Metal ore mining industry primarily covers mining of metallic minerals and development of mine sites. It also includes ore dressing, and other beneficiating operations such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching.
The global metal ore mining market is valued at nearly $450 billion in 2017. This is due to the expectation of greater stability in the commodity prices, and rising demand for iron ore products from developing countries such as China and India, for purposes of building, construction and manufacturing.
In this report, the global metal ore mining market is split into six segments. Gold ore mining occupied the major segment share with more than two-fifth of the market followed by the iron segment occupying slightly more than one-third of the market. The rest of the market share is attributed to remaining segments namely, all other metal ore mining, silver, uranium and vanadium.
China was the largest country in the metal ore mining market in 2017, occupying half of the market share. The country’s size and economic importance, as well as abundant mineral resources and high government and private expenditure in the manufacturing industry has resulted in high demand for metal ore products. The USA and Brazil followed China as the next largest countries in the market.
The global metal ore mining market is fragmented with a number of large and small mining organizations. The top five competitors in the market made up 14 % of the total market share in 2017. Rio Tinto Plc was the largest competitor, followed by Vale SA and BHP Billiton Ltd. Rio Tinto is an Australian-British multinational and one of the leading metals and mining corporations. The company is headquartered in London, United Kingdom and employs around 51,000 people
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