The mining industry is involved with extracting coal minerals and precious metals from the earth before a mine is created explorers may try to determine how much of a particular item is located in the area which is known as prospecting they may then determine whether to extract material from the surface underground or abandon their efforts because it may be unprofitable to continue developers can then plan how to create the mine and oversee workers at the facility when it . Introduction to the mining industry types of mining industry assets types of assets common types of assets include current non current physical mining industry reserves and resources a mining companys main assets are its reserves and resources which are the key terms to know key . The mining industry is like any other manufacturing industry in that it utilizes sophisticated and productive machinery along with digitization so that it can prosper by increasing productivity while decreasing costs development in mining technology is ongoing throughout the world notwithstanding india operational monitoring and control systems have enhanced the productivity safety and efficiency of mining in addition the mining industry is now using heavier and larger machinery as . The circular economy set to transform the mining industry says panel at the global mining symposium apples daisy robot which can disassemble 200 devices per hour removes and sorts components to facilitate recycling credit apple by carl a williams february 25 2021 in the future mining companies will need to develop new business models that account for the increasing re use and