LatAm miners unhappy with costs, survey says

Latin American miners gave low grades to equipment manufacturers in a recent survey by data and intelligence firm Timetric.

The survey of more than 100 decision makers at mine sites in the region shows cost-related factors are the main concern — especially equipment maintenance and servicing costs.

Respondents were asked to rate their equipment manufactures for 16 different categories related to cost, product attributes and supplier capabilities.

Participants gave their lowest satisfaction ratings for maintenance and service costs, as well as the equipment price.

Many respondents from Chile (53%), Peru (44%) and Brazil (22%) said cost reduction was the most important way their suppliers could improve.

About a quarter of those surveyed said they are likely to switch equipment suppliers within the next five years. Another 25% said they are unsure about keeping their current arrangement.

Timetric says the survey shows that suppliers need to focus on cutting costs to win or keep business in Latin America.