As 2023 has kicked off, the mining industry continues to contend with supply chain disruptions, global inflation, and volatile commodity prices. With costs cutting into so many parts of your business, it’s getting hard to keep productivity numbers up.
Depending on the size and nature of your mining operation, however, there are some smart ways to reduce your input costs by choosing to hire, instead of buy your mining equipment.
Let’s take a look at all the different ways your business could benefit by making the switch.
Spend less for better quality equipment
At Rentco, we supply a huge variety of mine-spec vehicles and heavy equipment to the mining industry.
From our tippers and side loaders, to our range of truck rentals, we’ve become renowned for our modern fleet of vehicles that are fully insured, regularly maintained, and with additional tools and features on request.
Instead of shedding thousands of dollars each year from a warehouse that holds an ageing fleet of depreciating assets, you could actually make some money back on our vehicle and equipment rentals by claiming them as a tax deduction. It’s a win-win!
It’s a more cost-effective way to scale operations up and down
Despite all the business planning and market analysis in the world, there are some things you just can’t predict – from foreign conflicts to pandemics (we’ve certainly had a gutful the past few years).
The best thing that businesses can be, though, is more adaptable to change. This is where hiring instead of buying gives you a competitive advantage: If demand dips, or you need to make a hard turn in a strategic direction, you’ve got the flexibility of our short or long-term equipment rental contracts.
This means you can eliminate any expensive downtime when business slows down, as well as ramp up production with ready access to the equipment you need.
Struggling with maintenance worker shortages? We’ve got your back
Companies worldwide are still dealing with worker shortages in the maintenance industry, putting people’s safety and the company’s reputation at serious risk.
With Rentco, however, you won’t need to worry; our team of qualified and experienced technicians will ensure all equipment you hire has been serviced to a high standard before pick-up.
It’s just another part of our standard procedure, so there’s no question about you and your crew’s safety or ability to get the job done as efficiently as possible.
Find out how much you can save on mining transport equipment
Want to learn more about our transport equipment hire services? Talk to one of our friendly team about your options and whether renting equipment could make more financial sense for your mining business. To get in touch, find your nearest Rentco depot here.