“German mining machinery companies have high hopes for Trump”
The German machinery industry is hoping that a revival of fossil-fuel-based industry in the United States, as promised by President-elect Donald Trump, will give makers of mining equipment a boost, writes Thomas Schmelzer in Handelsblatt. The industry has suffered in the last three years from slumping investment in the global mining business and a looming coal exit in Germany, according to Schmelzer. This year looks different, however, as raw materials prices are rising and with this, demand for industrial metals, writes Schmelzer, citing the head of the German Mechanical Engineering Association’s mining division, Michael Schulte Strathaus. Trump has said he wants to save the US coal industry, writes Schmelzer. “If he is able to pull it off, that will benefit us,” he quotes Schulte Strathaus as saying.
Read the article in German here.