4 Ways the Mining Industry Shaped the Job Market
When people think of mining, they mostly think of mining for gold, silver, and diamonds. However, mining is an important industry that plays a critical role in our every day lives. Mining is responsible for the materials that allow our vehicles to run and our factories to produce goods at a high level. Mining is also an industry that spurs education and innovation especially when it comes to technology. This blog post looks at four different benefits created by the mining industry.
1. Significant Job Creation
Because raw materials are so valuable, mining as an industry has a positive impact on the economy. Many mining projects bring jobs to rural areas where there aren’t many options for employment. The economic boost from mining projects helps communities enhance their quality of life while supporting the local infrastructure such as schools and small businesses.
The demand for raw materials is only continuing to increase. Mining is dangerous, but necessary work. Advancements in technology have improved the overall safety of the work involved acquiring raw materials. Underground mining technology will continue to make mining safer for new entrants to the industry.
Mining is also responsible for creating many high paying jobs for people in regional areas. In Ontario, the mining industry is the largest private sector employer of Aboriginal Canadians. Mining also generates millions every year in personal tax revenues for the government.
2. Mining Promotes The Development Of New Technology
Thanks to the strenuous demands of the mining industry, new technology is always on the horizon. Concepts such as deep underground subway tunnels and water pipes may have practical applications in the future thanks to innovations from mining. Many of the technologies used in the mining industry are used to keep large, growing cities safe.
Advancements in underground mining technology also have a positive effect on ancillary industries. The creation of underground mining tools spurs the availability of engineering and factory jobs. Equipment designed for mining can also make canal constructions, establishing foundations for large buildings and deep excavation projects much easier.
3. Mining Increases Export Revenues
Raw materials exported from a country has a significant impact on annual export revenues. The additional revenues can be used to eliminate trade deficits and reduce unemployment. Countries like Australia have enjoyed an economic boom thanks to the activities of the mining industry. In 2017, Australia had mining generate more export revenues than any other sector.
Mining also has a positive impact on GDP. In 2016, Russia, China, and Brazil all saw growth in their GDP thanks to the global demand for raw materials. Prices for popular raw materials such as Nickel, aluminum, zinc, and lead also bode a promising future for the mining industry.
4. Mining Gathers The Raw Materials Necessary For Items We Use On A Daily Basis
Mining has a significant impact on many of the conveniences we enjoy today. Without raw materials, producing the technology we use on a daily basis would be impossible. Innovation and improvements in the mining industry will help increase the efficiency of our ability to generate technology.
Without lithium, we wouldn’t be able to produce batteries, solar panels or circuitry for our devices. Making vehicles and air travel more efficient relies on our ability to mine lighter composites from the earth. Our energy sources are also dependent on oil sands, coal, and uranium which are all extracted from ore.
All in all, mining will continue to be an essential part of how modern civilization functions. Innovations in the mining industry can help us find ways to save time, money and energy in other sectors.