Global Mining Activity Remains Strong in Face of Changes

July 14, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The global mining sector has been in an upcycle since 2016, and this movement remains strong as some countries open new mines for metals and minerals for the energy transition and others turn back to coal for power generation, according to Joe Govreau, Industrial Info's vice president of research for the Metals & Minerals Industry. Govreau shared the outlook for the mining sector in a recent Industrial Info webinar.

Govreau said there has been a spectacular rebound in mining activity post-COVID, but it's not near the level of spending seen in the last boom cycle, which was driven by China's industrial buildout. Current drivers include population growth, urbanization and commodity consumption in China. However, constraints also exist: COVID-19 remains an underlying problem, resource nationalism is on the rise in certain countries, and supply-chain disruptions are hindering some projects.