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(MoneyNewsWire.Net, October 31, 2018 ) Coal mines are prone to hazards and mining companies are increasingly focusing on technologies to prevent accidents and improve the safety of miners. Government regulations, and health and safety standards developed by international mining groups also promote efficient safety practices. Some of the reasons for the occurrence of accidents in mining include ineffective drilling, blasting, loading and hauling, leaking out of poisonous methane gas, coal dust, and machinery collisions. Sensor-based methane detectors use RFID technology to monitor and control the level of methane which can cause explosions. GE’s CoalPlus technology helps in reducing coal dust in mining operations by up to 90%. Companies such as Fletcher, JOY, Hilti and Orica are providing automated temporary roof support (ATRS) and mobile roof support (MRS) solutions to prevent rock falls caused by bolting of rocks, which involves inserting a steel rod into the rock formation to support the roof or sides of the rock cavity. Caterpillar’s Cat Detect Personnel technology indicates possible collisions, speeding or rollovers.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL MINING MARKET TO GROW TO $3 TRILLION BY 2021
Asia Pacific was the largest region in the mining market in 2017, accounting for more than three-fifth of the market share. The reason is that most countries in the region have significant demand for minerals and large mineral resources. Asia Pacific makes up almost two-thirds of the global non-ferrous mineral exploration expenditure.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, use of renewable energy is helping mining companies reduce power costs and control emissions in the mines. As the solar or wind projects are built close to the mine sites, the cost of connecting to the power grid is also reduced. Site-appropriate renewable energy sources are reliable, consistent and also economical. BHP Billiton, RioTinto, and Barrick Gold have started implementation of renewable energy sources in their mines. According to a report published by EY, RioTinto aims to generate 10% of 20MW – 25MW mine demand from renewables in one of their mines and expects to reduce its diesel use by approximately 4 million liters and its CO2 emissions by 12,000 tons.
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BHP Billiton Ltd was the largest competitor with 1.6% of the market, generating revenues of $30.6 billion for the financial year 2016. BHB Billiton’s strategy is to own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market. The company is focused on developing and growing its diversified portfolio of tier one assets to continue to meet the changing needs of customers.
Mining is the process of extracting minerals, metals and other valuable materials from the earth crust. Metals and minerals extracted from raw materials are widely used in industries such as agriculture, manufacturing, transportation, utilities, communication, and construction. Sand and gravel, coal and stone are non-metallic products of the mining industry.
Mining Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $8000 for an individual user. To use across your office, the price is $12000 and $16000 if you wish to use across a multinational company.
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