Mining Equipment Finance
Finance for the equipment that keeps mine sites and quarries running.
Whether you need a drill rig, haul truck, crusher, screening plant or underground loader, we match your file to the right lender from our panel of 50+ banks and specialist financiers.
Fast approvals, structures built around contract income, and a broker who understands how mining equipment gets assessed.
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How Mining Equipment Finance Works
Most mining equipment is financed using a chattel mortgage, finance lease, or commercial hire purchase. The right structure depends on your tax position, how long you plan to hold the equipment, and whether you want ownership from day one or prefer to manage cash flow with a residual payment at the end.
Chattel mortgage is the most common structure for established mining operators. You take ownership of the equipment immediately while the lender holds it as security. You claim the GST upfront and depreciate the asset over the finance term, which suits businesses that want the tax benefits of ownership from settlement.
Finance lease keeps the equipment on the lender's books with fixed monthly repayments and an optional residual at the end of the term. This works well for operators managing fleet turnover or those who prefer to match repayments to a specific contract period and hand the equipment back or refinance when the job wraps up.
Commercial hire purchase operates similarly to a chattel mortgage but with slightly different ownership timing. It suits operators who want a fixed repayment schedule with a balloon payment at the end, particularly on higher value assets where keeping monthly costs manageable matters.
For mining equipment, balloon and residual structures are common. The high asset values mean keeping monthly repayments aligned with contract income is critical, and a well-structured residual lets you do that without overextending cash flow.
What You Can Finance with Mining Equipment Finance
We arrange finance for new, used, and refurbished mining equipment across every major category. Whether you are purchasing from a dealer, at auction, through a private sale, or acquiring equipment from a mine shutdown or fleet sell-down, we structure the file to suit the purchase channel and the lender's requirements.
Drilling and exploration equipment covers surface and underground drill rigs, blast hole drills, and exploration rigs used across coal, gold, iron ore, and base metals operations.
Haul trucks and dump trucks includes rigid body haul trucks, articulated dump trucks, and off-highway trucks from manufacturers like Caterpillar, Komatsu, Hitachi, and Volvo. These are typically the highest value assets in a mining fleet and often require specialist lender assessment.
Crushers, screens, and processing plant covers jaw crushers, cone crushers, impact crushers, screening plants, conveyors, stackers, and wash plants used in quarry and mining operations. These assets can be financed individually or as a complete plant package.
Underground mining equipment includes underground loaders (boggers), shuttle cars, continuous miners, roof bolters, and underground haul trucks. These assets operate in harsh conditions and lenders assess them differently from surface equipment.
Support and ancillary equipment covers water trucks, graders, compressors, generators, service trucks, and light vehicles configured for mine site use.
We also finance mine-spec versions of excavators, dozers, and loaders.While these asset types are covered under our broader equipment finance offering, the lender assessment changes when the equipment is deployed on a mine site rather than a civil or construction project. Hours, operating conditions, and contract income all factor into how the file gets assessed.
Who Mining Equipment Finance Is For
Mining equipment finance suits a range of operators across the Australian resources sector. The common thread is businesses that need high-value equipment to fulfil contracts and generate revenue on mine sites or in quarry operations.
Mining services contractors are the most common borrowers. These businesses win contracts with mine operators to provide earthmoving, drilling, haulage, site preparation, or rehabilitation services. Lenders assess these files on the strength of the mining contract, the operator's track record, and the asset itself.
Quarry operators run crushers, screens, loaders, and haul trucks to produce aggregate, sand, gravel, and road base. Quarry equipment typically runs high hours and lenders familiar with the sector understand the revenue model and asset utilisation.
Owner-operators stepping up from labour hire represent a growing segment. Experienced operators who have been working on mine sites for years are moving into plant ownership to capture better margins. Specialist lenders will assess industry experience alongside time in business, which means an operator with 15 years of mining experience but a two-year-old ABN can still get approved.
Earthmoving businesses diversifying into mining contracts already own civil equipment but need mine-spec machinery to take on resources sector work. The higher capital cost and different lender appetite for mining means these files need a broker who knows which lenders want the exposure.
Equipment hire companies that deploy plant to mine sites on day-rate or wet-hire contracts benefit from finance structures that match repayments to hire income. Lenders who understand the hire revenue model can structure approvals that standard bank credit templates would decline.
Low doc options are available for established operators. If you have been in business for two or more years with a clean credit history, many files can be approved on a director declaration and recent BAS statements without full financials.
Why Use a Broker For Mining Equipment Finance
Mining equipment finance is not a standard lending conversation. The assets are high value, the operating conditions are harsh, and the income structures are different from civil or commercial work. A broker who understands the mining sector adds value in ways that going direct to a single bank cannot.
Lender selection matters more in mining. Not every lender on a broker's panel will touch mining equipment. Some have blanket exclusions for the resources sector. Others specifically seek out mining files because they understand the contract income model and the asset values. With access to 50+ lenders, we know which ones want the exposure and how to present the file so it lands with the right credit team.
Contract income gets assessed differently. Mining operators earn income from contracts, day-rate hire, tonnage-based agreements, and progress claims. A standard bank credit template built for PAYG income or traditional business revenue often discounts or misreads this income entirely. We present mining income in the format specialist lenders expect, which means your borrowing capacity reflects what you actually earn.
Hours matter more than age. A five-year-old excavator doing 1,200 hours a year on a suburban subdivision is a completely different proposition from a five-year-old excavator doing 5,000 hours on an iron ore operation. We work with lenders who assess mining equipment on hour life, service history, and rebuild status rather than applying a blanket age policy.
Auction, private sale, and fleet sell-down purchases need specialist handling. Mining equipment frequently changes hands through auction houses, mine shutdowns, and fleet disposals. These purchase channels involve different documentation, inspection, and settlement requirements. We manage the paperwork, coordinate inspections, and ensure the lender is comfortable with the purchase source.
Get a Free Mining Equipment Finance Quote
Compare options from 50+ lenders with no obligation. Whether you are buying a drill rig, haul truck, crusher, or any other mining equipment, we will find the right structure for your operation.
Getting Mining Equipment Finance
Step 1: Share Your Equipment Details
Tell us what you are looking to finance, the approximate value, and a bit about your business. If you have a quote, invoice, or auction listing, send that through and we can get started straight away. No paperwork is needed at this stage.
Step 2: We Match You to the Right Lender
We review your situation and match the file to the lender best suited to your asset type, purchase source, and income structure. Mining files go to lenders who understand contract income, high-hour equipment, and the resources sector. You will receive a clear outline of rates, terms, and repayment options before anything is submitted.
Step 3: Approval and Settlement
Most mining equipment finance approvals come through within 24 to 48 hours of submission. Once approved, we coordinate settlement with the dealer, auction house, or private seller and handle all the documentation so you can focus on getting the equipment to site.
Mining Equipment Finance FAQs
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