The Minnovare Story
HOW MINNOVARE GOT STARTED
IMPROVING PRODUCTIVITY IN THE DRILLING INDUSTRY
Minnovare was founded in 2013 with a desire to improve the overall productivity of exploration drilling within the mining industry. While others looked to improve productivity by focusing on what was happening down the hole, at Minnovare, the team approached the problem from a different angle; by focussing on the critical processes that occur prior to drilling commencing.
These processes ultimately have a far greater impact on drilling productivity and quality. Examining the traditional rig alignment procedure, a slow and inefficient process was identified – typically involving an on-site surveyor and a simple string line. It was this key process that Minnovare set about changing, forever.
Early client trials
With a clear industry need identified, Minnovare developed a prototype solution – the Azimuth Aligner was born (at least in prototype!). Shortly after the prototype was developed, early adopters were quickly identified and engaged to trial the new technology. During this time, the company worked closely with leading drilling contractors and mining houses to gain a clear understanding of their unique needs, the values they were able to extract and what improvements, if any, they would like to see in the final commercial product.
RESULTS OF THE EARLY CLIENT TRIALS
The clients partnered with during the prototype phase reaped immediate reward from the Azimuth Aligner. For both the drilling contractor and mining company, the feedback was that the Azimuth Aligner substantially increased the quality and productivity of drilling, by eliminating the time consuming and often inaccurate alignment processes of previous methods.
GROWTH OF THE COMPANY
With the value of the Azimuth Aligner now clearly established for both drillers and mining houses, Minnovare set about building upon the prototype system to develop a commercial product. In the years to follow, multiple iterations of the product were completed that included weight/volume reductions, user interface improvements, optimised ergonomics and improved battery performance. These often client-driven developments led to a strong uptake of the product in the Australian drilling industry, as well as entry into international mining markets. A further catalyst for growth was achieved with the company’s successful entry into the civil construction market, via participation in a range of high profile ground engineering projects in various locations around the world.
As such, Minnovare is now the leading supplier of rig alignment technology to the global mining and civil construction industries.
FUNDING THE NEXT PHASE OF GROWTH
As the business continued to grow during its early years it became increasingly clear that the Azimuth Aligner was a system with applications in mining exploration, production and civil construction projects on a truly global scale. In order to expand and effectively position into these markets, in 2016 Minnovare partnered with highly regarded private equity groups specialising in the Mining Equipment Technology & Services sector (METS): Viburnum Funds and Jolimont Global Mining Systems.
The partnership with Viburnum and Jolimont has provided Minnovare with the financial backing required to maintain the company’s international growth and the level of service and support demanded by a global client base.
In addition to the continued growth of the Azimuth Aligner globally, Minnovare also see an exciting future in new product development. Minnovare are currently working on a range of new product initiatives led by the in-house R&D team, and look forward to announcing these new product releases soon!