U.S. Coal Mining Industry Facing an Uphill Battle

In regards to coal mining, U.S. mining industry news has made for fairly grim reading lately. Although coal mining is far from a dying industry, there's no denying that many coal mines are facing an uphill battle in the days to come.

First, Reuters reports that the industry will soon face what's known as a "succession crisis," as a huge crop of seasoned veterans in leadership face retirement.

Several mining CEOs have reached or are nearing retirement age and industry executives, recruiters and analysts worry that there is not enough people with the right skills and experience to replace the old guard. (Reuters)

On top of this projected management crisis, the coal mining industry also must grapple with sliding commodity prices and the accompanying job cuts. According to the U.S. Bureau of Labor Statistics, a total of 5,000 mining jobs were lost in July of 2015 alone, bringing the total loss of jobs in the mining industry to 78,000.

With such grim statistics staring us in the face, it's no wonder that Mining.com dubbed one week of July as "the worst week in years" for the U.S. coal mining industry, citing further stresses. These fresh challenges include competition from inexpensive natural gas, tougher environmental regulations, and a global coal glut that has decidedly brought down prices.

While it's no secret that America's coal mining sector is facing challenges, these challenges are by no means insurmountable. We look forward to seeing how the industry grows, evolves, and adapts to meet changes in the days ahead.

Remember that we carry a full stock of OTR tires for all of your mining needs, whether you are in the United States or abroad. Please feel free to contact us for the best deals.

Image credit: "Strip coal mining" by Stephen Codrington. Licensed under CC BY 2.5 via Commons

The post U.S. Coal Mining Industry Facing an Uphill Battle appeared first on BuyBigTires.com.