Mining equipment demand to rise sharply

Mining equipment demand to rise sharply

Global demand for mining equipment is expected to rise 9.3% every year through to 2009 – by which time it will be worth US$27.5 billion, according to a new study.

Global demand for mining equipment is expected to rise 9.3% every year through to 2009 – by which time it will be worth US$27.5 billion, says a new study by US-based research firm, Freedonia Group Inc.

Demand for new equipment – including separately sold parts and attachments – has risen sharply in line with the rise in metals prices and is expected to continue going forward.

Eastern Europe is expected to show the largest increase in demand for equipment as it emerges from years of underinvestment, followed by Asia, the Africa/Middle East region and Latin America.

The 336 page report – entitled `World Mining Equipment` – costs US$5,400 and can be ordered direct from the company.

Source: www.mining-journal.com

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