Australia-based Components Only has announced the company is establishing offices in the mining regions of Chile and Mongolia.
Components Only specializes in buying, selling and sourcing new, used and rebuilt components for heavy machinery across the mining, construction and earthmoving industries. In response to increased demand for its services and expertise, Components Only has turned its attention to two of the world’s key mining hubs.
“Both rich in resources, Chile and Mongolia utilise similar equipment to our existing markets of Australia and North America and we are confident that with local staff we can respond to the increasing trade requirements of these economies,” said Components Only Accounts Director Ben Hailes.
Chile is the world’s largest producer of copper. The mining industry is a major employer in the country and represents around 10% of the nation’s GDP. Prosperous and politically stable, with abundant natural resources, Chile has attracted some of the world’s largest mining companies – Anglo American, Barrick Gold, BHP, Freeport McMoRan, Glencore and Rio Tinto all have operations there, alongside state-owned mining company Codelco.
Mongolia boasts significant proven deposits of gold, copper, iron ore and coal. Its minerals sector is underdeveloped and holds enormous potential. 2019 has seen Mongolia emerging as an investment hot spot for untapped reserves, and the availability of rich reserves will continue to attract investors.
“Our expansion into Chile and Mongolia is an opportunity for us to leverage our proven business model, as well as to create positive economic impacts for both nations through employment and development of infrastructure,” said Hailes. “We are committed to improving these regions, and we look forward to working with the local communities.”