Underground Mining Market Trends

Growth Drivers

• Increasing Utilization of Electric Equipment Due to Environmental Concerns – Electrical equipment for underground mining is a relatively new invention. Fuel savings, increased efficiency, and increased production are the driving forces behind this innovation. In November 2022, Miller Technology launched a new, battery electric low-profile grader for underground mining, Miller’s E-Grader which was built by retrofitting a HBM-Novas 110-M low profile grader with Miller’s patented operated with Ionic drive system. Furthermore, in January 2020, the Caterpillar company and its dealer in South Africa, Barloworld, displayed electric-powered underground mining to carry out cost-efficient underground operations.
• Technological Advancements in Underground Mining –Several underground mining manufacturers are focusing on improving products' safety to help prevent and reduce health hazards and accidents from mining activities. Technological advancements in the latest mining equipment result in the advanced protection of workforces at mining locations. In February 2022, Orica developed rock-blasting robot for safer underground mining that significantly increases worker safety and improves efficiency. Moreover, in October 2020, Caterpillar announced a new partnership with South Dakota School of Mines & Technology to explore technologies such as advanced software used to manage construction and mining operations, autonomous robotic mining, and new equipment that increases efficiency and safety.
• Growing Need for Electricity- The power sector is primarily dependent on resources such as coal, and natural gas, for power generation which increases the need for mining and correspondingly increased the need for underground mining.

Challenges

• Environmental Damages of Underground Mining - Underground mining leads to the possibility of land subsidence and tunnel collapses since it involves large-scale movements of waste rock and vegetation. Besides, underground mining can release numerous types of toxic compounds into the air and water. Mining releases a greenhouse gas, coal mine methane which is 20 times more powerful than carbon dioxide. For instance, fossil fuel mining is estimated to be responsible for the emission of around 34 billion tons of carbon dioxide equivalent across the globe annually. The water contaminated in this manner can pollute the region surrounding the mine and beyond.
• High Maintenance Costs
• Restrictive Regulation by the Government