Australia has historically dominated the mining industry, securing a position in the global top five for production of a majority of the world's most important minerals and metals. Like most industries, Australia's mining sector has not been immune to the effects of the global economic downturn. Even the largest mining operators in the region have faced the threat of halted production and closed mines as the demand for iron ore, coal and other minerals waned. Looking ahead, it seems the Australian economy has rallied. The Central Bank has already noted Australia's emergence from the downturn as happening significantly faster than expected, while analysts forecast metals and minerals such as iron ore and copper jumping in demand by 15% in 2011-2012. Much of this turnaround can be attributed to China, who will play a vital role in not only future export revenues for Australian mining, but also growth and development as China's investments in the resource-rich country escalate.
Following the mining boom of 2006 when commodity prices soared, mining giants and SMBs alike optimistically embarked on huge project developments worth over $AU25 billion.
Currently at various stages of planning and implementation, executors of these projects show no inclination of slowing down given the confidence of capitalizing on this revival of demand. With such massive investments at risk, what is clear to these executives is that the optimization of mining infrastructure is crucial. 2011 marks the emergence of the age of technology and innovation in mining. The Australian Mining Equipment, Technology, and Services sector (MTS) estimates 2011 sales reaching over $AU12 billion, taking into account the continued economic expansion of key export recipients China and India.
In order for Australia to continue to reign in the market over countries such as the US, South Africa, and Canada, mining executives must remain at the forefront of system innovation and application of emerging technologies.
The NG Mining Summit Australia will bring together decision makers from across Australia and investors from neighboring regions to meet with top solution providers committed to maintaining Australia's competitive position in mining.
The NG Mining Summit Australia will provide a vital means of communication and an ideal framework for new business relationships to flourish.
The NG Mining Australia Summit is a product of GDS International.
Senior Community Relations Advisor