Transense Technology's tyre monitoring system a hit with Southern Copper

Transense Technology’s tyre management trading division, Translogik, on Monday won a contract to supply 24 iTrack II monitoring systems and closed in on an opportunity to supply 100 more.

The provider of sensor systems for the industrial, mining and transportation markets said the contract included full suite data analytics for large haul trucks at Southern Copper's Cuajone mine in Peru.

Josue Vilchez, general chief of mine operation, said: "We have conducted extensive trials over the course of the last 18 months with all of the current market leading systems and we have concluded that iTrack is the best TPMS system in the mining environment available."

Vilchez added that iTrack is likely to be rolled out to Southern Copper’s extended fleet of a further 100 trucks in Peru after the initial installation.

The systems will be supplied on a subscription model basis, allowing Southern Copper to benefit from the productivity gains and overhead savings provided by using the system without any of the associated capital cost while providing Transense with a recurring revenue stream.

Graham Storey, chief executive of Transense, said: "Southern Copper's decision to adopt the entire suite of data analytics is an indication of the increasing awareness of the value of the analytical data that our 24/7 monitoring and analytics centre in Chile produces which greatly enhances the overall value of the system."

Transense Technology’s shares were unchanged at 44.00p at 1104 GMT.