Published On: Thu, Jun 19th, 2014

Will Mining Disappear Altogether In The Next Decade?

The global mining industry has been in decline for the last twenty years, and some people feel this might signal the end is coming soon. However, after doing a lot of research and looking at the figures over the last couple of months, we’re almost certain that isn’t the case. Sure, many of the traditional coal mines have closed, but that’s just because we’re all using alternative forms of energy. There’s still a huge market for precious metals and stones, which is just one of the reasons why we think mining will be around for a very long time. Contrary to popular belief, there are still hundreds of thousands of people employed in this profession all over the world, so that should tell you a thing or two about the state of mining today.

The global mining industry

Also, you only have to take a quick look at the state of the mining supplier industry to see that business is booming. Specialist companies that deal solely with providing equipment and devices to mining companies are experiencing a roaring trade at the moment, and most experts believe that could be down to hundreds of new mining firms springing up all over the place. Of course, most of the new drilling businesses are focusing their efforts on fracking, but you shouldn’t see that as a bad thing. Whilst there are many campaign groups and concerned individuals protesting against fracking at the moment, all that is sure to die down over the coming few years.

Here are a couple of the reasons why mining is here to stay…

Our love of precious metals

When you say the word “mining” to most people, they instantly think of the coal industry. However, since the 1980s, there have been more metal and stone mines than anything else, and they’re proving to be the most profitable. At the end of the day, without this, we would soon run out of materials for some of the most desirable products sold on our high streets. Also, you’d probably have no choice but to give up on tinned goods and electricity, as tin and copper are some of the most widely mined substances in the world.

Our need for energy

As I mentioned a moment ago, lots of mining companies are now altering their business models and getting involved with the fracking industry. While that isn’t necessarily mining in the way most people think about it, most of the workers within this field share the same skillset. That is one of the main reasons why the move is being made. On top of that, it’s worth mentioning that coal mines do still exist in Asian and South American countries, and even people in the western world still use the materials sourced through those means.

So, as you can see, mining is here to stay. We simply don’t have the technological knowhow to get rid of this profession altogether. Though it might disappear at some point in the distant future, we’re pretty confident it won’t be anytime soon.