Global Base Metal Mining Market to Reach USD 629.9 Billion by 2035, Growing at 4.9% CAGR | Anglo American plc, Antofagasta plc, Aurubis AG

According to the report, the global base metal mining market is likely to grow from USD 371.8 Billion in 2025 to USD 629.9 Billion in 2035 at a highest CAGR of 4.9% during the time period. The increasing demand of metals like copper, zinc, lead, nickel, and aluminum in construction, automotive, electronic, and renewable energy sectors is the main driver in the development of the global base metal mining market. Consumption is being driven by rapid urbanization and building of infrastructure, especially in emerging economies, where base metals are still used in wiring, roofing, plumbing, batteries, and equipment.

The move to clean energy and electric vehicles is causing a rapid global shift in demand of copper and nickel, essential components of power grids, charging stations and EV batteries. Renewable power systems and electrification efforts also are expected to increase demand on copper alone by twofold by 2040 according to the International Energy Agency (IEA). Besides this, the government is investing more in sustainable mining and recycling projects that are improving long-term supply stability. The increased global trade coupled with the rise in technology in the mining industry and ore processing further reinforces efficiency gains to make the industry continue to grow steadily in the coming decade.

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Regional Analysis of Global Base Metal Mining Market

The Asia Pacific market also leads global base metal mining market by virtue of its excessive industrialization, urbanization, and manufacturing hegemony. Particularly China and India are major consumers of copper, aluminum, and zinc in construction, electronics, automobile, and renewable energy projects. The World Steel Association estimated that more than 70 percent of steel is produced in Asia, which accounts for the demand of zinc and lead in galvanization. Also, continued spending on clean energy, including Chinese leadership in EV battery production and Indian plans to build a large solar power network, continue pushing nickel and copper higher in the consumption base, and make Asia Pacific the largest base metal consumer.

Base metal mining is experiencing the quickest expansion in North America, due to its rapidly accelerating energy transition and manufacturing reshoring. The Inflation Reduction Act (2022) alone, which aimed to support nickel, copper, and aluminum, generated more than 369 billion of clean energy and EV incentives in the U.S. In addition, the emphasis of the region on the stability of mineral supply chains within the country, the minimization of importation and the development of a greater number of mining initiatives in Canada on copper and nickel will lead to the rapid development. North America is the fastest-growing market in the world with investments in infrastructure modernization in both the U.S. and Canada estimated to be worth more than 1 trillion under government programs, generating strong long-term demand in the base metals sector.

Prominent players operating in the global base metal mining market are Anglo American plc, Antofagasta plc, Aurubis AG, BHP Group, China Minmetals Corporation, China Shenhua Energy Company Limited, Codelco, First Quantum Minerals Ltd., Freeport-McMoRan, Inc., Glencore plc, Hudbay Minerals Inc, Jinchuan Group Co., Ltd., Lundin Mining Corporation, MMC Norilsk Nickel PJSC, Norilsk Nickel, Rio Tinto Group, Southern Copper Corporation, Teck Resources Limited, Valeo S.A., Zijin Mining Group Co., Ltd., and Other key Players.

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Key Driver, Restraint, and Growth Opportunity Shaping the Global Base Metal Mining Market

The global base metal mining market is the increasing pace of digitalization and rollout of 5G infrastructure, which uses heavy copper, aluminum, and nickel cables, semiconductors, and data centers. The GSMA forecasts global 5G connections of 5.9 billion in 2030, which will generate an ongoing demand of these metals.

The rise of environmental questions and land-use conflicts with mining operations, particularly in biodiversity regions are one of the essential constraints. Tightening of the permitting procedures and opposition in the community has slowed the projects, increased the cost of operation and prevented the availability of important metals in time.

A major opportunity is the activities in the rapidly expanding secondary production and metal recycling sector. As recycled copper and aluminum use up to 90% less energy when compared to primary production, businesses are utilizing the principles of the circular economy to fulfill demand in an environmentally friendly manner and enjoy the advantages of attractive government subsidies and cost-effectiveness.

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Recent Development and Strategic Overview:

In June 2025, Korea Zinc invested US $85 million to acquire a 5% stake in The Metals Company, aiming to diversify its zinc sourcing into deep-sea mining targeting cobalt, nickel, and manganese nodules. Chairman Yun B. Choi emphasized that the deal supports efforts to reduce reliance on China and secure critical minerals for battery and defense applications.

In June2025, Vedanta Group announced a major investment of ₹128,000 crore (roughly US $15.5 billion) to build a 3 MTPA aluminum smelter and integrated 4,900 MW captive power plant in Odisha, India. The project, aimed at meeting soaring domestic and export demand, reflects CEO Sunil Duggal's ambition to vertically integrate bauxite-to-aluminum supply chains and capitalize on regional infrastructure momentum.

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Key Trend: AI and Automation Transforming Mining Efficiency

The mining sector is undergoing a transformation, driven by artificial intelligence (AI), IoT, and automation. These technologies boost operational efficiency, safety, predictive maintenance, and resource discovery. Autonomous vehicles and remote monitoring reduce labor dependency and improve output. AI-enhanced exploration tools prioritize drilling targets and manage environmental impacts. Smart mines are becoming the norm.

In October 2024, Glencore began testing high-pressure, high-temperature (HPHT) drilling equipment powered by AI for deep mine operations, aiming to optimize extraction and reduce downtime.

Technological adoption is enhancing productivity and lowering operational risks across base metal operations.

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