Few people consider the mining industry to be one where the entrepreneurs of tomorrow can set up a lucrative business. We all know that there is money to get made in mining. But it’s also one of the riskiest enterprises one could ever get involved with!
There is the vast cost of setting up a mining operation. You also have to hire trained staff willing to risk their lives working for you! And if you don’t choose the right place to mine, all your efforts could be in vain.
Source: Flickr
I’ll let you in on a little secret. Making money in the mining industry doesn’t have to be expensive or dangerous! Why? Because there are plenty of industry sectors where you can run a profitable enterprise. Here are a few lucrative opportunities you need to know about:
Consulting
When companies want to set up new mining operations around the world, they do so by seeking professional advice. If you have a proven track record in the industry, you could set up a company offering consultancy services to such firms.
The advice and support you can provide will depend on your industry specialism. Some consultancy firms offer expert help in many critical areas as they usually have teams of people working for them.
Big companies pay a lot of money for expert technical assistance and advice. And you can be the one that helps such firms out!
Transportation
When people decide they want to start mining, the first task on their checklist is to get some important heavy machinery on site. To do that, they need to enlist the services of a transportation or haulage company.
You could provide such services if you have the right vehicles for the job! TV programs like Megatruckers give an insight into this fascinating and lucrative world!
Machine sales
If haulage is not your thing, you could always be the guy (or gal) that sells or leases out heavy machinery to mining companies.
Miners use all kinds of different tools and equipment. For instance, conveyor chain systems transport raw materials from mines to processing plants. Diesel generators provide electricity at remote locations. Earthmoving equipment helps to clear paths so that workers can mine at new locations.
Refining
Let’s say that a company is involved with the petrochemical industry. How do they convert the crude oil they extract into a usable product? That is where refining companies come in. Many petroleum firms find it more cost-effective to outsource refining to third parties organizations.
Risk assessment
These days health and safety is of paramount importance to both companies and governments around the world. Before someone is permitted to mine, a risk assessment of the area must get carried out.
Risk assessors analyze risks like earthquakes and landslides. And anything where mining in the area in the past has caused problems. The safety of mine workers is important to mining companies. That’s why they hire experts to do proper risk assessments before any work begins on the site or others nearby.