"Our strategic diversification and growth in service and repair underline our commitment to innovation in the competitive mining industry."

Luis Flores

GENERAL MANAGER, MUR

March 27, 2024

What helped MUR achieve 15% growth in 2023?

Despite the economic and sociopolitical challenges in Peru that affected the country’s growth, we have seen a positive impact from the organizational and structural transformations implemented at our company in 2022. In 2023, we achieved a significant 15% increase in sales compared to the previous year. Recent accomplishments include expanding to new clients like Buenaventura and solidifying our operations in Las Bambas, securing an additional contract for maintenance and repairs. 

For 2024, we have set an ambitious growth target of 15%, with plans to enter new operations. Our strategy involves consolidating existing operations, fostering organic growth, and diversifying our portfolio through projects like Quellaveco, Zafranal and Shoughang. Additionally, we aim to strengthen our sales team further to establish our presence in the dynamic Peruvian market.

What are MUR’s business units, and which one has grown the most?

We operate across five business areas, with mining contributing 70% of sales. In infrastructure, our work on the Chimbote bypass with Acciona is nearly complete, and we're considering expansion into presses and mining infrastructure in 2024. Our service line grew by 100% from 2022 to 2023, reaching almost US$12 million, focusing on equipment maintenance for Chinalco, Southern, Las Bambas, and Shahuindo. The transportation line, targeting the heavy-duty cargo market, offers leasing services with a fleet of about 350 units leased to contractors like Cosapi and San Martín. Our strategic diversification and growth in service and repair underline our commitment to innovation in the competitive mining industry.

Where does MUR’s specialization lie in the mining industry?

We specialize in open-pit mining, offering complete services from operations to drilling, blasting, and road maintenance. Simultaneously, we aim to enhance our footprint in underground mining. 

What are the main challenges facing the mining industry in Peru?

With 23 years of mining industry experience, MUR began as part of the Guido del Castillo companies, initially servicing mines within the group. Since 2015, MUR has expanded its services to external clients, including Buenaventura, Gold Fields, Antamina, Minsur, Pan American Silver, Las Bambas, and Southern.

A significant challenge in the Peruvian mining industry revolves around social responsibility, affecting mining companies and sector contractors. MUR addresses this challenge through a social outreach plan, integrating communities into development and operations. We take a direct approach by actively involving ourselves and implementing projects with substantial participation from local communities' operational personnel. Comprehensive training and support enhance their skills, contributing to joint development with mining activities.

We strongly advocate for close collaboration between mining companies and contractors as a pragmatic and streamlined method to foster positive relationships with local communities. Contractors are now recognized as vital stakeholders committed to efficient operations and the sustainable development of impacted communities.

What is limiting contractors from adopting green solutions for mobility?

Despite consistent communication with equipment suppliers, testing electric dump trucks remains impractical due to the lack of developed technology. I anticipate technological advancements in 2024, primarily for sea-level projects, as high-altitude testing remains challenging.

In drilling and blasting, our commitment to advanced technology is evident. We use equipment with integrated systems for improved control and safety. Implementing telemetry and fleet control underscores our focus on efficiency and safety across all mining operation phases.

What is MUR’s approach to safety?

Minsur has acknowledged our exceptional safety management, an accolade we accept with pride and humility, motivating us to raise our standards further. Across all business lines, our safety standards comply with industry regulations, aligning our management with esteemed mining companies like Minsur, Las Bambas, and Southern. 

We implement action plans that include regular training and enhancements to personal protective equipment (PPE) and technological advancements in our fleet, incorporating anti-drowsiness and anti-fatigue systems in our dump trucks and equipment. These measures enhance our safety controls and ensure an optimal level of operational alertness, reaffirming our commitment to safety in all facets of our mining operations.

What should we expect from the company in the next 12 months?

We aim to enhance relationships with communities in our operational areas, promoting harmonious development and reinforcing our commitment to social responsibility. We are dedicated to improving our work practices and management, aspiring to meet safety standards comparable to world-class mining companies. 

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