RungePincockMinarco (RPM) has signed an agreement to acquire Australia-based iSolutions, which provides software for mining asset management, lifecycle costing and budgeting.

The acquisition will unite RPM’s mine production and simulation software with iSolutions’ equipment maintenance and costing software to create a new enterprise solution.

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Following the acquisition, the production and maintenance teams of both companies will use the same software application to increase productivity of their mobile mining equipment.

RPM CEO and managing director Richard Mathews said: "Mining is a very capital intensive industry and mobile mining equipment that moves material makes up a large proportion of the capital and operational spend for every mining company.

"We have always wanted our products to be integrated with the industry’s leading production, costing and simulation systems and this transaction does exactly that."

"RPM has invested heavily in new innovative products, including our ultra-short-term production execution system (XECUTE), our planning systems (XPAC Solutions) and our haulage simulation product (HAULSIM)."

iSolutions’ AMT software is used to track repair and maintenance of mining equipment, including loading units, haul trucks, dozers and graders from original equipment manufacturers (OEMs).

With the addition of iSolutions software products, RPM is aiming to increase its footprint in areas of mine planning, scheduling, execution, simulation and financial costing and budgeting.

iSolutions co-founder and managing director Graeme Elgie said: "For the last 20 years, we have worked tirelessly building software solutions for companies that sell, manage, repair and maintain large mining equipment.

"We have always wanted our products to be integrated with the industry’s leading production, costing and simulation systems and this transaction does exactly that."

Mining companies that are currently using iSolutions’ software are Glencore, Newmont, Anglo American and Newcrest.