The Verband Deutscher Maschinen und Anlagenbau (VDMA) - or the German Engineering Federation - has said smart technologies are the best way to achieve efficient and sustainable operations after German mining companies saw their sales fall in 2021.
According to the VDMA, German mining technology companies saw turnover fall by 18% to €2.8 billion (US$3.17 billion) between January and September 2021, down from the €3.38 billion (US$3.83 billion) they made during the same period in 2020.
Michael Schulte Strathaus, chairman of VDMA Mining, said increased digitalisation would lead to more efficiency in the processing of raw materials and greater "resource-saving" while at the same time enabling "green extraction and processing of raw materials."
"Without mining technology, nothing will work in the industry now and in the future," Schulte Strathaus said.
"If we want to maintain our current standard of living, we need the right raw materials. Only smart mining will lead to green mining."
Additionally, mining equipment exports were just under €960 million (US$1.08 billion) between January and August 2021, a 10.4% drop YoY.
Between January and August 2021, German mining companies exported €126 million (US$142.6 million) worth of equipment to the US, its largest market, and €66 million (US$74.6 million) to China, the second-largest.
The VDMA expects sales to increase moderately by the end of 2021 but predicted that full-year sales would decline by 5-10% YoY.
