{"id":81656,"date":"2023-11-03T05:20:06","date_gmt":"2023-11-03T05:20:06","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81656"},"modified":"2024-01-15T04:20:06","modified_gmt":"2024-01-15T04:20:06","slug":"is-global-mining-activity-on-the-rise","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/is-global-mining-activity-on-the-rise\/","title":{"rendered":"Is Global Mining Activity on The Rise?"},"content":{"rendered":"

With demand for an array of precious Critical Minerals growing, the global mining industry faces its biggest shakeup in many decades. <\/span>Central to the Energy Transition, the age of Strategic Minerals has arrived, and mining activity, now more than ever, is vital to a nation’s best interests. <\/span>Rare metals are the key to ensuring that high-tech industries can survive and thrive, supporting domestic manufacturing, power generation and storage, transport and logistics to defence and national security.\u00a0\u00a0<\/span><\/p>\n

And with each new development, the race to secure their steady supply heats up.<\/b><\/p>\n

Australia is one of many countries worldwide to have been blessed with an abundance of Critical Minerals, and alongside China, Chile, the US and others, we remain a lynchpin in global supply chains.<\/span><\/p>\n

There\u2019s a simple equation here: more demand for minerals equals more mining activity.<\/b><\/p>\n

And as miners gear up to launch themselves into the next boom, they face various challenges to overcome and improvements to make in their operations. <\/span>But where there\u2019s a will, there\u2019s a way, and with extreme profits on offer, we can expect the pace of mining activity to pick up around the globe and the race for net-zero gathers speed. <\/span>But what will mining\u2019s new dawn look like in practice?<\/span><\/p>\n

 <\/p>\n

Engineering a Critical Minerals Revolution<\/strong><\/h2>\n

The transition to a low-carbon economy is not just something that miners facilitate with their products but also something they must embrace internally. <\/span>Mining remains an incredibly heavy polluter, and in some kind of self-fulfilling prophecy, operators must dig up the raw materials to furnish their own decarbonisation efforts.<\/span><\/p>\n

Governments are also playing an increasing role in mining activity and its supply chains.<\/b><\/p>\n

After the supply disruption triggered by the COVID pandemic, governments are looking at Critical Minerals as a strategic priority as uncertainty reigns in the global economy. <\/span>After noticing rapid demand growth and dangerous levels of supply chain concentration, governments are forming coalitions to implement new policies and activate funding for secure access to Critical Minerals.\u00a0<\/span><\/p>\n

All this combined will have a significant and lasting effect on the mining business.\u00a0<\/b><\/p>\n

An inflow of public funds will also prompt miners to reconsider their rates of return on mining and supply chain assets.\u00a0<\/span>While also contending with elevated investment risk and more significant competition as governments skew the playing field in their favour with incentives and interventions. <\/span>As mining activity ramps up to meet demand, miners worldwide must navigate a fresh and complex web of challenges absent in the industry’s earlier years.\u00a0<\/span><\/p>\n

 <\/p>\n

Mining Activity is Rising, But There\u2019s a Catch\u2026<\/strong><\/h2>\n

In 2022, the world’s top 40 mining companies recorded excellent financial performance, with group revenue of US$711 billion, close to the highs of 2021.\u00a0<\/span><\/p>\n

Balance sheets are cash-rich, while critically, debt remains low.<\/b><\/p>\n

But there\u2019s a fly in the ointment, that of rising costs, as miner\u2019s net profits have taken a hit across the board. <\/span>In fact, a recent survey showed a leading chunk of mining CEOs were adamant that their seemingly thriving traditional mining businesses would be economically unviable in a few years.\u00a0<\/span><\/p>\n

Amid bulging costs and economic headwinds, their ray of hope remains the Critical Minerals revolution.<\/b><\/p>\n

In summary, and to address our initial question, mining activity is and will continue to surge over the near future. <\/span>While this all seems rosy, miners may not be able to rely on the \u201csuperprofits\u201d of years gone by and now face an increasingly complex world in which to operate.\u00a0<\/span><\/p>\n

In addition, where traditional mines were set up to export vast amounts of crushed rock essentially, Critical Minerals require much more work to procure and value-added processes before sale. <\/span>All this will ensure mining is a fascinating industry to watch in the coming years.\u00a0<\/span><\/p>\n

 <\/p>\n

Dust suppression is a critical issue in the world of mining and resources.<\/strong><\/p>\n

Learn more about GRT\u2019s industry-leading and IoT-connected\u00a0SMART Dosing Units<\/a>, and discover how we\u2019re driving better dust suppression solutions for all!<\/strong><\/p>\n

If you\u2019d like to talk with an expert, simply\u00a0contact us<\/a>!<\/strong><\/p>\n

Your feedback is important to us.\u00a0<\/strong><\/p>\n

If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a REVIEW<\/a>.<\/strong><\/p>\n

 <\/p>\n

References:<\/strong><\/h2>\n

https:\/\/www.pwc.com\/gx\/en\/industries\/energy-utilities-resources\/publications\/mine.html<\/span><\/a><\/p>\n

https:\/\/www.statista.com\/statistics\/1127203\/critical-minerals-production-share-by-majority-producing-countries-global\/<\/span><\/a><\/p>\n

https:\/\/minerals.org.au\/resources\/jobs-boom-in-mining\/#:~:text=Mining%20employment%20has%20continued%20to,employment%20reach%20more%20than%20274%2C000<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

With demand for an array of precious Critical Minerals growing, the global mining industry faces its biggest shakeup in many […]<\/p>\n","protected":false},"author":5,"featured_media":81657,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nIs Global Mining Activity on The Rise? - GRT<\/title>\n<meta name=\"description\" content=\"Mining Activity surges with rising demand for Critical Minerals. 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