Global mining equipment designer and manufacturer Austin Engineering has sold its first Mainetec-designed dipper bucket to a customer in the United States.
A large copper mine in the United States will receive the high-performance Armadillo electric rope shovel dipper bucket by mid-CY2024, Austin revealed in an ASX announcement.
The sale of the dipper bucket, which ranges in price from USD 1.5 million (AUD 2.2 million) to USD 2 million (AUD 2.96 million), comes after Austin acquired Mainetec, a dipper bucket specialist, in 2022
The ASX-listed company said the Armadillo bucket will be designed in Australia, manufactured in an Austin factory in Batam, Indonesia, and supported by Austin’s US operation in Casper, Wyoming.
Furthermore, the newest iteration of iTrip, the exclusive door latching and control system manufactured by Mainetec, will be installed in the dipper bucket.
ITrip, which is already widely used in Australia, significantly shortens maintenance windows and lengthens component service lives.
Austin unveiled that it has been demonstrated that the technique may add up to 18 months to the typical dipper service life between overhauls.
As part of the agreement, Austin will also provide replacement parts for the iTrip system.
Austin and Mainetec’s global bucket service is distinguished by the fact that all buckets are tailored to specific sites and ore bodies.
David Singleton, Austin’s CEO and managing director, expressed his thrill to have secured the first sale of a Mainetec bucket into the major US market.
“This sale also showcases Austin’s ability to leverage its global capabilities around design, manufacture, and delivery, under our Austin 2.0 strategy,” the CEO noted.
According to Singleton, their global business is adopting this integrated “hub and spoke” method of product delivery as routine practice.
“This sale is a synergy benefit related to the acquisition of Mainetec in 2022, where we can offer Mainetec’s buckets globally using Austin’s routes to market,” he said.
Singleton also emphasised that in addition to bucket rebuilds and spares from the iTrip system, the company estimates that the market for replacement dipper buckets in the Americas alone might be worth over $100 million annually.
Earlier this year, Austin announced plans to expand its US company by concentrating on gaining market share for haul truck trays and, in particular, mining buckets.
Since the pandemic, Austin’s North American business has improved, with H1 FY23 EBITDA jumping 363 per cent year over year to $5.6 million.
Given the increasing demand for large dipper buckets in both North and South America, Austin also said it sees the possibility for additional revenue development throughout its existing equipment offering, including Mainetec’s products.
