Iron & Copper Lead $1 Trillion in Global Mining Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Even with uncertain economic indicators, nations with emerging consumerism and growing infrastructure requirements continue to rely on resource-rich nations to supply mined resources, including coal, copper and iron. This is driving a record number of mining projects. As part of our Global Metals & Minerals Database, Industrial Info Resources is tracking more than 2,500 mining projects around the globe. The projects have a total investment value (TIV) of about $1 trillion.

This denotes 17% growth in coverage since August 2011. During this period, iron ore mining projects increased from 278 to 291, and copper ore mining projects increased from 292 to 319.

The growth can be attributed to continued strong demand for resources, including iron, copper, coal and growing competition among miners to move projects from the concept stage to the implementation stage. This is no easy task, as constraints such as financing, geopolitical issues, permitting and technical hurdles continue to provide challenges to development.

Iron and copper mining projects account for 41% of the total mining project development worldwide.

Click on the image at right to view a breakdown of mining projects by mined product.

Coal mining accounts for 16% of the worldwide mining development. Grassroot mine construction accounts for 67% of the projects, while the remaining 33% are for in-mine/plant capital projects, including expansions, modernizations and upgrades, as well as maintenance shutdown spending.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, 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.