A group of young innovators has managed to introduce in Peru and Chile an innovative virtual platform that enables large mining companies to sell immobilized equipment and machinery in a fast and safe manner, and with up to 70% discount from the original price. The proposal, promoted by the startup INEXLINK, was presented at the event PERUMIN Hub and was the winner of the successful innovations category.
As commented by Mauricio Salina, CEO of INEXLINK, mining companies have 20% to 30% of immobilized inventory. In this respect, the opportunity to sell these assets enables the companies to reduce storage costs and generates a positive impact in the sustainability of the industry and its potential buyers in their maintenance and production processes with a lower investment and lead time.
“Through our business model, we have a direct impact on the green mining concept, as we not only reinsert stored equipment and spares, but we also extend their useful life, we reduce the carbon footprint and the impact on the ecosystem. Furthermore, we maximize the return of investment on this inventory through the offer and demand connection”, stated Salina.
Business model and matchmaking process
By connecting through the INEXLINK platform, the company also follows compliance processes, which helps to reduce fraud or asset laundering cases that may arise in this kind of inventory, which is very valuable. The platform contributes to achieve clean transactions with safe destinations.
Considering that the immobilized stock in Peru, Colombia and Brazil is close to US$ 900 million, the matchmaking process is agile and safe for buyers and sellers. Through the platform, they find spares or equipment they are looking to buy, they reserve them, the stock is verified, and the purchase is then confirmed and delivered against payment.
“We have currently more than 65 clients, mainly in the mining industry. We have made transactions for more than US$ 11 million and have posted more than 71,000 items in our platform”, pointed out Salina.
Finally, the company seeks to expand its business model to countries like Brazil and Peru, the latter being its main market target as it is very similar to the Chilean market and has a significant portfolio of mining projects. Therefore, conversations are under way with companies like Aceros Arequipa, Chinalco and San Martín.
INEXLINK was one of the winners of the first edition of PERUMIN HUB 2021, the main innovation program opened in the country to seek solutions for the great challenges of the mining sector through collaborative innovation, organized by the Peruvian Institute of Mining Engineers (IIMP) and the Mining Innovation Hub.
To learn more about the program and Inexlink proposal, visit www.perumin.com/es/hub