Mine data firm looks to list

Advanced mobile mining equipment data transfer and communications specialist, International Mining Technologies Pty Ltd, is considering stock exchange listing to fund a major international expansion and develop new safety and maintenance minimisation systems.

The Perth company is also considering a private placement, preferably from an industry participant, and has already had discussions in this regard with a major mining equipment builder and four other international companies.

While declining to go into any further details, IMT co-founder and managing director Todd Pearce told WA Business News these were some of the options being explored to translate the company’s success in Australia to overseas markets.

Formed in 1999 by father and son team Alan and Todd Pearce to develop and market a core collision avoidance system, the company has already won federal government support by securing a $2.25 million AusIndustry grant in the face of some heavy national competition.

IMT’s unique range of data communications technology for the mining equipment industry is already being used by some of the biggest mining companies in Australia, including BHP Billiton, Rio Tinto, Worsley Alumina and Kalgoorlie Consolidated Gold Mines.

In two years, employee numbers have risen from six to 20 at its spacious Osborne Park headquarters. Half of this team is involved in R&D. Ownership has expanded to five, including finance director Ian Holding and business consultant Jim Loaring, and 2005-2006 turnover is estimated at $3 million.

IMT’s technology suite includes patented collision avoidance systems, mobile mining equipment communi-cation, safety and machine monitoring, and protective maintenance solutions.

The Vital Data Link (VDL) system is the base platform for the company’s Mine Mate collision avoidance systems, designed to prevent truck to truck and truck to light vehicle collisions. There is also a fatigue management and alert system that talks to machine operators, informing them of potential danger and potential engine faults.

On the maintenance side, the VDL system allows data from engine management and monitoring systems to be transmitted from remote locations to anywhere in the world via radio wave modems, solar-powered repeater stations, satellite and the Internet directly to the monitoring facility.

In this way, critical events such as speeding, temperature rises, overloads, component failures, leaving site, and other events can be transmitted. Warning parameters can also be set and the operator automatically informed when they are exceeded.

The technology is a real-time machine health monitoring tool with which mine personnel can track equipment, contact vehicles, generate reports and receive machine events, all from one computer program package.

VDL is fully compatible with all Caterpillar machines and can interface with that company’s own information and management systems, downloading to Caterpillar WA dealer Westrac’s computers, laptops and palm programmers.

Todd Pearce said the IMT systems were primarily aimed at reducing maintenance costs and safety.

The company has about 500 VDL systems in operation around the world, the average installation of which into a fleet of 10 trucks with support transmission facilities, is about $100,000.

Mr Pearce said these sales had opened up further opportunities, hence the current marketing campaign, particularly into the rich North and South American mining markets via the major dealerships, then the mines themselves and contractors.

It is a strategy forged in WA and leveraged off a successful relationship with big WA Caterpillar dealer Westrac.

While the energetic Todd Pearce will head the marketing thrust into the Americas, IMT is now seeking to fill sales positions, including a director of sales and marketing to drive the expansion throughout Australia and into Asia.