Major players in the green mining market are BHP Billiton, TATA Steel, Anglo American, Glencore, Dundee Precious, Rio Tinto, Freeport-McMoRan, Shandong Gold Mining Co. Ltd., Jiangxi Copper Corporation, Doosan Infracore, Sany Heavy Industry Co., Ltd., Vale S.A., Saudi Arabian Mining Corporation, and Ma’aden.
The global green mining market grew from $8.94 billion in 2022 to $9.63 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The green mining market is expected to grow to $13.65 billion in 2027 at a CAGR of 9.1%.
The green mining market consist of sales of solar panels, wind power and others that utilizes minerals and metals which helps a transition to low-carbon technologies.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Green mining is using technologies to decline carbon emissions in operations and mitigate adverse environmental impacts in mining.
Asia-Pacific was the largest region in the green mining market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the green mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of green mining are surface and underground.Surface green mining is a method of extracting minerals near the surface of the Earth.
There are two principal types of surface mining, including strip mining and open-pit mining.These green mining services are of various technology types, such as power reduction, emission reduction, water reduction, and others.
Different applications, such as mining and exploration geology, use green mining.
Increasing demand for surface mining techniques is driving the growth of the green mining market.For several reasons, surface mining is often preferred over underground mining by mining companies.
The surface mining technique is less expensive and also a safe method of mining.Surface mining comprises five sub-types: strip mining, open-pit mining, dredging, high-wall mining, and mountaintop removal.
For instance, in 2022, according to Intech Open, Open pit mining had higher productivity, lower productions costs and more safe and hygienic environment which made it more preferable over underground mining. Therefore, the increasing demand for surface mining techniques drives the green mining market rapidly.
Technological advancement is a key trend gaining popularity in the green mining market.New product brands are the pillars of further development and are not only eco-friendly but also eco-effective.
It will create a green, healthy, and productive ecosystem of stakeholders that produces eco-friendly products to meet customer needs.For instance, in 2020, Tata Steel launched a new product, GalvaRoS-GP.
Regular Spangle Product was designed to meet the needs of customers for galvanised steel sheets and coils that are eco-friendly, have superior corrosion resistance, are available in custom sizes, and provide a better return on investment.GalvaRoS is 100% RoHS compliant and offers product authenticity.
This customised product gives the customers a better offer and ROI while strictly adhering to the BIS standards.
In November 2021, Evolution Mining, an Australian gold mining company, acquired Ernest Henry Mining from Glencore for A$1 billion, comprising A$800 million on the closing of the transaction and a further A$200 million payable 12 months after the transaction closes.With this acquisition, Evolution will assume full ownership and operational control of the copper-gold mine and will enter into a copper concentrate offtake agreement and a separate ore tolling agreement with Glencore.
Glencore PLC. is an Anglo-Swiss multinational commodity trading and mining company.
The countries covered in the Green Mining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The green mining research report is one of a series of new reports that provides green mining statistics, including global market size, regional shares, competitors with green mining shares, detailed green mining segments, market trends and opportunities, and any further data you may need to thrive in the green mining industry. This green mining research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.