Joy Global uses diversification to lead the mining industry
As was reported by our sister site Mining Global, mining giant Joy Global is now on the forefront of helping companies optimize the performance of an entire mining operation through the integration of smart technology.
During the declining commodity cycle, Joy Global has begun expanding its capabilities into new markets to not only serve other sectors, but also become less exposed to mining downturns. Moving forward, a top priority for the company is diversification.
RELATED TOPIC: How crowdfunding will help turn around Australia's junior mining sector
“By diversifying, we can become less exposed to the effects of a commodity downturn like we’ve seen in the past,” said Jason Savage, President of Joy Global Australasia, a significant link in the company’s global supply chain.
“What we’re seeking as a business is to diversify into more commodities and become less of a coal equipment provider. Our end goal is to serve all commodities through our world class equipment and services.”
RELATED TOPIC: Roy Hill leads the way into new era of iron ore mining
Joy Global has recently emerged into the hard rock market with the acquisition off Mining Technologies International Inc. (MTI), helping to established itself as a key component in many hard rock mining operations worldwide.
Joy recently made a move to further bolster its position as a first tier supplier to the underground hard rock mining market, acquiring France-based Montabert S.A.S. Globally known for rock drill products and rock breakers, the Montabert acquisition gives Joy access to the company’s global distribution of rock drill products and rock breakers.
“They have historically sold their products through dealers in a broad range of markets,” said Savage. “We absolutely intend on leveraging their distribution while providing our muscle from a service and support aspect.”
RELATED TOPIC: Glencore enhances processes in the mining industry
As the company begins its journey into new markets, Joy is gearing up to launch an array of “game changing” equipment to the sector.
“We’re preparing to launch the world’s first hard rock driver in HD, as well as proven electric drive technology in conjunction with an energy storage system,” said Savage. The energy storage system will have the capability to store energy while the machine is operating, as well as idling. According to Savage, companies will be able to reduce their diesel consumption by 20 per cent, while releasing more energy into the drive train to drive faster cycle times.
“Although we’ve designed these machines to reduce operating cost, with energy system storing energy, companies can actually improve their performance while saving money,” Savage said.
Check out the latest edition of Business Review Australia!
- Q&A with Asif Sadiq, chief global DEI leader at Warner BrosSustainability
- Mercer BT Super merger makes US$63bn Australia pension fundCorporate Finance
- Top 10 best-performing Australian companies: mines to banksCorporate Finance
- Top 10 richest Southeast Asia: how they made their fortunesCorporate Finance