Metal Ore Mining

Metal Ore Mining

Brief Excerpt from Industry Overview Chapter:

Companies in this industry develop mine sites, mine and quarry metallic minerals and provide related support services, and prepare minerals for sale. Major companies include Freeport-McMoRan and Newmont Mining (both based in the US), as well as Anglo American (UK), BHP Billiton (Australia), China Molybdenum (China), Glencore (Switzerland), Grupo Mexico (Mexico), Nornickel (Russia), Rio Tinto (UK), and Vale (Brazil).

COMPETITIVE LANDSCAPE

Demand is driven by industrial production and economic growth, both domestic and foreign. Individual company profitability depends on volume and operating efficiency. Large companies can afford to discover and develop new deposits and increase reserves. Small companies typically own just one mine, limit exploration to that one property, and operate it as efficiently as possible.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major US products include gold ore (about 40% of industry revenue), copper and nickel ore (35%), iron ore (10%), lead and zinc ore (10%), and silver ore (5%). Iron ore is used to make steel. Precious metals such as gold and silver are used in jewelry and electronics; copper is commonly used in construction.