Fleet finance · Mining services
Fleet finance for mining services
Mining services finance is contract-driven lending for the plant, haulage and light vehicle fleets that support mine sites, structured so repayments and asset terms line up with the length of the contract being serviced.
How fleet finance works for mining services
Mine-spec light vehicles come in batches — ten or twenty utes fitted with roll bars, beacons, isolators and radios — and financing them one by one is slow and expensive. A fleet facility gives you an approved limit to draw against as vehicles are delivered, with one credit assessment covering the lot. Fit-out costs can usually be included in the financed amount. Because mine vehicles cover enormous distances and come off site in rough condition, we set conservative balloons rather than optimistic ones.
The cash-flow pattern we plan around
Large mobilisation spend up front, then monthly claims to a major mining client on 30–45 day terms for the life of the contract.
What mining services typically fund
- Mine-spec light vehicle fleets
- Loaders, water carts and support plant
- Service trucks and workshop equipment
- Mobilisation and camp establishment costs
Fleet finance for mining services: the numbers
| Typical amounts | $100,000 – $5,000,000 |
|---|---|
| Term | 24–60 months |
| Indicative rates | 6.5% – 12.5% p.a. |
| Repayments | Monthly per vehicle schedule |
| Speed | 1–3 weeks to establish, then 24–48 hours per vehicle |
| Documents mining services usually need | ABN and contract or letter of award · 12 months of bank statements and latest financials · Fleet or plant schedule with quotes |
Rates are indicative, change without notice and depend on the lender, product, asset, term and your credit profile at the time of application. They are not an offer of finance. Comparison rates, where shown, are true only for the example given.
Key terms
Mining services equipment finance
Mining services equipment finance is secured lending for the vehicles and plant used to service mine sites, where the finance term is set against the length of the client contract rather than the maximum life of the asset.
Contract-matched term
A contract-matched term is a finance term deliberately set no longer than the contract generating the income, reducing the risk of carrying repayments on idle plant after a scope ends.
What is fleet finance?
Fleet finance is a master facility that funds multiple vehicles for one business under a single approved credit limit. Vehicles are added by drawdown as they are acquired, without a separate credit application for each.
What is a fully maintained fleet lease?
A fully maintained lease bundles the vehicle payment with running costs such as servicing, tyres, registration and roadside assistance into one monthly amount, giving predictable costs and reducing fleet administration.
How many vehicles make a fleet?
Most financiers treat five or more vehicles as a fleet for facility purposes, though some set the threshold at three. Below that, individual chattel mortgages are usually simpler and no more expensive.
Questions from mining services
How is mining services equipment financed against a contract?
Lenders match the finance term to the length of the mining contract being serviced, with balloons or operating leases used so the repayment fits the contract and the equipment can be returned or refinanced at the end. Plant, haulage, light vehicle fleets and site accommodation are all financed this way. The signed contract is the key document.
Can I finance a fleet of mine-spec utes and light vehicles?
Yes. Fleet finance covers mine-spec utes, buses and light trucks with the safety fit-out included, under a master facility that lets vehicles be added as crews grow, often with fleet pricing and a rental or lease option so vehicles are replaced at the end of each contract.
How do mining contractors fund mobilisation and monthly claims?
A working capital facility or invoice finance against monthly claims to the mining client covers wages, fuel and accommodation until claims are paid 30 to 45 days later. Because the debtors are large miners, invoice finance is well priced and can advance up to 90 per cent of each claim within a day or two.
What do lenders want to see from a mining services business?
The contract or purchase order with the mine, a history of claims paid in the bank statements, financials for larger amounts, the equipment list and evidence of site compliance. Lenders like contracted work with major miners, so a broker presenting the contract and margins clearly speeds approval.