Global decline in Mining, Quarrying Sector

The United Nations Industrial Development Organization (UNIDO) in a report said that growth in global production from activities relating to mining and quarrying - a sector that includes the mining of coal and the extraction of crude petroleum and natural gas has slowed down.

World Statistics on Mining and Utilities 2012 showed that the total world production of the mining and utility sectors slowed to a growth rate of 1.9 per cent per annum between 2005 and 2010, compared to an average annual growth of 2.7 per cent between 2000 and 2005. In industrialized countries, output from these sectors rose at the marginal rate of 0.3 per cent per annum between 2005 and 2010, compared to 0.8 per cent over the previous five years. In developing countries, growth slowed to 3.6 per cent per annum between 2005 and 2010, compared to an average annual growth of 5.0 per cent between 2000 and 2005.

Mining and quarrying produce goods through the extraction of minerals, such as coal and iron ore, petroleum and natural gas, as well as through the quarrying of stone, sand and other materials. Utilities are products, such as electric power, natural gas and water, which are supplied to consumers via permanent infrastructure, such as lines and pipes. The mining and utilities sectors are classified as industrial activities according to United Nations recommendations for industrial statistics.

 UNIDO’s World Statistics on Mining and Utilities 2012 shows that while the utilities sector continued to grow at a healthy rate thanks to an increased demand for electricity and water supplies, mining activities had only shown a modest growth rate.