Minova is currently targeting underground coal companies and mine management in both Russia and India as high growth markets. The Company said the two countries were potentially a bigger market than Australia, but it depended on the speed the mines adapted to primary roofbolting with resin capsules.
Lokset Resin Capsules are used primarily as an anchoring medium for rockbolts and long tendons to provide roof and sidewall support in mines and tunnels. It can be used with both hydraulic and pneumatic roof bolters.
To date Minova has set up subsidiaries and facilities in each country. The Russian company, Minova TPS, has been established for four years and is now looking at expansion into hardrock and coal mines in Kazakhstan.
In India, Minova Minetek PVT, is still in the bedding down stages.
Russia is also being targeted with the Tekblend product, a high volume grout used for erecting ventilation seals.
In more traditional markets, Minova chief executive Sandy Arbuthnot predicted growth in the US after the company acquired Sandvik Chemical Products Division, which makes resin cartridges for use in roof control in underground mining and a range of mine sealants.
Australia is another market where he expected to see an increase in business, particularly in the metalliferous mines area after Minova pioneered the introduction of resin roofbolting.