Top 5 Emerging Trends across the Mining Sector

Industries worldwide depend on the supply of products like minerals and metals that are products of mining. As per 2016 mining industry trends, the nickel are on an all-time low. Copper is integral to developing economies and nickel is an alloying agent for the manufacture of stainless steel.

Coal is still a leading source of energy resources. The mining sector is thus a major contributor to the nation`s economy so much so that the top 40 companies globally have reported a whopping 402 billion USD in 2015. To understand the sector better let us take a look at the price trends:

A peek into the rising trends based on the prices of minerals:

  • Nickel prices to rise 9% whilst demand grows.
  • The price of Copper to grow by 4% on an average.
  • Aluminium production on the rise and prices struggle.
  • Lead likely to struggle through 2016.
  • Zinc market looks disappointing.

 

The dilemmas continue to persist but the emerging trends may offer some solutions for industry improvements worldwide.

Changing trends in production:

Through 20th century, underground mining ruled the roost but mining is undergoing significant changes in the recent past. It is now more open to pit mining. The surface mining technique is gaining popularity like never before as it is cost effective.  The open pit technique does not involve the cumbersome process of tunnelling. The influx of technology into the process has made it possible to mine ores in a hassle free way without increasing the costs. Complex mineralogy is also possible with modernization across the production processes.

Extraction Procedure:

Underground mining is passé and pit mining is taken centerstage across mining companies. The mining industry will eventually focus on extraction processes. Besides, extraction may be infused into the chain of production including casting, purifying, manufacturing and trading of the finished product. Steel conglomerates worldwide have been employing this technique with a foresight to enter into the mining sector. This will lead to effective production at reasonable costs.

Renewable Energy

There is rising concern with regard to energy consumption across mining industries and according to a report by Deloitte, miners opine that 10% to 40% of energy savings can be achieved when industries invest in renewable energy installations. Moving towards a more automated mining process also optimizes the consumption of energy.

Advanced Technologies:

The influx of new technologies have the potential to shift the growth trajectory of the mining sector to advantage. The rising popularity of cloud computing has had a phenomenal impact on the mining industry. It helps in accurate data management, data analysis and effective sharing via cloud networks. That is not all; implementation of machines reduced labor costs.  Employing hybrid airships helps hassle-free transport of mining equipment to remote regions. Digital engagement of the workforce, process alignments and production ready technology are the sidekicks of technological advancement throughout the mining sector.

High-end Fabric Structures

The use of fabric structures for storage, maintenance and accommodation is less expensive and durable. The cost factor is the biggest plus as compared to brick and mortar buildings. Fabric structures are therefore a big plus for the mining sector. It is noted that fabric buildings are incorporated as conveyor enclosures, camp sites and buildings associated with the mining sector. If you wish to reach executives in the mining sector the mining industry list from Confaab will be beneficial.

The latest trends in mining industry can enhance quality control for higher production and integration of data for better deliverables and improved cost efficiency. For higher sustainability, mining sectors should focus on managing productions, work on safety and security challenges to help marketers get best returns and foster business growth. Besides, managing the workforce effectively will promise industry sustainability.

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