Sandvik is bolstering its automation and digitalisation offering through the purchase of mining technology company Newtrax.
The Swedish company will combine its OptiMine technology with Newtrax’s wireless Internet of Things (IoT)-enabled offering to create an open platform for users, according to Sandvik Rock Drills and Technologies Division president Patrick Murphy.
“By combining our current offering OptiMine with the Newtrax offering we can help customers achieve a more efficient use of their resources,” he said.
“The system is agnostic to network or brand of equipment, facilitating a flexible customer solution.”
Sandvik’s modular OptiMine technology is designed to offer various tools for users to optimise their underground mining operations through the use of real-time data. This includes functions for scheduling, task management, monitoring, analytics and more.
Canada-based Newtrax is therefore a natural fit for Sandvik as a safety- and productivity-focused provider to the hard rock underground mining industry.
Newtrax started in the mining industry from its headquarters in Montreal in 2009. The company now boasts 120 employees and a clientele of over 50 mining companies. In 2018, Newtrax generated revenues of $C26 million ($27.3 million).
Its main solutions on the safety side include early hazard detection and proximity detection systems and evacuation systems, while its productivity solutions are mainly focused on automated real-time monitoring and operational efficiencies.
Sandvik’s acquisition of Newtrax is expected to be finalised in the second quarter of this year. The two companies have elected not to disclose the costs involved.