Metal Ore Mining
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).
Australia, Brazil, China, India, and Russia are the top five largest iron ore producing countries in 2020, according to NS Energy. The world's most exploited commodities are iron ore, coal, potash, and copper, according to Statista. China is the world's leading country in the mine production of gold, and is becoming the top mining country, especially for rare earths, producing about 60% of the global production in 2020.
The US metal ore mining industry includes about 270 establishments with combined annual revenue of about $30 billion, as well as 200 establishments (single-location companies and units of multi-location companies) that provide related support services and generate annual revenue of about $1 billion.
The industry includes companies that mine and process gold, silver, copper, nickel, lead, zinc, iron ore, uranium, and other metals.
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.
Imports -- about 10% of the US metal ore market -- come mainly from Brazil, Australia, and Peru. Exports, which go primarily to Mexico, Canada, and China, account for about 20% of US production.
Products, Operations & Technology
Major US products include gold ore (about 40% of industry revenue), copper and nickel ore (30%), and iron ore (15%). Iron ore is used to make steel. Precious
Sales & Marketing
Finance & Regulation
Regional & International Issues
Also includes the following chapters:
Quarterly Industry Update
Trends and Opportunities
Call Preparation Questions
Glossary of Acronyms