Mining Drilling Services Market Size, Share COVID-19 Impact Analysis
Mining drilling services refer to the mining process for penetrating/extracting rocks, mines, and minerals from various depths beneath the surface.
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The services are generally carried out for blasting and rock removal work, clearance or underground the surface, drilling and boring of surface, overburden removal, other development and preparation services of mineral properties and site, and other similar excavating and earth-moving services. Mining drilling services are extremely important for determining the types and structures of the rocks underneath our feet, leading to their wide usage for mineral exploration along with site investigation for mine development, production, and mine closure.
COVID-19 IMPACT:
Uninterrupted Mining Production Exploration Amid COVID-19 Pandemic Drives Market Growth
Demand for mining drilling services mainly depends on mining activity. 2020 was a remarkable year for the mining industry due to the impact of the COVID-19 pandemic. Despite travel restrictions and nationwide lockdown, the mining industry was still functioning. Furthermore, during the operational shutdown, continuous research development activities were underpinned, leading to the opportunity opened up by the global pandemic.
Increasing Exploration of Metals Minerals to Shape Market Dynamics
Drilling service at mining sites is majorly used for two main reasons, exploration, which focuses on gaining detailed information about the land formation below the ground surface; and production to facilitate the extraction of iron ore. Numerous investments to explore produce more metals and minerals to satisfy the growing needs of metals are projected as one of the leading factors in propelling the growth of the market size.
KEY INDUSTRY DEVELOPMENTS:
February 2022 – Perenti's idoba grew capability with acquisitions of Orelogy and Atomorphis. The acquisition of these companies is aligned with Perenti's strategy of establishing digital, innovation, and technology services that improve sustainability and operational performance outcomes for the mining industry.
March 2021 – Major Drilling surpassed its 2,000-meter drill record with the addition of another extreme deep hole of 2,021.3 meters PQ3 for Oyu Tolgoi. These are exceptionally deep holes for PQ and constitute the specialized drilling expertise of the Major Drilling Mongolia team. These records are commendable and rare among drill crews globally.
