What kind of problems does the mining equipment industry face? How can the government help this sector?
Prices of metals in the international market mostly determine the investment levels in the mining sector. For example, when copper prices plummeted in the international market, it led to a severe financial crisis in the domestic copper industry, leading to decreased production and even closure of certain mines. Also, considering the scale of these operations, large investments are needed to purchase capital goods, especially imported. Areas needing attention are implementation: Government policy on implementation is extremely slow; sanctioning of funds takes time leading to delays; and high rates of customs duty lead to huge initial capital outflows for investing in modern equipment which sometimes acts as a deterrent. Does imported machinery, including secondhand, pose a threat to your market share? Many projects involve a mixture of indigenous and imported equipment and a judicious mix is generated to find the most cost-effective solution. Secondhand machinery, as the name itself sug
