declining commodity prices a key economic concern for oil exploration nations and mining industry
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Mining Industry Business Confidence Report Market Share: Ken Research

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Mining Industry Business Confidence Report Market Size - The existing economic environment is unfavorable or very unfavorable for the mining industry, and customer confidence levels will remain constant in H1 2016 (January 2016-June 2016).\n

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declining commodity prices a key economic concern for oil exploration nations and mining industry

Declining Commodity Prices a Key Economic Concern for Oil Exploration Nations and Mining Industry

The implication of falling oil prices in oil-exporting countries has benefited oil importing countries
  • A number of structural Fiscal reforms, the adjustment in fiscal policies and framework favoring growth, equity considerations, liquidity management and more flexible exchange rate regime and Reform of energy prices and taxation can lead to improved position of oil exporting countries.
  • Ken Research announced latest publication on, “Mining Industry Business Confidence Report H1 2016” which provides a comprehensive analysis of the current economic environment and changing trends in the mining industry. The publication discusses impact of falling oil prices on global economy and reasons of change in the sector. Additionally, the report includes the factors determing global mining industry trends and improvements in IT infrastructure and new product for sustainable growth in the industry.
The fall in global oil prices over the last years deemed to be an outcome of the global oversupply, due to the sharp increase in production of North America shale oil in recent years, coupled with a fall in demand because of a slowdown in economic growth in China and Europe. In addition, the OPEC has not decreased production to maintain prices. The impact of falling oil prices varies from importing countries to exporting countries. Where, in oil-exporting countries, such as Saudi Arabia, Russia and Norway this has affected the economy of the country, threaten its credit rating and has turn it from creditors to debtors. Additionally, GDP growth is dampening as export revenues are falling. In contrast, the impact of falling oil prices on GDP growth is overwhelmingly positive in importing countries. China, India and Indonesia have more energy-intensive economies and therefore gain greater benefits from lower oil prices.
  • In current scenario, as commodity prices are falling, Mining industries are struggling and amidst the sharp slowdown in exploration activity, mining suppliers will suffer from sharp reduction in order books and be forced to cut down prices of their equipments and services over coming period.
  • In order to sustain growth and improvement in the mining industry, productivity and operational efficiency, mining industry must focus on Innovation via automation and technology. As a result, Firms' competitiveness will increase as technology is utilized for operational management and processes, aimed at cost reduction and improving company’s financial position. By integrating their operational system, optimizing supply chain and outsourcing various activities.
Some of the significant factors governing the global mining industry during this period include:
  • Volatile and uncertain scenario
  • Financial institutions and markets losing credibility
  • Diminishing confidence of counterparties
  • Effective stagnation of the interbank market
  • Cost inflation
Key Topics Covered in the Report:
  • Economic outlook and growth prospects
  • Macroeconomic environment
  • Mining industry past and expected performance
  • Procurement budget and expenditure outlook
  • Projected change in supplier prices - Machinery and Equipment - Overall and regional
  • Projected change in supplier prices - Power and Energy - Overall and regional
  • Average expenditure per purchase - Overall
  • Investment allocation for equipment purchases -Region
  • Change in procurement budget expenditure - Region
  • Change in mining equipment budget -Region
To know more on coverage, click on the link below:
  • Related Reports:

Contact:Ken Research Ankur Gupta, Head Marketing & [email protected]+91-124-4230204