You are here: Mining Surplus » Articles » Boom expected in Mining Equipment

« Back to Articles

Boom expected in Mining Equipment

Milwaukee Journal Sentinel by AVRUM D. LANK

September 21,2006

Boom expected in Mining Equipment

Production of mining equipment will be among the fastest-growing manufacturing businesses in the nation for the next two years, according to a quarterly survey released Thursday.

While manufacturing as a whole will grow 3.6% this year, the production of mining and oil and gas machinery will leap 20%, according to the survey by the Manufacturing Alliance/MAPI.

For 2007, the survey said the production of mining equipment would grow 12%, almost six times faster than the general manufacturing growth rate of 2.3%.

The boom is fueled by rising prices for minerals, which increases demand for mining equipment around the globe, the survey noted.

The finding is good news for southeast Wisconsin, which is home to the nation's two largest makers of mining equipment, Joy Global Inc. of Milwaukee and Bucyrus International Inc. in South Milwaukee. Both firms are experiencing good growth and hiring workers.

Joy's P&H Mining Equipment subsidiary recently announced the sale of three mining shovels to the China National Coal Development Corp.