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Mines in Latin America more likely to increase spending

Published by
World Coal,

According to a new report by Timetric’s Mining Intelligence Center (MIC), Purchasing Trends and Intentions for Mining Equipment, Parts and Consumables in Latin America, 2015, more mines in Latin America are planning to significantly increases their spending over the next twelve months compared to any other mining region.

More than 630 mine managers were surveyed globally by MIC and were asked to summarise any intended changes in expenditure on site in the next twelve months, compared to the last twelve months.

The respondents had the choice of selecting ‘significant increase’, ‘slight increase’, ‘stay the same’, ‘slight reduction’ or ‘significant reduction’. The survey found 16% of respondents in Latin America had cited a ‘significant increase’ in their spending for the coming year. Yet in other regions respondents chose ‘significant increase’ far less. Only 10% of respondents in Africa selected this, 9% in Asia, 4% in Europe (including the former Soviet Union) and Australia, and 3% in North America.

According to the Timetric’s MICr eport, the results match the amount of operating mines in each region that are currently being expanded. Latin America has the second-highest share of operating mines currently in expansion with 15% – higher than in North America with only 2%, in Africa with 13% and Asia with 7%.

Nez Guevara, Senior Mining Analyst at Timetric’s MIC, commented: “Latin America has a higher share of mines planning substantial increases in their spending within the next twelve months than any other region, and with the final decisions regarding equipment purchases being mainly decided at the mine site level, OEMs and their resellers need to ensure they are close to the customer to benefit from these additional investments.”

Edited from press release by Harleigh Hobbs

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