Mining Industry: A Global Outlook
San Jose, CA (PRWEB) September 10, 2008
Globalization and sustainable development are major factors that are anticipated to positively influence the trends in the mining industry. Mining activities are conducted globally, with the exception of Antarctica. United States, USA, Canada, Australia, South Africa, and Chile are leaders in the worldwide mining sector, owing to high levels of technical expertise held by these countries in the field of exploration methods and technology. Gold, base metal, diamonds, and platinum group elements are among the most important commodities explored for and developed, worldwide.
Asia leads the global mining market, in terms of demand growth, while North America and Europe continue to be the frontrunners, in revenue terms. Developing countries such as China and India are expected to be major driving forces for the global mining industry, owing to the robust economic growth and escalating demand for metals and minerals such as nickel and copper from these regions. China's emergence as a major source of mining operations, as well as metal consumer has transformed the global mining industry. China, India, Indonesia, and other CIS states are the primary producers of gold, coal, tungsten, tin, diamonds, base metals, and PGEs in Asia. As the region holds enormous potential in the mineral exploration arena, several mining majors from developed countries are making huge investments in the Asian mining sector. However, exploration opportunities in some Asian regions may be hampered, due to the depleting reserves brought on by over mining.
Global production of aluminum is on the rise, owing to the stupendous growth in regions such as China, Western Europe and North America. Growth in production mirrors the rising consumption of aluminum, specifically in automobile and packaging sectors. Transportation, infrastructure and power sectors constitute the major end-users for aluminum. The demand for aluminum is rising substantially in Asia, in particular for primary aluminum, driven largely by the significant growth in industrial consumption.
Copper is one of the most widely used metals, and finds application in numerous industries ranging from electrical and plumbing to roofing and builder's hardware. Western Europe, Asia-Pacific, and North America emerged as the leading consumers of copper, followed by the Middle East. Escalating demand from developing countries, rising use in information technology sectors, and growing utilization in industrial applications are some of the factors contributing to enhanced consumption of copper. To cope with rising consumption particularly from markets such as India and China, copper production is set to increase.
Global mining industry is witness to rapid rise in metal prices, owing to insufficient supply and increasing consumption. While prices of nickel and copper are soaring, coal prices registered decline in recent years. Other minerals such as zinc, uranium, cobalt, aluminum, and silver exhibited substantial rise in prices. Lack of required equipment, shortage of skilled manpower, and rising operational overheads are among the major challenges facing the worldwide mining industry.
The report titled "Mining Industry: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a bird's eye view of the industry, and highlights the implications boded by the consolidation wave, and rising mineral prices. The discussion on the global market is laced with 61 statistically rich, market data tables evaluating demand and consumption patterns by country/region and end-use applications, across major market verticals. The reader also stands to gain an introductory prelude to regional markets such as the US, Canada, Russia, Spain, and Philippines, among others. The report provides an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 566 companies worldwide.
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