Mining is the process of extracting minerals, metals and other valuable materials from the earth crust. Metals and minerals extracted from raw materials are widely used in industries such as agriculture, manufacturing, transportation, utilities, communication, and construction. Sand and gravel, coal and stone are non-metallic products of the mining industry.
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The market is valued at nearly $2 trillion in 2017 due to the emerging markets growth and reduction in free trade.
In the report, the global mining market is divided into six segments. Around half of the market is occupied by the coal, lignite and anthracite mining. Remaining one-fifth is occupied by the metal ore mining and the remaining 40% is occupied by the other four segments namely, support activities for mining copper, nickel, lead, zinc mining, stone mining and quarrying and general mineral mining.
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China was the largest country in the mining market in 2017, accounting for around two-fifth of the market share. This can be attributed to the country’s economic power, abundant mineral resources, increased energy demand, and high government and private expenditure in the manufacturing industry. The USA and India followed China as the next largest countries in the market.
The mining market is fragmented with a number of large and small mining organizations. The top five competitors in the market made up 6% of the total market share in 2017. BHP Billiton Ltd was the largest competitor of the market, followed by Glencore plc, Vale SA, Rio Tinto Group and CRH Plc. BHP Billiton is a dual listed company (DLC) comprising BHP Billiton Limited and BHP Billiton Plc. BHP Billiton was created through the DLC merger of BHP Limited (now BHP Billiton Limited) and Billiton Plc (now BHP Billiton Plc), which was concluded on 29 June 2001. The headquarters of combined BHP Billiton Group and BHP Billiton Limited are located in Melbourne, Australia. BHP Billiton Plc is headquartered in London, UK.
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