Is the Mining Industry Destined for a Recovery in 2014? | Blog

Is the Mining Industry Destined for a Recovery in 2014?

Is the Mining Industry Destined for a Recovery in 2014?

Tuesday, 25 February 2014

 

Blog mining

 

Caterpillar, a major manufacturer of mining, construction, energy, and transportation equipment such as engines, gas turbines, semis, tractors, motor graders, emergency generators, and related equipment, this week announced its fiscal results for 2013 and outlook for 2014. While Caterpillar’s 2013 revenues were disappointing, declining 16% over the course of the year, the company’s outlook for 2014 is optimistic.

 

Caterpillar attributes its 2013 decline largely to reduced spending in the mining sector. However, the signs are robust looking forward: Caterpillar’s forecasts show signs of improvement in the mining sector, indicating the likelihood of a recovery toward the end of 2014. In particular, Caterpillar notes economic growth and continued strong mining production worldwide.

Why is this relevant for the translation and interpreting industry? Mining companies operate on a global scale, and often require translation services. Translationz has been translating documents for the mining industry for nearly 10 years, and in this time we too have been affected by the industry’s ups and downs. We have been incredibly busy some years, with nonstop translation of mining-related documents such geological reports, mining feasibility studies, contracts, mineral exploration documents, and human resource manuals. We have translated these and other documents to and from languages including Portuguese, Spanish, French, Russian, and Indonesian and Mongolian. But in 2013, the mining industry suffered a sharp pullback, and we noticed a drop in translation projects from clients in the mining-related sector.

Happily, 2014 feels different already, with many proposals and inquiries into translation services for the mining industry. We look forward to 2014 being a great year for the mining industry!

 

Karen CEO 70

Written by:
Karen Hodgson, CEO of Translationz

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