De Beers, the world’s leading mining company, in operation since 1888, has awarded a second tender to RentWorks Africa, an asset rental company. The agreement follows on a successful relationship between the two companies over the past three and a half years. De Beers first engaged RentWorks at its Venetia mine in 2008.
Rental has since become a popular choice as mines have realised that capital can be better spent on core operations while matching the cash flow of capital equipment with income generation.
Having experienced the benefits of a flexible rental solution firsthand, De Beers is opting to engage Rentworks on a further project. The new agreement sees De Beers renting two CAT 6030 FS excavators for an initial five-year period at its Voorspoed mine in the Free State, with the option to either return the machines or continue to rent them after the contract ends, depending on business requirements at that point.
In 2008, Voorspoed, an open-pit diamond operation located 30km northeast of Kroonstad, became the first new major diamond mine to be opened in South Africa in almost two decades.
Features of the agreement include a fixed rate and developing an hourly usage solution, which allows De Beers to manage its budgets, projections and schedules more efficiently.
“RentWorks is about asset rental solutions,” says De Klerk. “Our aim is to assist clients in procuring, financing, managing and returning assets in a way that best benefits their businesses. We offer flexible and cost effective finance solutions and we are delighted about the award and will ensure that we continue to tailor value adding rental solutions to meet client needs”.