2020 was a year of turmoil. While more optimistic than 2020, the state of 2021 remains uncertain. Lucky for the mining industry, there is positive growth forecasted over the next few years.
The US gold mining sector will see steady growth over the coming years. Non-ferrous and precious metal prices will pave the way for project development in copper and gold. With elevated gold prices and improving greenfield and brownfield projects, gold is paving the way for an optimistic mining future.
The outlook for coal however is gloomy. It is not expected to recover this year as US thermal coal consumption hits a multi-decade low. The pandemic’s disruptions to the power sector accelerated structural weaknesses in the coal industry and ultimately led to idled operations. With the recent election we can expect to see a return to an environmental policy similar to the Obama administration. Overall, the US coal mine production will continue to decline over the coming years as competition from less expensive power sources reduces domestic thermal coal demand.
Our data findings make for an insightful read, with each table telling a different story. From the pandemic and structural decline to the election and environmental policies, each state’s salaries echo the future of the mining industry.
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