The face of mining is ever-changing in Australia. What was once a fast-growing industry witnessed declines as demand for resources fell, and values slid. As a result, many smaller players have left the industry.
However, larger companies are re-calibrating their operations to stay ahead of the economic downturn in China. This foresight is enabling these companies to adapt and change to this new environment, which, in turn, has seen a number of trends emerge in 2016.
CHANGES IN MINING AND CONSTRUCTION MARKET
According to Deloitte, an Australian economics and financial strategy firm, the mining and construction industry has entered into a tussle. While the downturn in China wasn’t entirely unexpected, it has been difficult for many mining companies to readjust. The Australian resources sector has endured deep wounds from the battle, but they’re beginning to recover.
The mining and construction market, says Deloitte, has hit rock bottom and is now making a come back towards a more sustainable future. Companies that have made it through the battle are stronger and also smarter. These companies are following a number of trends to sustain their viability well into the future.
THE TOP MINING MACHINERY TRENDS OF 2016
1. Keeping up with technological changes
As technology evolves, so too does the mining industry. New machinery and solutions are emerging that have automated or semi-automated processes. Companies that embrace this technology free-up miners to carry out other tasks and increase their overall productivity.