{"id":8823,"date":"2024-08-19T16:25:50","date_gmt":"2024-08-19T06:25:50","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8823"},"modified":"2024-09-01T16:27:01","modified_gmt":"2024-09-01T06:27:01","slug":"the-global-opportunity-for-mining-services","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/19\/the-global-opportunity-for-mining-services\/","title":{"rendered":"The global opportunity for mining services"},"content":{"rendered":"\n

<\/h1>\n\n\n\n

\"\"Contributor<\/a><\/p>\n\n\n\n

\"mining<\/figure>\n\n\n\n

Image: Kings Access\/stock.adobe.com<\/p>\n\n\n\n

Australian mining equipment, technology and services (METS) sectors generated $114 billion in revenue in 2020, according to the latest Austmine national survey<\/a>, of which two-thirds of companies exported $17 billion of goods and services (five per cent of all exports in 2020).<\/p>\n\n\n\n

Strong resources and energy exports and a steady increase in mining investment suggest METS sectors have grown considerably in subsequent years.<\/p>\n\n\n\n

And expenditure is expected to continue. Australia\u2019s mining industry invested $11.5 billion in the March quarter of 2024, up six per cent from a year earlier and nearly 60 per cent higher than the March quarter of 2019. Current estimates suggest the mining industry invested $53 billion during the 2023\u201324 financial year.<\/p>\n\n\n\n

Further, rising exploration expenditure indicates an increase in broader capital expenditure from resources and energy firms in the coming years. Spending on exploration and other mining support services averaged $486 million per quarter in the year to March 2024, 25 per cent more than the average quarterly spend in the prior five years.<\/p>\n\n\n\n

In particular, growth in exploration expenditure since 2020 suggests interest is rising in precious and industrial metals (such as copper and iron ore) and critical minerals<\/a> amid the ongoing shift toward net-zero global emissions.<\/p>\n\n\n\n

The June 2024 Resources and Energy Quarterly report<\/a> shows exports of clean energy metals and minerals are projected to remain over $50 billion per annum over the next two years. Meanwhile, there are expectations for enhanced exploration activity over the next few years for traditional energy commodities including coal, gas and uranium that are currently experiencing relatively strong prices.<\/p>\n\n\n\n

To execute these plans, services \u2013 ranging from provision of labour, explosives and transport to draining and pumping services, drilling and blasting services, railways, piping and electrical cabling \u2013 are all poised to benefit.<\/strong><\/p>\n\n\n\n

For access to more economic insights, explore Export Finance Australia\u2019s World Risk Developments here<\/a>. If you would like to learn more about how Export Finance Australia could support your business with finance to secure more contacts, visit the website<\/a> or contact the team today at 1800 093 724.<\/em><\/p>\n\n\n\n

This article is also available on the Export Finance Australia website<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Contributor Image: Kings Access\/stock.adobe.com Australian mining equipment, technology and services (METS) sectors generated $114 billion in revenue in 2020, according to the latest Austmine national survey, of which two-thirds of companies exported $17 billion of goods and services (five per cent of all exports in 2020). Strong resources and energy exports and a steady increase in … Continue reading “The global opportunity for mining services”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-8823","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2ij","jetpack-related-posts":[{"id":2329,"url":"https:\/\/yinghuiinternational.com\/index.php\/2017\/04\/10\/joy-global-to-be-renamed-komatsu-mining\/","url_meta":{"origin":8823,"position":0},"title":"Joy Global to be renamed Komatsu Mining","author":"yinghui","date":"April 10, 2017","format":false,"excerpt":"Japanese based industrial machinery provider Komatsu has completed its acquisition of Joy Global, expanding its global mining services business. 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