Rivet mining services offloads heavy haulage assets
Rivet Mining Services put 19 prime movers and 24 side-tipping trailers on the block in June as it slimmed down its Port Hedland-based heavy haulage fleet.
The company sold 87 lots, including low loaders, Franna cranes, prime movers, fuel tanker trailers, side tipping trailers, dolly converter trailers and extendable trailers, through a tender process run by Gordon Brothers.
Rivet chief operating officer Philip Tonks tells ATN its heavy haulage operations were largely a sideline to the bulk haulage arm, which made up “99 per cent” of the business.
“This is just surplus assets in the heavy haulage area which we don’t require,” Tonks says.
“We are still doing some heavy haulage in the region and we still specialise with certain clients for that, but apart from that, there is nothing more to it than that.”
The company is the primary and exclusive bulk haulage contractor for Atlas Iron, and has been upgrading its bulk haulage fleet to meet demand, lifting its number of superquads to 55, while keeping an average fleet age of between four and five years.
“The quads have increased load capacity, to provide those efficiencies to our customer to enable them to be the most efficient operator out there,” he says.
The company will use cash raised from the asset sale to invest in more assets to help it meet future contracts.