Outlook Good as Mining Industry Skips Economic Downturn

As emerging markets continue to consume vast amounts of global resources, the industry will move forward at a healthy pace, Caterpillar’s president announced today.

Speaking at the MINExpo event in Las Vegas, US, Caterpillar president of the Global Mining Division Christopher C Curfman offered up a healthy ten-year outlook.

"We are very optimistic about this industry," said Curfman.

But while demand for machinery and mining in the developing world - namely China and India - may be strong, Curfman also highlighted the problem of an ageing fleet of trucks, wheels and wheel loaders, which needs to be addressed.

To overcome this, Caterpillar is hoping to meet the demand for new equipment to support mining in new regions with an emphasis on "leveraging technology to improve safety" in response to customer feedback, said Curfman.

By Ozge Ibrahim