With the planned mergers and acquisitions, similar to GE’s strategy used for doubling oil and gas revenues, the company aims to double its mining revenues as well, reported Bloomberg.

GE Transportation chief executive officer Lorenzo Simonelli told the news agency that the company intends to reach revenues of $5bn from the mining division within a few years.

According to him, GE generated about $2 billion from its mining offerings in 2011.

GE Mining CEO Geoff Knox was further quoted by Bloomberg as saying, "We have to be targeted in buying into spaces that leverage what we already do. We want to use our current knowledge and add it to the product line we’re acquiring and make it smarter and more appealing," Knox said.