Mining equipment finance covers some of the highest-value machinery assets in Australia — from drill rigs and underground loaders to haul trucks and crushing and screening plant. Mining contractors, owner-operators and mining services companies all require specialist lenders who understand the sector's income profile and asset characteristics.
What Mining Equipment Can Be Financed?
- Drill rigs (surface and underground)
- Excavators (mining spec)
- Haul trucks and off-road dump trucks
- Underground loaders and LHDs
- Crushers and screening plants
- Conveyor systems
- Graders and dozers (mining spec)
- Water trucks
- Service vehicles and light plant
- Pump stations and dewatering equipment
- Mining support vehicles
- Exploration equipment
Contract-Based Income Assessment
Many mining contractors earn income under project-based or site contracts rather than regular trading income. Specialist lenders assess mining contractor applications using bank statements, copy of the current contract, and ABN history. A signed mining contract is a significant positive factor — it provides evidence of future income that standard bank templates don't account for.
Remote Location Considerations
Mining operators in remote Western Australia, Queensland, the Northern Territory and South Australia face different lender considerations than city-based businesses. Specialist lenders familiar with remote site operations understand location-related operating costs, fly-in fly-out (FIFO) arrangements and the logistics of maintaining plant in remote locations. These factors don't reduce approval chances with the right lender.
Older Mining Plant
Mining equipment is built to last and many operators finance machinery well beyond the standard 10-year threshold that mainstream lenders apply. Specialist lenders assess older mining plant on a case-by-case basis — considering hours and kilometres over age, maintenance records and service history, and the security value supported by an independent valuation if required.
Overdrive Funding has specialist lenders on panel with deep experience in mining equipment finance. Contact us for a free mining plant finance assessment.