The mining industry fell by nearly 6% in the year 2020 with a series of the leading mining companies having to shut down. Mining industries will be separated by 22% in 2021 with a series of new investments and a massive recovery plan after the Covid 19 pandemic.
One of the largest companies that is set to increase in this expansion is the Rio Tinto and BHP mines with an estimated investment portfolio of up to $7.5 billion throughout 2021 2022 and a $2.6 billion iron ore mine in development. There is going to be a boom in US mining.
Other major investors include the Anglo-American company which is estimated to stand up to $5.7 billion and $6.2 billion in 2021 compared to their overall spending of $4 billion in year 2020. Mining partnerships in Peru are also taking a look at spending up to $1.6 billion on the new land.
Vale is another company that’s estimated to spend up to $5.8 billion and a growth of $4.4 billion in 2020. The cap for their spending in 2021 is up by 1.8 billion and it’s estimated that their new development will cost $850 million for a new mining site in Australia. Expansion projects in northern territories are also continuing to bolster growth in this company.
Norilsk Nickel is increasing their I up to 33% in the year 2021 with $1.76 billion in spending and an estimation between 3-3.4 billion dollars in new spending throughout 2021. Their latest expansion plan includes nearly $4 billion of investment through 2022 to 2025.
Throughout each of these companies we see a significant investment and plans to scale after the Covid 19 pandemic.
This post was written by Justin Tidd, Director at Becker Mining Communications! For over 15 years, Becker Communications has been the industry’s leader in Cave radio Communications and electrical mining communication systems. As they expanded into surface mining, railroads, and tunneling they added wireless communication systems, handheld radios, tagging and tracking systems, as well as gas monitoring.