The mining industry is a highly volatile sector that comes with lots of ups and downs. When your business booms, you’re flooded with returns that help you maintain the assets. However, business becomes scarce sometimes and it’s hard to protect your machines from depreciating. Keeping that in mind, what is the right decision: hiring your equipment or buying it? In this article, you’ll know the benefits before you hire mining equipment or decide to buy it.
Benefits of Hiring Your Machines.
If you hire mining equipment from a quality provider, you can enjoy the low-budget utility of the machines with reliability.
Service and Support:
Hiring your machines from a reliable provider will enjoy unlimited technical support. They will suggest the right machinery for your application and take care of their maintenance.
Pocket-friendly:
When you hire your equipment, you can keep track of your monthly expenditure without bothering about repairing. The risks of excess expenditure and financial loss are low even during times of scarce business.
Hassle-free:
Hiring makes it easier to manage a machine without maintaining it. You own the machinery as long as the project continues. You don’t have to think of its depreciating value or selling prospects when the project ends.
Try Before You Commit:
Hiring gives you a chance to try out your machinery before you decide to buy it. Analysing its worth is important before you can commit to a substantial investment.
Limitations of Hiring.
The greatest disadvantage of hiring mining equipment is that you don’t own it. If your project continues for an extended period, your rent might exceed its actual cost than if you had bought it. Moreover, hiring can sometimes be a lengthy process as you wait in the queue during busy seasons.
What Mining Equipment Can You Hire?
Though the choice of your machines will depend on your requirements, there are some basic machines you need for your project:
Drills:
Production and development drills are essential pieces of machinery for underground mining. They can rotate 360°, which makes them suitable for quick penetration of soil. They are extensively used in small- and large-scale projects.
Load and Haul Rigs:
These are built to withstand underground conditions as they can move high volumes of the earth with great efficiency.
Charge Up Mining Machines:
This machinery improves the safety of tunnelling and mining activities.
Narrow-vein Mining Machines:
These are used to carry out precise mining activities safely in large- and small-scale mining projects.
How Much Does Hiring Excavators Cost?
Hiring your mining equipment is a far cheaper option than buying it brand-new. On average, 15-20-tonne excavators may cost up to $200,000 brand-new, whereas getting them on rent costs approximately $571 per day or $3,433 per month.
Conclusion.
Taking your mining equipment on hire makes it an easier and more cost-effective than buying a new product. It ensures a hassle-free experience to enjoy working on your project when business booms. Without bothering about repair and maintenance, you can focus solely on your project’s completion. Though it poses certain limitations, hiring your mining machinery allows budget-friendly support from a reliable service provider.
