Ongoing damand in mining machinery

Ongoing damand in mining machinery
Global demand for specialized mining machinery and equipment is projected to increase over five percent per year through 2011 to more than $30 billion. Advances will be fueled by continued demand for metals such as iron ore and copper. Also, the ongoing global thirst for energy will boost coal output. Prices for mineable commodities (especially metals like copper and iron ore) have shown growth in recent years. This has led to intensified efforts to mine metal ores, and thus has generated strong demand for products like mining machinery. Meanwhile, coal, facing dwindling reserves in numerous countries, remains in demand as an alternative source of energy in an era of high oil and gas prices, while demand for industrial minerals (clays, sand and gravel, stone and a myriad of others) has benefitted from the general upsurge in commodities markets.