MINERS FIND RICH VEIN IN NEW ENERGY

Mining Industry Investment in Renewable Energy Will Reach Almost $20 Billion by 2020

May 17, 2012 (Pike Research)

“…Even as demand for mineral resources rises, driven by emerging economies, mining companies are under ever-increasing pressure from governments, customers, and other stakeholders to operate in a sustainable manner. Many of the key industry players in the mining sector have developed energy saving strategies and are investing directly into renewable energy infrastructure…

“…According to a new report from Pike Research, worldwide investment by the mining industry on renewable energy and energy conservation will reach approximately $8.4 billion by 2016 and nearly $20 billion by 2020…Under a more aggressive scenario, in which the global economy expands more rapidly and policy mandates pertaining to climate change are more robust, spending could reach $15.6 billion by 2016 and $30 billion annually by 2020…”

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“…[O]verall market capitalization in the mining industry has soared by 26%...The Asia Pacific region, which has seen its market share of the worldwide mining sector increase to 44% in the last decade, will see the greatest investment in renewable energy in the mining industry through 2020, at $9.4 billion…

“…In the United States, the market will reach $4.6 billion in the same year. In general, Pike Research anticipates that investments in, and purchases of, renewable energy technologies from the mining industry will range from 10% to 20% of total energy expenditures during the forecast period…”

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