains,´Our EC480D, a 48-ton rated machine, has been the best-selling large capacity excavator in India for a number of years, and a particular favourite of those in the mining industry. At the end of 2015, we answered customer calls - mainly from customers in the mining industry - for an even bigger unit with the launch of the 75-ton rated EC750D and several of these are already in the field, helping mine sites boost their productivity. And not only are output levels increased with the new EC750D, its powerful Volvo D16 engine offers industry-leading fuel-efficiency, while the superior Volvo reliability - backed by a 10,000-hour warranty - means that costs and uptime are both optimised too.
On articulated haulers, Krishnan says,´Interestingly, we´re also seeing greater interest in our range of articulated haulers among customers in the Indian mining industry. Volvo CE was the inventor of the articulated hauler and the product is celebrating its 50th birthday this year. While it´s remained something of a niche product in India, we´re now seeing greater interest from mining operators who recognise the significant gains in productivity that these units deliver versus traditional trucks - particularly as they look to boost mining operations in areas that might be less accessible.´
He adds,´Above all else, mine operators want equipment that delivers the best value in terms of productivity. Equipment managers at most mining companies use detailed analyses to examine the cost-per-ton of every piece of equipment they are assessing. In practical terms, this means they are looking for a machine with the lowest possible operating costs, the maximum output and the highest levels of reliability and durability. Volvo CE meets all these requirements, which is why our excavators are a clear market leader when it comes to higher capacity units found in the mining industry.´
Krishnan also highlights on the fuel efficiency of Volvo CE range,´Superior design and engineering means our machines deliver capabilities that rival manufacturers cannot match. At the same time, we have industry-leading levels of fuel efficiency, which lowers spending for owners, while the well-known reliability of our machines is backed up with significant warranties.´
Das explains more holistically,´There are several contracts which are ongoing and new ones to come in surface coal mining. Coal India´s production has been growing at a much higher rate (8.8 per cent in the last few quarters), than what it was doing in the previous years. This certainly calls for additional contracts for over burden removal, as well as coal production. There is also a tilt towards becoming a buyers´ market and Coal India is focusing to adhere to the promised quality and thermal value as per the signed FSAs.´
Das says that there is also an increased focus in increasing production from underground mines, which historically was reducing since nationalisation.´Joint workshops are being done involving major contractors and OEMs from India and abroad to participate in this growth journey. However, the private coal block owners are not in a frenzy to invest in assets and contracts, considering the historical lower spot prices of both thermal and metallurgical coal. Hopefully some of them will focus on mining with some price stabilisation that has happened. Many steel producers have recently shifted from using pet coke to coal, which will continue if the global market price remains stable.´
He adds,´There is also an upsurge in exploration which requires deep core and reverse circulation drilling, and many Indian contractors are very actively engaged in these contracts. With the southward trend continuing on the metal commodity prices, capex investment may be deferred by big metal giants, and that might open doors for professional contractors who are ready to invest in assets to venture into metal contract mining. There are also some opportunities opening up for the copper mining industry in the eastern part of the country.´
Das further explains that Indian contractors are traditionally more focused towards initial capex spend, but gradually there is an increasing trend when contractors are moving towards value based or life-cycle costing based purchases. According to him, what still needs to be addressed by mine owners is to design contracts of capacity and value that justify high end equipment.
´Basically, what Indian contractors typically look for is to depreciate the capex spend within the lifetime of the same contract, and that if the contracts are not of significant value and tenure, they do not support increased productivity and savings due to economies of scale,´ he adds.
