Q: AMC and REFLEX provide real-time geological information under the umbrella of IMDEX. How are you positioned in Mexico?
MC: Mexico has been one of the most consistent regions for us in terms of business over the last several years. The country is one of the areas where we have the best growth outlook and we expect this to continue considering the technology we provide. Our drilling fluids line is AMC’s most in-demand product here. We are also starting to launch some additional drilling systems and base tools. These products took off quite quickly in other regions and we believe the same will happen in Mexico once people see the benefits.
PS: When it comes to the products offered by REFLEX, our downhole navigation solution, which includes a range of leading survey instruments, rig alignment tools, downhole motors and software and our award winning IMDEXHUB-IQ, is seeing strong demand in Mexico and is continuing to benefit from the uptick in the market. In addition to improving our product lines, both AMC and REFLEX were rebranded recently to provide more integrated solutions and become more united under the IMDEX umbrella in terms of operations. This makes sense to us as we both work with the same drilling and resource companies and can provide complementary products and services.
Q: How do you differentiate yourself from your competitors?
MC: We were one of the few companies that were investing in R&D and brand expansion during the downturn. Our commitment has helped us gain the trust of companies. We are willing to take a different approach and this is what truly differentiates us. We also have an integrated product and service offering to be able to meet client needs in a fast and efficient manner. We have seven distribution points in Mexico to make sure we are close to all main projects. Our main work in Mexico comes from the north but we do have a few projects in the south. We are prepared to expand if the number of projects in the southern region continues to increase.
Q: How do you overcome resistance to technology from the Mexican mining industry?
PS: Digitalization is where the industry is going as a whole and this makes operators in Mexico more open to trying new technologies. It also helps that more and more international companies are starting to enter the industry as some of these are listed on the TSX and must follow strict standards. This is largely influencing how the sector is benchmarked.
MC: To overcome the challenges we face with companies that are still resisting these advances, we make sure to be present at events and in the community. We also have an agent in Mexico, COMINSA, that is greatly trusted and that has over 50 years of experience in the industry. This makes it easier to gain the trust of companies as they see our commitment to the sector and our reliability.
Q: Through what strategies is the company helping operators adapt to new trends in technology?
PS: We are continuously developing leading technologies in the industry that can optimize productivity and penetration rates. For example, the company is developing two new core technologies, CoreVIBE and MagHAMMER. Drilling has not changed in the last 50 years and we believe that the technology we can provide is going to be a major game-changer and provide one of the biggest advances in the industry. We are also talking with Leapfrog and other third-party software vendors to continuously improve our ability to manage and visualize data. The new technology we announced will be able to increase the rate of productivity and penetration rates by at least 30 percent and maximize what companies can do every day. Our idea is to transform the drilling process and help companies do more with limited time and funds. We also want to provide solutions that can meet the wide variety of options our clients require.