Timetric’s MIC ( Mining Intelligence Center) recently did a survey of 630 managers of mines throughout the globe and found that there are more mines expecting an increase in South America during the next year, compared to other mining regions throughout the world.
Those surveyed were requested to lay out any spending changes that are being planned over the coming year, that differ from the previous 12 months. According to this study, in South America, a greater share of those surveyed have plans to spend more over the next year.
The answers offered to those surveyed were, ‘significant reduction, slight reduction, stay the same, slight increase, and significant increase.’ With spending freezes currently taking place around the world in the mining industry, comparing each planned out spending trend throughout the globe provided interesting and varied results. Sixteen percent of those surveyed in South America stated answered ‘significant increase’ in what they will be spending over the next year. This was the highest percentage in comparison to any of the other regions like North America with 3%, Europe and Australia with 4%, Asia with 9%, and Africa with 10%.