SUGAR LAND, TX–(Marketwire – May 16, 2011) – Industrial Info Resources (Sugar Land, Texas) today announced the release of its new Mining Tracker service to help customers better identify and pursue business opportunities in the international mining industry.
Mining Tracker will give industry participants increased detail about mines and mining projects around the world in an easy-to-access format. Mining Tracker will allow users to rapidly identify mines and projects in 25 mining-related standard industry classification (SIC) codes. IIR also is increasing its global project coverage of the Metals & Minerals Industry, again to meet customer demand for up-to-date market intelligence in this dynamic global industry.
“Mining is big right now, and it is growing rapidly,” said Joseph Govreau, IIR’s vice president of global research for the Metals & Minerals Industry. “Mining equipment companies are ramping up capacity to meet global demand.” At the end of April, Caterpillar Incorporated (NYSE:CAT) (Peoria, Illinois) reported dramatic gains in first-quarter revenue and earnings. For more information, see May 2, 2011, article — Caterpillar Continues Trend of Increased Profits.
Mining Tracker, which has been under development for months, will provide customers with easier access to vital data about mining projects. The Metals & Minerals database on which Mining Tracker is based is updated daily by IIR researchers working in nine regional offices around the world as part of IIR’s Living Forward Reporting Principal™ to ensure customers receive the most timely and accurate market intelligence.
“The mining segment accounts for about 65% of the value of the overall Metals & Minerals Industry,” Govreau noted. “For those who sell equipment or services mainly to the mining industry, Mining Tracker will help them more rapidly zero in on business opportunities around the world.”
Around the world, Industrial Info is tracking about 2,100 active mining projects worth approximately $890 billion. About 25% of those projects, by value, are located in Latin America, while 23% are in North America and 20% are in Oceania (Australia).
“Mining activity is surging in a number of regions, including Latin America, Canada, Australia, China and South Africa,” Govreau said. “China, India and other developing nations continue to experience very strong economic growth, which is driving demand for copper and coal.”
Strong global demand for copper, iron ore, gold, silver, coal and rare earths have pushed those commodities to record-high prices. Gold is selling for more than $1,500 per ounce, and copper prices are more than $4 per pound, Govreau said.
Govreau noted that the mining industry is seeing the rise of “mega-mines” valued at $5 billion to $10 billion. High-grade resources are becoming rarer, which has forced companies to develop lower-grade deposits. Getting an adequate return on investment (ROI) requires larger mining projects to take advantage of the economy of scale.
“In many cases these mega-projects are in remote parts of the world with little or no infrastructure, so in addition to the mine and processing facilities, the projects involve construction of roads, rail, port terminals, overland conveyors, slurry pipelines, desalination plants, power plants and other associated infrastructure,” said Govreau.
IIR will provide even more detailed information about a mining project’s capacities, types of equipment, processing technologies and mining methods (underground or above-ground) in a subsequent version of Mining Tracker, expected to be released later this year.
IIR’s client service representatives can answer customer questions about Mining Tracker or demonstrate the tool’s features in a web-based training session. For more information, current and prospective subscribers to IIR’s Metals & Minerals database can schedule an appointment by calling IIR’s Member Center at 1-800-762-3361 or sending an email to [email protected].
Industrial Info Resources (IIR), with world headquarters in Sugar Land, Texas, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR’s quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what’s happening now, while constantly keeping track of future opportunities. For more information send inquiries to [email protected] or visit us at www.industrialinfo.com.