Quick Answer

Mining equipment financing covers surface drill rigs ($200,000–$2,000,000), jaw and cone crushers ($50,000–$2,000,000), mining haul trucks ($300,000–$5,000,000+), and longwall systems ($5,000,000–$50,000,000+). MSHA compliance and miner certification are federally required. Caterpillar, Komatsu Mining, Sandvik, and Epiroc dominate the market. Terms run 48–84 months with 0–20% down depending on credit (0% available for qualified borrowers) for most surface equipment.

Mining Equipment Financing Guide

Mining Equipment Financing

From a $50,000 jaw crusher to a $50,000,000+ longwall mining system. Caterpillar, Komatsu Mining, Sandvik, Epiroc, Metso Outotec, and Liebherr. This guide covers monthly payment estimates, MSHA compliance requirements, OEM financing programs, and what lenders require for mining equipment applications.

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$50K–$50M+Mining Equipment Price Range
48–84 moTypical Loan Terms
15–25%Typical Down Payment
MSHA RequiredFederal Law — All Mining

Key Facts: Mining Equipment Financing

Price Range$50,000 – $50,000,000+
Top BrandsCaterpillar, Komatsu, Sandvik, Epiroc, Liebherr
Down Payment15–25% typical
Loan Term48–84 months
Credit Score650+ preferred
MSHA RequiredYes — Federal Law

Mining Equipment Types

All Mining Equipment: Prices, Brands & Finance Terms

The table below covers all major mining equipment categories with price ranges, leading manufacturers, and typical financing terms. See our how commercial equipment financing works guide for a full breakdown of loan vs. lease structures. For new vs. used mining equipment financing, terms vary significantly based on equipment hours and condition.

Equipment TypePrice Range (New)Top Models / BrandsFinance Term
Surface Drill Rigs$200K–$2MSandvik DR580/DR780, Caterpillar MD6420/MD6640, Epiroc DM45/DM50, Furukawa HCR1248–72 mo
Underground Drill Rigs (jumbo)$300K–$1.5MSandvik DT923i/DT1132i, Epiroc Boomer E2C/M2C/S2D, Atlas Copco48–72 mo
Longhole Drills$500K–$2MSandvik DL421/DL531, Epiroc Simba M6C/M7C60–84 mo
Blast Hole Drills$500K–$5MCaterpillar MD6200/MD6380, Sandvik D65/D90, Epiroc DML/DM-L60–84 mo
Jaw Crushers$50K–$800KMetso Nordberg C80/C120/C200, Sandvik CJ408/CJ613, Terex Jaques48–72 mo
Cone Crushers$100K–$2MMetso HP300/HP500, Sandvik CH430/CH660, Terex Cedarapids48–84 mo
Gyratory Crushers$500K–$5M+Metso Superior MK III, Sandvik CG820/CG880, FLSmidth NT60–84 mo
Impact Crushers$80K–$600KMetso Nordberg NP series, Sandvik CI541, Eagle Crusher, Powerscreen48–72 mo
Vibrating Screens$30K–$500KMetso DF/VS series, Sandvik, Terex MPS, McLanahan36–60 mo
Mining Haul Trucks (rigid frame)$300K–$5M+Caterpillar 773G/785D/793F/797F, Komatsu HD785/HD1500/930E, Liebherr T 264/T 282C60–84 mo
Articulated Haul Trucks (mining)$200K–$700KCaterpillar 725C2/730C2/740C, Komatsu HM300/HM400, Volvo A40G/A60H48–84 mo
LHD Loaders (Load-Haul-Dump)$200K–$1.5MSandvik LH514/LH621, Epiroc ST14/ST18/ST1030, Caterpillar R1700/R290060–84 mo
Continuous Miners$1M–$5MJoy Global (Komatsu) 14CM/12HM, Sandvik MR341, Terex DB, CAT60–96 mo
Longwall Mining Systems$5M–$50M+Joy Global/Komatsu, Sandvik, Caterpillar84–120 mo
Heap Leach Systems$500K–$10M+Custom systems, Weir Minerals, FLSmidth60–84 mo
Wash Plants / Processing Equipment$100K–$5MMcLanahan, Terex Washing Systems, CDE, AggFlow48–72 mo

Brand Comparison

Surface vs. Underground Mining Equipment: Financing Comparison

FactorSurface Mining EquipmentUnderground Mining Equipment
Typical Price Range$200K–$5M+$300K–$50M+
Down Payment Required15–20%20–25%
Lender AppetiteBroad — most equipment lendersSpecialty lenders preferred
Resale MarketBroader, active auction marketNarrow, specialized buyers
Equipment Useful Life10–20 years (surface drill)5–12 years (heavy wear)
MSHA Part Applicable30 CFR Part 56 (surface metal/nonmetal)30 CFR Part 57 (underground)
Financing Term Max84 months84–120 months (longwall)
Mine Life DocumentationNot always requiredRequired for large systems

For brand-level comparisons, see our Caterpillar equipment financing guide and Komatsu equipment financing guide. For American vs. Asian equipment financing considerations, Chinese brands require specialty lenders.

