Global mining industry is one of the largest and fastest growing industries globally and is contributing significantly towards the growth of the economy. Mining essentially refers to the process of ore extraction of metals and minerals from underground mines. In recent years, the industry has witnessed significant growth post-economic crisis which has contributed towards recovery of economy from global recession. In addition, high investments by emerging and matured economies on infrastructure & transportation sector may further drive the mining industry towards a positive future.
Global mining industry comprises of mining of various minerals such as base metals, coal, iron ore, bauxite, precious metals, manganese and diamond among many others. Iron ore in power plants & construction and aluminium in transportation sector are most popular among other minerals. The industry is highly fragmented and competitive with key players adopting innovative technologies to achieve high operational efficiency and productivity. In terms of technology, automated remote and bioleaching technologies are most used.
Presently, the industry is adopting vertical integration strategies in order to control commodity value chain across mining to production and application stages. With current volatility in the industry, mining companies are increasingly investing in automation & technologies such as mobile technology, data analytics and enhanced drilling techniques in order to improve mining intensity by reducing energy & capital consumption. Many companies are investing in renewable energy installations, automated mining processes and other innovative energy technologies to achieve optimization in overall energy consumption.
In addition, many mining companies are using data integration systems to collect large data through equipment monitors, sensors and other devices for data analysis. The system also involves integration of operational systems such as programmable logic controllers (PLC), SCADA, etc. with their enterprise resource planning (ERP) platforms to ensure improved decision making process.
Although, the market is facing material and metal/mineral scarcity, dynamic operating costs along with rise in mineral recycling may pose threat to the mining industry growth.
ASDReport.com provides a good collection of reports on mining industry. A range of reports are available on mining chemical, drilling, mining waste management, metallurgy, connected mining and much more.