Metal ore mining is a process of extraction of metals the earth’s other heavenly bodies for useful purposes. The majority of mining involves the extraction of ore deposits such as iron, copper, zinc, molybdenum, nickel, lead, platinum, cobalt, gold, and silver. Metal ore mining industry is an industry that primarily covers mining of metallic minerals and development of mine sites. It also includes ore dressing and other beneficiating operations for instance crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching.
In the metal ore mining industry, robots are used for improving the efficiency and productivity of mines and reduce operational costs that expected the growth of the metal ore mining market in the forecast period. The use of robots in the industry is improving the efficiency and productivity of mines and reduces operational costs. Robotics is considerably increasing the mining capabilities by rolling out autonomous trucks & drills, thus reducing the need for human workforce. Robots are used in various critical mining activities for instance drilling, blasting explosives in mines, and guiding & driving off-highway haul trucks operating in mines.
According to study, “Metal Ore Mining Global Market Report 2019” the key companies operating in the global metal ore mining market are BHP Billiton Ltd., Vale SA, Rio Tinto Plc., TATA STEEL, Barrick Gold Corp., Fortescue Metals Group Ltd., Nippon Steel & Sumitomo Metal Corporation (NSSMC), IMX Resources Limited, ArcelorMittal S.A., Western Desert Resources Limited.The key companies in the industry develop mine sites, mine and quarry metallic minerals and provide related support services, and formulate minerals for sale.
Based on type, metal ore mining market is segmented into zinc ore mining, iron ore mining, silver ore mining, gold ore mining, uranium-radium-vanadium ore mining, copper ore mining, nickel ore mining, lead ore mining, and other metal ore mining. Based on type of mines, market is segmented into underground mining and surface mining. In addition, based on end-use verticals, market is segmented into industry, mining and others.
The metal ore mining market is driven by growth in infrastructure development in developed and developing economies, followed by ease of extraction of ores from the mines and rise in demand in the automobiles, maritime purpose, structural engineering application, and general industrial application. However, mines produce large amounts of waste, which is a restraining factor for market. Moreover, rise in disposable income of people in emerging economies is a key opportunity for market. Furthermore, increase in rapid industrialization worldwide is a major trend for market.
Based on geography, the Asian-Pacific region dominates the global metal ore mining market owing to large mineral resources in the region. Additionally, the region makes up almost two-thirds of the global non-ferrous mineral exploration expenditure.Whereas, the North-American and European regions are anticipated to witness higher growth rate due to growth in economy over the forecast period. In upcoming years, t is predicted that future of the market will be bright caused by higher spending among construction and manufacturing industries during the forecast period.
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Ankur Gupta, Head Marketing & Communications