Mining Industry Prepares for Growth in 2018

Researched by Industrial Info Resources (Sugar Land, Texas)--It has been a tumultuous few years for the mining industry, coming off a four-year period of cost cutting and productivity optimizations. Looking back, 2016 can be seen as a turnaround year, as metals prices bottomed out and began a bumpy turnaround that continues today.

Project activity has picked up in several regions including Australia and Peru.

Supply disruptions and stronger-than-expected economic growth has encouraged commodity prices, and there is significant activity building for copper, cobalt, zinc and lithium projects as a result. Major mining firms, including BHP Billiton Limited (NYSE:BHP) (Melbourne, Australia), Rio Tinto plc (NYSE:RIO) (London, England), Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) and Newmont Mining Corporation (NYSE:NEM) (Greenwood Village, Colorado) have all announced increases in capital expenditures for 2018.

Mining firms are evaluating more than $1.2 trillion worth of mining projects globally according to Industrial Info's Metals & Minerals Market Intelligence Platform.

These projects include active projects in all stages of activity from the early exploration stage to planning, engineering and under construction. Canada, China, Australia and India are the top four countries in the world for mining project development.

Click on the image at right to view a chart showing the top 10 countries for Global mining projects.

The top 10 countries account for 74% of all mining projects based on the value of those projects.

Join Joe Govreau, Industrial Info's vice president of research - Metals & Minerals, on August 30, 2017, for the 2018 Global Mining Project Spending Outlook Webinar, as he discusses trends and provides analysis of the drivers impacting spending in the global mining industry in 2018.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.