Coal production in 2014 is poised to see a 36 million ton increase, reaching just over 1 billion tons. This a 3.6 percent rise from last year and will represent the industry's first expansion in the last two years.
Overall, Barclays capital data shows the commodity market fell by $88 billion in the first 11 months of 2013, a record within the sector. Therefore, organizations mining gold and silver will have to utilize their operational budget optimally to make up for potential losses within these markets.
Approval of an iron ore mine in Australia is likely to help generate more sales for mining equipment manufacturers, a development that could lead to more companies adopting predictive maintenance technology such as load sensors.