Mining industry shows betterment during first quarter
LONDON (Scrap Register): Although the customers are looking forward to improve their profitability, the mining industry is showing improvement in the fist quarter, as per Finnish engineering group Outotec.
As per the CEO of Outotec, the order intake in the first quarter had better improvement when compared to the same period last year. The improvement reflects the more positive market sentiment in the mining industry but also the low order intake in the comparison period.
The most active components in the first quarter was gold. Aluminum, copper and zinc with customers in the Middle East, Central and South America and Russia continuing to lead the way in terms of investment.
The company quoted "investments in minerals processing are expected to follow the industry's production levels, providing continued opportunities for process improvements, smaller equipment deliveries, and services,".