Mining
support companies are increasingly opting for 3D modeling technologies which
reduce costs of discovery, improves prospecting and facilitates focused
exploration. A geological 3D modeling tool provides computerized illustrations
of earth crust based on geological and geophysical observations made on earth
surface and earth crust. It also provides detailed mapping and visualization of
structural data of prospective mining zones and supports companies in resource
estimation of mines, thus aiding the stakeholders to better interpret the data
.This technology enhances discovery efficiency and improves exploration success
rate. For instance, BRGM, a
leading geological exploration based in France, carried out 3D geological
modeling at Gardanne coal basin.
THE
BUSINESS RESEARCH COMPANY EXPECTS THE SUPPORT ACTIVITIES FOR MINING MARKET TO
GROW TO $206 BILLION BY 2021
Asia Pacific was the largest
region in the support activities for mining market in 2017, accounting for more
than one-third of the market share. The USA was the largest country accounting
for around 19% market share.
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According to The Business
Research Company’s Consultant, Nitin Gianchandani, the coal exploration
industry is registering a significant decline due to greater access to natural
gas, wind and solar energy at lower prices and regulations designed to protect
public health. The decline in coal mining is predominantly due to
availability of advanced natural gas extraction technologies, significant
decline in solar and wind energy production costs owing to decline in solar
panels and wind turbine and generator prices along with stricter environmental
regulations in many countries. China
being one of the largest importers, miners around the globe opened new mines to
feed this vast demand, but since China’s coal usage declined in 2014 and 2015
due to weak demand from manufacturing companies in the country, this further
contributed to decline in coal mining exploration, thus leading to rapid
decrease in coal mining exploration. For
instance, Coal exploration in Australia has fallen from its high of $227
million in 3Q11 to $80 million in 3Q14 a 64% drop in expenditure within three
years and this is a trend that is being seen globally.
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CIMIC Group Limited was the largest player in the mining support
activities market, with revenues of $3 billion
in 2016. CIMIC Group’s growth
strategy aims at expanding into new markets and diversifying its product
offerings. In 2016, the company entered the Canadian market after
collaborating with KMC Mining, Edmonton-based contractor, to provide mining
services in oil sands to a Canadian energy company.
Mining support activities
comprises establishments primarily engaged in performing support activities on
a contract or fee basis for coal, metal and nonmetallic mineral(except fuels)
mining. Mineral exploration is the method of finding commercially feasible
concentrations of minerals to mine.
Support Activities For
Mining Global Market Report 2018 is a detailed report giving a unique insight
into this market. The report is priced at $6000 for an individual user. To use
across your office, the price is $9000 and $12000 if you wish to use across a
multinational company.
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