Gainwell Engineering is actively embracing technological advancements with a strong focus on digitization in mining equipment operations.

Dipankar Banerjee
Wholetime Director & Chief Executive Officer, Gainwell Engineering

How do you see the mining industry evolving in the next 5 years?

Gainwell Engineering manufactures room & pillar equipment for the underground mining industry, we believe the mining industry is poised for an exciting evolution over the next five years. This is primarily driven by a surge in demand for energy around the world and specially in emerging markets. Projections indicate that the global underground mining equipment market will reach approximately USD 28 billion by 2031, and we anticipate significant growth fuelled by industrialization and urbanization of economies in India, China, Indonesia, and others. The transition towards sustainable practices and the adoption of advanced technologies will further enhance operational efficiencies, creating a vibrant landscape for innovation and investment.

What key trends are shaping the demand for mining equipment?

Large volumes of coal are needed for power generation in several regions across Asia, Africa and Australia. This includes China, Indonesia, India and even the United States to a certain extent where despite a decline in demand the overall volume of coal needed remains healthy.

Additionally, electrification and automation in mining operations is also a key trend shaping demand. As companies strive to reduce emissions and improve safety, there is a growing emphasis on electric and hybrid machinery. Advancements in digital technologies such as IoT sensors and data analytics are revolutionizing operational efficiency, driving demand for modern equipment that can support these innovations.

What advancements in mining equipment technology are you currently focusing on? How are digitalization and automation transforming mining operations?

Gainwell Engineering is actively embracing technological advancements with a strong focus on digitization in mining equipment operations. The integration of digital technology enables real-time collection and analysis of operational data from machines, providing valuable insights into equipment performance. This data-driven approach has proven instrumental in guiding engineering improvements and enhancing equipment safety features.

The digitization initiative has delivered tangible benefits in product maintenance and operational efficiency. By monitoring machine performance in real-time, potential issues can be identified and addressed proactively, leading to reduced equipment downtime and improved overall productivity. The easy access to operational data has streamlined troubleshooting processes and failure investigations, allowing for faster resolution of technical issues.

What are the primary challenges facing the mining equipment industry today?

The underground mining equipment industry faces several critical challenges that significantly impact its operations and growth. One of the fundamental issues is the limited number of manufacturers specializing in underground mining machinery. This constraint has led to an underdeveloped ecosystem particularly for procurement of raw material and standardized components. Many manufacturers struggle to source materials that meet the required quality and safety standards for mining equipment. This scarcity is compounded by the continued dependence on imported critical components, which introduces additional complexity, cost, and vulnerability to international market fluctuations and trade policies. The long lead times for essential parts create significant delays in equipment production and maintenance. This situation was severely exacerbated during the COVID-19 pandemic, which disrupted global supply chains. The supply chain issues are yet to be fully normalized. The persistent disruptions continue to act as a major bottleneck for volume production, making it difficult for manufacturers to meet market demand efficiently.

The geological challenges inherent in mining operations add another layer of complexity. Different mining sites present varying geological conditions, requiring specialized equipment adaptations and robust safety measures. The diverse and often unpredictable nature of underground geological formations makes operational safety a critical concern. Equipment must be designed and manufactured to withstand these challenging conditions while ensuring the safety of mining personnel. The sector’s safety challenges underscore the crucial need for comprehensive regulation. Without proper regulatory frameworks, mining operations face increased risks of accidents and hazards.

How is your company addressing sustainability and environmental compliance in equipment design and operations?

Our company recognizes that underground mining inherently offers significant environmental advantages compared to open cast mining. Underground mining minimizes surface disruption, reduces visible environmental impact, and generally results in a smaller overall environmental footprint. By specializing in underground mining equipment, we’re already aligned with more sustainable mining practices.

A cornerstone of our sustainability initiative is our comprehensive component reuse and recycling program. At Gainwell Engineering, we have implemented a systematic approach to extend the lifecycle of our equipment through component recovery. We carefully evaluate and recover usable components from equipment after their initial service life. We maintain dedicated facilities for rebuilding machines using a combination of recovered and new components. All rebuilt equipment undergoes rigorous testing to ensure it meets performance and safety standards. This circular economy approach significantly extends the useful life of mining equipment while reducing raw material consumption.

Which segments of the mining industry (e.g., coal, iron ore, aggregates etc.) offer the most growth potential?

Soft rock mining for minerals such as coal is seeing a significant growth in India to enhance energy security and support the infrastructure development of the country. Even in the United States, coal production hit a 10-year high in 2023. While the world transitions to renewable energy, it is important for emerging markets like India & Indonesia to balance this with thermal power to maintain their energy security for a rapidly growing economy. Further, we are working on ways to modify the underground soft rock equipment manufactured by Gainwell Engineering today for applications beyond coal, potash and other soft rocks.

How does your company plan to tap into emerging markets or new applications in the mining sector?

Our company has established a significant foundation through the technology licensing agreement with Caterpillar Inc. for manufacturing underground room and pillar mining equipment. This partnership demonstrates our commitment to bringing world-class technology and expertise to the mining sector. Building on this success, we are actively pursuing additional global alliances to enhance our value proposition and expand our technological capabilities. Within India, we are strategically exploring partnerships with local machine manufacturers. These collaborations are designed to strengthen our domestic manufacturing capabilities and create synergies that benefit the local mining industry while maintaining international quality standards.

What major developments or product launches can we expect from your company in 2025?

In 2025, Gainwell Engineering has plans for significant product expansion in continuous miner lineup. The most immediate development is the launch of the GCM 345 continuous miner, which represents an important addition to our equipment portfolio.  Building on this momentum, we are preparing to further expand our continuous miner range with two additional models: the GCM 230 and GCM 445. These upcoming launches will broaden the company’s product offerings, allowing us to a wider range of mining applications and customer requirements. Additionally, we intend to cater to a growing demand for such equipment from international markets including the United States & Australia.