As the mining industry continues at pace to dig up minerals needed to decarbonize the global grids and pandemic restrictions ease, the need for ready access to mining and processing equipment is on a rapid rise.
Equipment is the lifeblood of any mining operation, and delayed deployment of the machines needed to ramp up operations can slow production and up capital costs significantly – and capital cost of equipment and timing can make or break a project.
A company that has been in continuous operations for over 40 years with a vision of a more sustainable mining industry, AM King, manages the largest global inventory of used and unused grinding mills and crushing equipment in the world, with over $1 billion in assets under management.
Managing partner Scott Pfeiffer says AM King has expanded its relationships with equipment manufacturers and has extended its global footprint.
“Our goal is to transform the mining and process surplus asset market – to lead our industry by providing one source for our clients and customers to buy and sell with confidence and transparency. We are now better able to offer OEM inspections, warranties and installation services for our surplus assets,” Pfeiffer says. “Equipment can be inspected [and] warrantied, alleviating concern about buying equipment that is not ‘brand new’, while customers still get the manufacturer’s warranty.”
AM King handles large transactions – both buying and selling assets and can help customers achieve and deliver on environmental, social and governance (ESG) agendas.
“By upcycling existing unused or lightly used assets we are able to provide equipment that is fit for purpose and backed by an OEM, at a significant discount,” says Pfeiffer. “Our ‘choose to reuse’ program can accelerate our customers’ sustainability goals by reducing the number of new assets they need commissioned each year – saving millions of pounds of steel and CO2 from being produced.
“It could be a year or more to get a machine built for your project – but we have ready access to those assets in real time, and commonly they are either lightly used or have never even left the warehouse,” says Marty Sears, managing partner at AM King. “Our inventory is accessible in every major mining market in the world, and while certain components will need to be replaced – the core mining equipment lasts for ages.”
AM King’s proprietary tracking technology and massive surplus mining and processing equipment inventory are key to sustainably acquiring and moving assets through the global supply chain.
“We are passionate about reinventing how surplus mining equipment is bought and sold, with full transparency. Our model not only provides economic value to our customers by offering lower priced premium assets with a faster time to production, but we create a unique opportunity to positively impact the planet”, says Sears.
An example of AM King’s innovation can be seen in their new, cloud-based software solution for managing surplus assets – the Surplus Asset Management System (SAMS) enables users to easily identify, track, redeploy or sell their surplus equipment across their enterprise.
The system is designed to make the process of managing surplus equipment more efficient, and to provide customers with enhanced insights into their operations. Early customer feedback suggests that AM King has created a truly useful solution, especially for larger enterprises with multiple operations across the globe.