Just like graphite and sand mining companies, primary industries refer to the extraction of natural resources on the earth. Read this blog to gain a complete idea.
The primary purpose of a primary firm is to convert raw products into consumable items. It can be the mining of any natural resource like dolomite, aggregate, agriculture or even fisheries. In fact, graphite mining companies are a classic example of primary firms.
What Are Primary Industries All About?
Primary industries, as already said, are the ones producing raw materials for secondary industries. It mainly concerns the elimination and collection of resources that are natural. The best part about these resources is that companies can further process them to create finished goods. Primary sectors account for a large chunk of developing countries as their economy depends largely on them.
Comparatively, the economy of developed countries is not very much reliant on primary industries. People working in these sectors are often hard-working people. Moreover, it is a proven fact that as a country begins to develop, its dependency on primary sectors starts reducing. Then, the centre of attraction becomes the secondary as well as the tertiary industries.
Countries like India which is a developing nation depend on these industries immensely. Because 88% of employment comes from here, whereas 10% comes from the tertiary sector and 2% from the secondary industries. A classic example of a developed nation is the US where employment in the Primary sector is only 3 %. On the other hand, the employment in the quaternary sector is 2 % and that of the secondary sector is 25%.
Mining As A Common Primary Industry
- Mining deals in the extraction of raw materials such as graphite, clay, aggregate, metals and minerals from the earth. The secondary industry depends largely on raw materials from mining for manufacturing. Further, it also helps in the production of tons of important everyday products.
- It cannot be denied that mining as a primary sector is a prominent source of earnings owing to its potential growth. It often regulates the potential of resource acquisition and economic growth of these countries. Although, this primary industry is very less-diverse and has a small industrial setting.
- Lithium finds its application in batteries and steel in buildings. Additionally, we can find traces of oil and gas in fuels and lubricants in vehicles. The use of oil for electricity, plastics and chemicals is also worth mentioning. In a broader concept, mining also involves non-renewable resources such as natural gas, water and even petroleum.
Conclusion
You can now fulfill your quest for the primary objects with Abhinna Investments. The leading name among top aggregate mining companies never fails to amaze its huge client base. So, what are you waiting for? Contact the best dolomite mining companies today.