Manufacturers

Mining Equipment Manufacturers

CaterpillarDeerfield, IL — USA 🇺🇸

World's largest construction and mining equipment OEM. equipment lenders offers dedicated large mining equipment programs. Cat 793/797 haul trucks and MD6000-series drills are industry standards.

Komatsu MiningJapan 🇯🇵

Acquired Joy Global in 2017. Now offers the broadest underground mining equipment portfolio alongside surface haul trucks (HD785/930E) and shovels. equipment lenders available.

Sandvik MiningSweden 🇸🇪

Leading manufacturer of underground drill rigs, LHD loaders, and rock processing equipment. Sandvik's AutoMine automation platform is widely adopted. Strong global service network.

EpirocSweden 🇸🇪 — spun off from Atlas Copco 2018

Specializes in drilling, rock excavation, and demolition equipment. Epiroc Boomer jumbo drills and Simba longhole drills are global underground mining standards.

Liebherr MiningGermany 🇩🇪

Manufactures ultra-class haul trucks (T 264/T 282C), mining excavators, and dozers. Liebherr T 282C at 400-ton payload is one of the world's largest haul trucks.

Metso OutotecFinland 🇫🇮

Dominant in crushing and grinding. Metso Nordberg jaw and cone crushers are found in aggregate and mining operations globally. Merged with Outotec in 2020.

FLSmidthDenmark 🇩🇰

Supplies mineral processing equipment including gyratory crushers, mills, flotation cells, and filtering systems for large mining operations.

TerexNorwalk, CT — USA 🇺🇸

Manufactures crushing and screening equipment under Terex MPS, Cedarapids, and Powerscreen brands. Strong presence in aggregate and quarry markets.

McLanahanHollidaysburg, PA — USA 🇺🇸

Manufactures wash plants, scrubbers, and mineral processing equipment. Strong presence in coal, aggregates, and industrial minerals. US-made, family-owned.

Weir MineralsScotland 🇬🇧

Slurry pumps, hydrocyclones, and mineral processing equipment under the Warman and Cavex brands. Critical for heap leach and wet processing operations.

WirtgenGermany 🇩🇪

Surface mining machines (surface miners) used in coal, limestone, and salt deposits as an alternative to drill-and-blast. Part of John Deere group since 2017.

Eagle CrusherGalion, OH — USA 🇺🇸

Manufactures portable crushing and screening plants. Popular for quarry and recycling operations. US-made, available through dealer networks.

Licensing & Compliance

MSHA Requirements & Mining Permits

Mining operations in the United States are among the most heavily regulated industries. MSHA compliance is a federal requirement — not optional — and lenders financing large mining equipment packages often ask for documentation of compliance status.

  • MSHA Part 46/48 Miner Training — Federal law, required for all mining employees. New miner training: 24 hours minimum. Annual refresher: 8 hours.
  • MSHA 30 CFR Part 56/57 — Safety and health standards for surface (Part 56) and underground (Part 57) metal and nonmetal mines.
  • State Mining Permits — Vary by state and mineral type. Surface mining operations require reclamation bonds in most states.
  • EPA NPDES Permit — Required for water discharge from mining operations (National Pollutant Discharge Elimination System).
  • Blasting License — ATF federal license (FEL) for explosive storage plus state blasting permits required for drill-and-blast operations.
  • Electrical Certifications — Underground mine electrical installations require MSHA-approved designs and certified electricians.
  • Confined Space Entry Training — Required for underground and tank/vessel work under OSHA 1910.146.

For financing eligibility, lenders may require proof of mineral rights, state mine permits, and MSHA operator ID number. See our equipment financing credit requirements guide for full documentation checklists.

Income Potential

Mining Operation Revenue Ranges

Small Quarry

1–3 machines

$500K–$3M Revenue

Thin margins 5–15%

Crushed stone, sand & gravel. Local market. Single jaw crusher + screen + loader. High capital cost, commodity pricing pressure.

Mid-Size Aggregate

Full crushing plant

$3M–$15M Revenue

10–20% margins

Multiple product lines (base, #57, screenings). DOT contracts. Owns rock face. Crushing plant + drill rig + multiple haul trucks.

Contract Mining

3–5 machines

$1M–$5M Revenue

15–25% margins

Drill and blast, load and haul for mine owners. Lower capital risk than owning mineral rights. Drills, blasters, haul trucks.

Large Surface Mine

Full fleet operation

$10M–$100M+ Revenue

Varies by commodity

Coal, copper, gold, limestone. Large haul truck fleet, multiple shovels, processing plant. Often project-financed or corporate credit.

