2022 results: Mining Element's four times growth in sales volume
Establishment of an independent legal entity in Russia, 280% sales growth and ten new products. This year has been full of challenges and important changes for Mining Element. The main thing is that they all contributed to the development of the company.
In February 2022, in response to external changes, Mining Element leftthe Element group. The Russian division became a legally independent company. In the shortest possible time, we restored logistics chains and worked out new routes in order to fulfil all obligations to our customers.
«Despite the difficulties, this situation has proved to be of great benefit to us. After the departure of European manufacturers of equipment, mining enterprises have revised their procurement strategy and are now actively looking for the domestic suppliers», — said Alexey Zubekhin, commercial director of Mining Element LLC, — «naturally, this had a positive effect on our business. In the second quarter of 2022 alone, we processed more positions in the incoming requests than in the entire past year. At the moment, we have tripled the volume of orders last year».
Over the year, the sales volume of Mining Element products has grown four times. For example, in the market of imported liners for crushers, the number of orders has doubled — this is a quarter of last year's volume of the entire segment of liners from Western manufacturers. In comparison, the leading European supplier of original parts covered about 16% of the market in 2021.New direction and products
The departure of European equipment suppliers from Russia stimulated the expansion of product lines. Thus, Mining Element has singled out a separate category — ore-processing and classification. Moreover, the company has developed 11 new products for various types of mining equipment.
The new direction includes parts for hydrocyclones, flotation machines and gravity concentrators. Mining Element introduced the latter two in 2022, having already delivered two sets of parts for the flotation system to customers. In total, more than 1500 articles appeared in the assortment. The range of the equipment by Mining Element in this category covers 80% of the equipment currently operating at Russian ore-processing plants.
The company has occupied 45% of the spare and wear parts market in the vertical mill segment. Mining Element engineers have developed unique products for the Russian market: screws and magnetic linings — only European manufacturers have similar parts. New products quickly became sought for among most enterprises, due to which the sales volume in this category increased 10 times in 2022.
New positions also appeared in the Conveyor Belts category: steel-cord conveyor belt with inductive loops, bucket belts with a steel-cord corrugated sidewall, belt and hopper sealing system, and RC pulley lagging. Orders have already been shipped to several of the largest iron ore mining companies.
In 2022, 94% of all orders were repeat orders. Perhaps this is the main result of the year for the Mining Element team, because the customer's trust is the main measure of success for business.
Another fact confirming the strong reputation of the company is the reduction of the pilot tests number. Most Mining Element contracts this year included direct sales without sample testing.
The company's products have not only been recognized by the customers, but also by the professional community. The combined lining solution was shortlisted for the «Golden Idea of the Year» nomination of the international WIM award, established by the largest mining companies in Russia.*
* «Talented Woman in the Extractive Industry» Award
Thank you for choosing us
The Mining Element team would like to thank all the customers and partners who have been with us this year. Thank you for setting difficult tasks for us and entrusting us important projects. Thank you for your openness and readiness for innovative solutions. This approach helps Mining Element to strengthen our expertise and develop further.
Thanks to your support, we have set ambitious goals, such as becoming the number one supplier of liners for crushers in Russia, supplying new types of unique conveyor belts for the mining industry, and gaining a significant share of the market for spare parts for cement plants.
«The more successful Mining Element becomes, the more responsibility our team has to customers», — commented Marat Abdurahimov, Development Director of Mining Element. — «First of all, it concerns the quality of products. Over six years of work, we have built a multi-stage control system that affects the processes not only of our company, but also of all external suppliers. Mining Element is a reliable partner, always focused on long-term cooperation with customers. We intend to further strengthen relations with our clients, the number of which is growing every year, and help in the development of their businesses».