Kirtane says,´The mid-premium tipper industry volumes slowed down in the last two quarters due to the monsoon. It is expected to pick up in the last calendar of this year. With project sizes increasing, there is a need for mining contractors to move up from sub-200 HP levels. Trucks need to be reliable and supported by excellent parts and service availability. The aftermarket capability of OEMs is key to deliver uptime. Safe and ergonomically designed trucks enhance driver productivity which means more time driving. Fuel efficiency is key, given the increasing costs of fuel and this is a major criterion for selecting the right truck. Eicher continues to promote trucks with modern technology adapted to Indian requirements, so as to deliver better overall profitability. The concept of asset purchase decisions driven by overall profitability is going to be key for contractors to compete in a growing and competitive market, going forward.´
Surface mining opportunities
Krishnan says that a major part of the market is devoted to surface mining.´Our company, Volvo CE, is involved primarily in the supply of excavators for the mining industry. The mining industry favours higher capacity excavators, and in the class of 50 t and higher, Volvo CE is the clear market leader, up to 100 t-rated machines. Of the machines we sell in these categories, over 50 per cent are sold to customers for use in the mining industry. Our own equipment range is used primarily by sub-contractors that are engaged by Coal India. Volvo CE machines are mostly used in the removal of overburden in mining applications. We are one of the largest suppliers of excavators to India´s mining industry.´
According to Das, the demand has been traditionally from surface mining, but there has been an upsurge in underground mining in recent years.´Sandvik Mining and Rock Technology India is an organisation which has significant presence in metal, coal exploration and crushing, and screening equipment, along with its aftermarket business. We have the expertise and global capability to offer cradle-to-grave solutions for any equipment and aftermarket needs, backed up by different financing solutions and product training. We understand the need of the customer and offer customised solutions that suit them the best. India still is in a nascent stage in mine mechanisation and what the mining industry needs is abundant human capital, competent and skilled to manage and maintain advanced technical products.´
Sandvik has invested in a training academy where aspirants can work hands-on on advanced technology, before they are absorbed and deployed in mines to work on the company´s equipment.´We also sell a lot of top hammer and pedestal drills and various crushing and screening solutions,´ says Das.
Kirtane explains,´The current and expected growth in coal mining will help the segment grow, along with other mining areas where we expect growth momentum to start during the second half of this year, where we see government clearances coming in. This will help the overall growth of tippers suitable to remove the overburden.
To tap the opportunities in this segment, Eicher has recently launched the Pro 8031XM 8x4 tipper with 330 HP with rock body and box body options, as well as PRO 6025T 6x4 220 HP with rock & box body options with different capacities. With this range, Eicher is now fully equipped to address two varied requirements in the mining sector. The Eicher Pro 8031XM is designed keeping in mind a variety of mining applications and operating conditions in the mines, overburden or coal transportation suitable for both flat roads or gradients and long leads or short leads. Equipped with fuel efficient driveline, robust chassis, advanced telematics and world class cabin, the Eicher Pro 8031XM is built in collaboration with Volvo Group with a vision to provide premium experience at value.´
Underground mining opportunities
Bhowmik says,´Due to better quality of coal from underground mines and easier environmental approvals, there will be more mechanised underground mining employing long wall equipment and continuous miners in the future. Joy Global is a leader in this technology and offers total solutions including complete supply of equipment and also life cycle management of equipment during the mine´s life.´ Sharma opines,´More modern mining methods utilising continuous miner and longwall equipment offer a much improved level of production along with control and communication schemes.´
Das says,´In underground mining, the major opportunities are in coal and zinc. Considering the complexities in underground mining and the high mechanisation as well as safety requirement, customers prefer OEMs of high repute and proven expertise. For example, the largest underground metal mine of India has a big fleet of underground equipment including 50- and 60-tonne underground trucks, 17-tonne underground load and haul equipment, twin boom jumbo drills, bolters and crushing units.´
These equipment operate non-stop and the Sandvik service team works at this underground mine and at the workshop round-the clock, to ensure maximum utilisation of the machines, so that the mine can increase its production. Das presents some figures,´In the year 2015, the mine recorded a 64 per cent increase in production, as compared to 2014. Such increase in productivity was achieved by ensuring high levels of safety and causing zero harm to the environment.´
