By Paul Moore
April 5, 2017 - MineWare, a spin-off company of Mining3 (formerly CRCMining), and global leader in advanced dragline and shovel monitoring technologies has been acquired by Komatsu. MineWare was established in 2005 out of the Mining3 research program which produced the Universal Dig and Dump (UDD) technology. Developed in conjunction with the University of Queensland’s Mining and Mechanical Engineering School, UDD’s innovative rigging and control system technology represented the first major change in dragline technology for decades and offered massive step-change performance improvements.
From that initial inception, MineWare developed their core technologies into market leading products. They include the Pegasys dragline monitor, Argus rope shovel and hydraulic excavator performance monitoring systems, and the dragline DTM technology. Kevin Greenwood, COO of Mining3, and outgoing Director of MineWare said, “MineWare is a genuine success story for Australian mining research; ideas germinated via university research, supported by the mining industry, and successfully commercialised into a global business.”
“We believe the acquisition is positive on all levels. It will enhance MineWare’s global reach and provide improved integration capability with other mining technologies, enabling the business to grow more sustainably. Komatsu will add world-leading technology to its product range and have the capability to expand on MineWare’s offerings utilising their advanced development team. Mining companies will benefit through MineWare’s improved reach, and capability to deliver and support its products globally. From an Australian perspective, this acquisition demonstrates a commitment by Komatsu to significant ongoing mining technology development within Australia, further strengthening our global leadership in the Mining Equipment, Technology, and Services (METS) space.”
MineWare stated it was business as usual but with the benefit of Komatsu’s backing and reach. “MineWare will work with their existing partners and continue to deliver products for incorporation into mining equipment sold by all leading manufacturers.” MineWare’s CEO, Andrew Jessett, will continue in his current capacity under Komatsu’s ownership, however, Mining3 ceases to have MineWare board representation and any direct involvement in its business operations.
Komatsu is one of the world’s largest manufacturers of mining and earthmoving equipment and is a member of Mining3. Mining3 is an industry-led research organisation focused on delivering innovation to the global mining industry. Incorporating researchers from major universities and research organisations, Mining3 works with mining companies to develop and deliver transformational technology. Having formed numerous spin-off companies and technologies that are being utilised in the mining industry, Mining3 believes that it is successfully closing the gap between research and industry.