Industry Analysis & Industry Trends
In the five years through 2014-15, the Oil and Mineral Exploration Drilling industry has followed a volatile growth path. The industry provides services for mining companies engaged in greenfield oil and mineral exploration. This is the riskiest area of the Mining division, where companies are engaged in looking for new and economically viable deposits of resources. Expenditure on greenfield exploration fluctuates significantly year on year in line with small miners' ability to access capital. When commodity prices fall or sentiment around the Mining division declines demand for greenfield exploration services rapidly adjusts. In 2011-12 and 2012-13, drops in demand have resulted in contractions in industry revenue... purchase to read more
Industry Report - Industry Products Chapter
The industry provides a wide range of exploratory drilling services to mining and mineral exploration companies. The types of exploration drilling services depend on the relative operational costs of each drilling type, the mineral or commodity being explored for and the location of the potential mine site.
Diamond drilling penetrates hard rock or hard ground using a diamond-impregnated drill bit attached to the end of a hollow drill that cuts a cylindrical core in the hard rock. This is the most common style of exploration drilling and relies on the technology of the diamond drill head. Industrial diamonds are set into a soft metallic matrix, where the drill head is mounted onto the stem that connects it to the rotary drill... purchase to read more