Krishnan says,´I think the healthy growth of the mining sector in India will be driven by three things. First, strong leadership from the government. India is the third largest producer of coal in the world and our economic and social development in the coming years requires significant investment in our energy infrastructure. In the short term, that unquestionably has to be driven by our coal industry. Second, the industry is always going to be at the mercy of global commodity prices. While our industry is managing to respond positively at present thanks to good government intervention, for longer term growth, some recovery in global prices will probably be necessary. Third, there will need to be ongoing development and advancement of our mine operating companies. Efficient and productive equipment holds the key to better productivity for the sector, so we need to see this philosophy whole-heartedly adopted within the operating companies. Of course at present, all of the above is in alignment. The Government of India continues its commitment to mining, we are expecting some recovery in global commodity prices - even if it does take a couple of years, and the leading operating companies in our industry already recognise the value of investing in industry-leading equipment.´
Das says,´Sandvik is in the journey for the last 155 years, and this sustainable growth was driven by our core values: Customer Focus, Innovation, Fair Play and Passion to Win. We aspire to set the industry standard. Vision 2020 for Sandvik is to make India a part of the top 10 markets for the company globally.´
Kirtane explains,´The Eicher PRO series tippers have been designed and tested rigorously (for millions of kilometres) keeping in mind a variety of applications and operating conditions in the mines, overburden or coal transportation suitable for both flat roads or gradients and long leads or short leads. Eicher works on holistic business models starting from pre-sales, sales, after-sales and value-added services, which give a differentiating edge to our customers. The tippers offered in the market are equipped with key features like CRDI engines with wide flat torque and perfectly matched driveline for higher fuel efficiency, robust chassis and aggregates for reliability and uptime and advanced features like fuel coaching, telematics and world class cabin for higher productivity. The Eicher Pro series tippers are built in collaboration with the Volvo Group with a vision to provide a premium experience.´
He says that all the signs show that the Indian market for tippers is maturing.´Instead of focusing solely on the upfront acquisition cost for determining what product to purchase, customers have started focusing on total cost of ownership (TCO), with additional focus on quality, performance, and profitability over the lifetime. The customer´s key priority is transporting heavy loads at the lowest possible cost. So, ruggedness and reliability are essential in tippers as are higher uptime, different load bodies and capacities, and higher fuel mileage. Beside product reliability and performance, customers also seriously considering good aftermarket support. As mining activity takes place round the clock, you need superior on-site service and part support, which helps these machines to run 24x7 in mines, to achieve higher uptime and productivity, which in turn helps to meet project timelines and maximise profits.´
Sharma highlights his company Ampcontrol´s vision to become an indigenous manufacturer supplying modern reliable quality products at acceptable prices to the Indian market.
Savant says,´Today we are a lab located in Navi Mumbai acting as a pathology lab to our customers. In coming days, we want to be a total solution provider to the customer´s problem for their expensive equipment.´
Sandvik is an IMME sponsor and will be located in a 96-sq m indoor booth. Das says,´We plan to highlight our success stories in India, our strong aftermarket competencies and products such as rock tools and ground-engaging tools in which we are the global leaders. We will also promote the entire mining portfolio suitable for the Indian market. Like every year, we expect to meet the who´s who of the mining industry, particularly key decision makers from the mining majors and well as contracting companies. We would like to utilise the IMME platform to share our new offerings, success stories and at the same time understand the expansion plans of our customers and provide them ideal solutions.´
Bhowmik says that Joy Global would participate in IMME 2016 and showcase its latest technology offerings.
´(We are looking at) increased visibility and presence in the Indian market and displaying commitment to our Indian customers. This will lead to increased confidence in Ampcontrol and improved orders,´ says Sharma.
Savant says,´Our expectations from IMME are to develop relationships with OEMs and contractors bringing us closer to industry understanding and needs, to showcase ULTRA LAB value proposition, and gain new customers.
The entire mining equipment supplier community is training its guns on this high-potential market. The opportunities kitty is being fuelled by privatisation in mining and Coal India´s drive to double its production to an impressive one billion tonnes by 2020. Further, mining activity to feed commodity products is on the rise. As such, it is safe to state that Indian mining is on a high-growth trajectory.
- Sudheer Vathiyath