Transense wins mining truck tyre contract in Burkina Faso

The contract was won by Translogik, the sensor systems provider's trading division for tyre management solutions, and specifies that the tyres will be supplied on a rental and service basis via WATS, a wholly owned subsidiary of Rana Motors & Metal Works Engineering Company.

Vibi Chandra, regional manager for West Africa at Rana, said: "The considerable advantages that Nordgold have seen at their sister mine SOMITA, where we installed iTrack in May 2018, have persuaded Nordgold to adopt the system at BISSA. As we have previously stated, West Africa is a region with dozens of mines and hundreds of haul trucks and it is our intention to introduce our new enhanced service, including iTrack, to our existing portfolio of mines as well as other mines across the region."

The rental system is advantageous to mining companies as it allows them to benefit from the productivity gains and overhead savings provided by using the system without any of the associated capital cost while providing AIM-traded Transense with a recurring revenue stream.

Graham Storey, chief executive of Transense, said: "We are very pleased to have added another Nordgold owned mine in West Africa to our growing list of iTrack users. WATS are a well-established and highly regarded tyre service provider in West Africa and with their depth of contacts we are hopeful of an accelerated rate of adoption moving forward."

Transense Technologies' shares were up 0.72% at 70.00p at 1308 GMT.