It is likely that either the forestry or mining industry will become obsolete explain?

Answer 1

No, neither will become obsolete. As the population grows, more stuff needs made to clothe, feed, shelter and entertain. If you can't grow it, then it has to be mined. So until we can make recycling technology 100% efficient (thermodynamically impossible) then we will need to get more material from the earth, or grow it.

With forestry would you prefer a house of wood or steel? How about your bed, carpet. As more 'green' industries come out, the more they have to rely on forestry products as forestry is actually more sustainable.

Answer 2

Not likely. As the population grows, we use more and more resources, most of the metals and minerals are still renewable and recyclable. It is almost impossible to run out of most of them, and even if we do, we can process/recycle the old products to produce new ones.

You can see the short overview of the mining industry today, and you can see that despite being one of the oldest and least eco-friendly ones, it still grows at a fast pace. You can check some market overviews on gethrough .com