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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