Which mining operations has Tecnomina worked in over the last few months?

In 2023, Tecnomina underwent significant expansion, marked by initiating a 4-year contract with Southern Copper Peru at Toquepala . Concurrently, we maintain service contracts with Southern Copper Peru at Cuajone, Miski Mayo and Anglo American's Quellaveco, solidifying our foothold in the mining sector. 

To enhance our coverage, we prioritize contracts involving a continuous personnel presence, ensuring skilled labor, and optimizing travel management. With 54 years of expertise in mineral handling, conveyor belt maintenance, and anticorrosive coatings, Tecnomina has positioned itself as a specialized asset lubrication and maintenance company.

What changes did Tecnomina implement to expand into the lubrication and service units?

Acknowledging the technical competition in the market, we assembled a team of supervisors to successfully replicate the model we used in belt maintenance and expand it to include lubrication management. Our vision goes beyond simply expanding services with Southern Copper; we aspire to increase our market share with prominent clients like Las Bambas, Nexa Resources, Shougang, Cerro Verde, Antapaccay, Mina Justa, Volcan, Unacem and Antamina. 

How does Tecnomina grow in a market lacking new greenfield projects?

In contrast to rapidly growing yet unsustainable companies, we prioritize gradual growth, emphasizing stability over unchecked expansion. While our growth may not match the rates of other companies, it is more sustainable and intends to remain so, even in a stagnant market.

We adopt a solution-selling approach rather than merely offering products, marking a significant shift in market dynamics, particularly evident after Quellaveco was brought online.

Although Peru lacks new projects on the scale of Conga or Tía María, we identify expansion opportunities with companies like Chinalco, Las Bambas, and Cerro Verde, maintaining a robust presence in the market. Leveraging our position as a Peruvian family-owned company that transitioned to a corporate structure in 2018, we focus on operational excellence, supported by continuous audits from top-tier companies, to maintain the best possible reputation among customers and foreign investors.

Can you elaborate on Tecnomina's approach to safety?

Safety is a fundamental pillar for us, guided by the belief that while operational issues are correctable, accidents are irreversible. With nearly 300 field workers, we stress that safety is more than a corporate responsibility; it is a personal commitment for each worker. Acknowledging that a higher field presence raises the risk of accidents, our goal is to inspire our team to actively contribute to procedure development, instilling a sense of ownership and self-management to ensure their safety. 

How is the industry migration from corrective to predictive and preventive measures developing?

In predictive maintenance, Tecnomina has implemented advanced technologies in our warehouses, such as dynamic radiography for steel cable conveyor belts. Since 2023, we have conducted scans in motion, eliminating the need for traditional inspections with operators near the belts. These scans provide detailed reports of the internal structure within 10 days, reducing personnel exposure to direct contact with the belts. Additionally, we offer the option of electromagnetic scanning, a more economical alternative with slightly less detail. Clients can choose the machine based on their budget and schedule the scanning frequency, whether periodically or biweekly.

In collaboration with our supplier, Rema Tip Top, we are training to utilize ultrasonic thickness measurement (BTM) equipment on moving belts. This system eliminates the need for manual measurements, conducting a comprehensive scan from end to end and edge to edge, providing an extensive profile of the belt thickness.

The preventive and predictive approach gains significance as plant shutdowns cost up to US$1 million per hour. Clients recognize the investment in predictive solutions as an effective means to avoid unplanned shutdowns, shifting the focus from corrective to predictive and preventive measures and anticipating potential issues in the medium and long term.

What are Tecnomina’s goals for 2024?

At a national level, our goal is to achieve a 60% growth in service revenue and a robust 15% increase in product sales compared to the performance in 2023. This drive reflects our commitment to sustained development and operational excellence in the local market.
On the international front, we plan to expand our presence by establishing a subsidiary in another country within the region. This strategic move will enable us to supply skilled labor directly from Peru, solidifying our global position as leaders in providing services and expertise.