Solid mineral mining equipment

Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or (coal) seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock salt and potash. Any material that cannot be grown through agricultural processes, or created artificially in a laboratory or factory, is usually mined.

Solid mineral mining equipment

Mining techniques can be divided into two common excavation types: surface mining and sub-surface (underground) mining. Surface mining is done by removing (stripping) surface vegetation, dirt, and if necessary, layers of bedrock in order to reach buried ore deposits. Techniques of surface mining include; Open-pit mining which consists of recovery of materials from an open pit in the ground, quarrying or gathering building materials from an open pit mine, strip mining which consists of stripping surface layers off to reveal ore/seams underneath, and mountaintop removal, commonly associated with coal mining, which involves taking the top of a mountain off to reach ore deposits at depth. Sub-surface mining consists of digging tunnels or shafts into the earth to reach buried ore deposits. Ore, for processing, and waste rock, for disposal, are brought to the surface through the tunnels and shafts. Sub-surface mining can be classified by the type of access shafts used, the extraction method or the technique used to reach the mineral deposit.

The solid mineral mining equipment sector failed to hold the small gains recorded in the second quarter, falling to new cyclical lows in Q3 2015. The market was down more than 5% in unit deliveries and around 9% in equipment value, reflecting a greater decline in the larger size classes. This constitutes barely a fourth of the equipment shipped in the first quarter of 2012 when the market peaked. While there may be minor revisions in the coming months, it is unlikely to raise the reported total by more than a few percentage points if that.

No geographic market has been spared the downturn, but areas such as Asia, Australia and Latin America that saw the largest growth in machine populations throughout the minerals super cycle have been hit particularly hard. Many of these mining markets now have surplus capacity that is no doubt suppressing new machine deliveries and will continue to do so at least in the short term.

Solid mineral mining equipment

Though we believe that we’re seeing the bottom of the current contraction, it appeared that way a year ago before mineral markets deteriorated further and the small uptick in shipments reversed course. Though mineral markets aren’t expected to recover substantially in the near future, replacement demand will drive new deliveries higher as the market works through the surplus stock of equipment and miners are forced to replace machines that are already beyond their typical service life. Parker Bay’s “Market Analysis and Forecast Loading & Haulage Equipment” report analyzes the changes in the solid mineral mining equipment market and forecasts equipment demand through 2020. The full report will be published in the coming weeks.

Explanation of how the Index is Developed The PBCo solid mineral mining equipment Index is a measure of the quarterly evolution of surface solid mineral mining equipment shipments worldwide. It relies on data from Parker Bay’s Mobile solid mineral mining equipment Database and encompasses the same product range covered by the Database*. The index utilizes the value of equipment as opposed to number of units such that one $10mm excavator has the same weight as five $2mm trucks. Values are not based on the price of each unit as sold but instead an approximate value assigned to machines by size class and product expressed in constant $’s (updated annually). As such, the index does not reflect changes in equipment pricing but rather the overall sales volume. The base for the index is Q1 2007=100. Quarterly figures are not seasonally adjusted. *All products are included except draglines whose low volume, high $ value, long lead time sales can cause fluctuations that don’t reflect the quarterly changes in the market.

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