What is the Contract Mining Services industry?
The Contract Mining Services industry is in the mature stage of its economic life cycle. Industry players are heavily reliant on investment and production levels in Australia's overall Mining division. When production increases, often due to rising commodity prices, mining companies may seek to expand their operations and explore for new resources, and outsource their core operations to contract mining firms.
Industry value added (IVA) is used to measure an industry's contribution to the overall economy. IVA is forecast to increase at a compound annual rate of 1.3% over the 10 years through 2020-21. Although IVA is growing, the industry is expected to underperform annualised real GDP growth of 2.8% over the same period. This trend is characteristic of a mature industry... purchase to read more