Press Release: Industry Dynamics, Growth, Threats & Opportunities in the Mining Industry – 2012-2013
London, October 2nd, 2012– Of respondents that took part in this survey, 54% are ‘more optimistic’ about revenue growth for their company over the next 12 months than the previous 12 months. Reasons behind this include the expectation of gradual economic recovery in a few emerging economies due to steps being taken to contain costs and re-evaluate strategies to overcome business threats, channel marketing efforts and the expansion of mining operations in foreign locations. The top priorities for the global mining industry in 2012 are ‘improving operational efficiency’, ‘expand in current markets’ and concentrate on ‘new products and services’ while in 2011, emphasis was on the ‘expansion of business abroad’. Mining industry buyer and supplier respondents plan to increase headcount within their organizations with a steady increase of up to 2% over the next 12 months.
China was identified to be the important region for growth among emerging markets, along with India, Brazil and South Africa. Expansion of mining activities and an increase in demand for metals together with stronger economic growth than other areas of the world are considered important reasons by respondents for selecting these regions. The Chinese mining industry is set to register strong growth, driven by demand from the power, manufacturing and construction industries and the Chinese government's US$600 billion stimulus package. Coal will continue to dominate mineral production, followed by the metallic minerals and non-metallic minerals categories, which will also see some growth. Additionally, India is experiencing key interest from international mining companies to expand their operations in these regions, which is further expected to enhance the mining activity within India.
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