Equipment Financing

0% Down Available on All Brands

Axiant Partners finances all major equipment brands — Caterpillar, Komatsu, John Deere, XCMG, SANY, and 200+ more. 0% down available for qualified borrowers regardless of brand. Terms 36–84 months.

  • ✓ 0% down for qualified borrowers
  • ✓ All brands including XCMG and SANY
  • ✓ New and used equipment
  • ✓ Startups and established businesses
  • ✓ Decision in 24–48 hours

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Common Questions

Mining Equipment Financing — FAQ

What is the monthly payment on a Cat 793 haul truck?
A new Caterpillar 793F mining haul truck (240-ton payload) costs approximately $3,500,000–$5,000,000. Financed over 84 months at 7% APR, monthly payments run approximately $52,000–$75,000/month. Many large mining haul truck purchases are structured as equipment-backed loans with balloon payments or balloon-to-term structures. equipment lenders offers specialized large mining equipment programs. Most Cat 793 buyers are large mining companies with established credit facilities, so actual rates are often negotiated at the fleet level.
What MSHA certifications are required for mining equipment operators?
Federal MSHA law requires all mining employees to receive miner training under 30 CFR Part 46 (for surface miners at sand, gravel, and stone operations) or Part 48 (for underground and other surface mines). New miner training is 24 hours minimum. Annual refresher training is 8 hours per year. Specific equipment operator certifications (for blasting, for example) are required at the state level. MSHA training records must be maintained and are subject to inspection. Financing lenders for mining equipment typically ask for proof of compliance.
Can I get financing for a small quarry operation?
Yes. Small quarry operations can finance equipment packages including a jaw crusher ($150K–$400K), screen deck ($50K–$150K), and wheel loader ($120K–$300K) through equipment lenders. Typical requirements: 2+ years in business, 660+ personal/business credit, 15–20% down payment, and documentation of aggregate contracts or land/mineral rights. SBA 7(a) loans up to $5M are available for quarry equipment. Many lenders treat aggregate operations favorably because crushed stone is a stable, local-demand commodity.
Is it better to finance new or used mining equipment?
Used mining equipment (3–7 years old) can offer 30–50% savings over new. However, major mining OEMs have certified used programs with inspection reports that make financing easier. Lenders scrutinize used mining equipment carefully — hours, maintenance records, and MSHA compliance documentation are essential. Underground equipment loses value faster due to harsh operating environments. For surface mining, late-model used haul trucks and drills from Tier 1 brands finance at competitive rates. See our new vs. used equipment financing guide for full details.
Can XCMG or Chinese mining equipment be financed in the US?
XCMG, LGMG, and other Chinese mining equipment brands can be financed in the US but require specialty lenders. Standard banks and OEM programs will not finance competing brands. Chinese mining equipment financing typically requires 20–30% down, runs 2–3% higher APR than Tier 1 brands, and may have shorter maximum terms. MSHA compliance documentation must be available regardless of brand. See our American vs. Asian equipment financing guide for a full comparison.
What is the typical down payment for a mining drill rig?
Surface drill rigs ($200K–$2M) typically require 15–20% down for established mining operations. Underground drill rigs may require 0–20% down (0% available for qualified borrowers) due to higher wear in harsh underground environments. Sandvik and Epiroc drills hold their value best and command the most favorable financing terms. New drill rigs from major OEMs may qualify for 10–15% down with strong credit. Blast hole drills over $1M often require detailed mine plan documentation and proven mine life to support the financing. See our credit requirements guide for documentation details.
Are SBA loans available for mining equipment?
Yes. SBA 7(a) loans (up to $5M) and SBA 504 loans (up to $5.5M for equipment and real estate combined) are available for US-based mining and quarry operations. SBA loans offer longer terms (up to 10 years for equipment), lower down payments (10%), and competitive rates. Requirements include US citizen or permanent resident ownership, for-profit business, 2+ years in business, and good personal credit (680+ preferred). Mining operations with federal or state mineral leases must document the lease terms. See our how financing works guide for SBA program details.
How does financing differ between surface and underground mining equipment?
Surface mining equipment (haul trucks, drills, shovels) finances more easily because it has broader resale markets, longer useful life, and easier appraisal. Underground equipment (LHD loaders, jumbo drills, continuous miners) is specialized, experiences faster wear, and has a narrower resale market — making lenders more conservative. Underground equipment typically requires 0–20% down (0% available for qualified borrowers) (vs. 15–20% for surface), shorter maximum terms, and stronger financial statements. Underground longwall systems ($5M–$50M+) are project-financed based on mine reserves and contracts rather than equipment collateral value alone.

Ready to Finance Your Mining Equipment?

From a $50,000 jaw crusher to a $5,000,000 haul truck fleet, explore financing options from lenders who specialize in mining and aggregate equipment.

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Informational resource only. Not an offer of credit or guarantee of approval. Terms vary by lender and equipment type.