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Surface Mining Market Projected to Witness a Double-Digit CAGR During 2014 - 2020

01-12-2018 09:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Surface Mining Market Projected to Witness a Double-Digit CAGR

Surface mining refers to the mining technique where the overlying layer of soil and rock is removed, followed by the recovery or excavation of the underlying minerals. This method of mining provides considerably better recovery, safety, flexibility, environmental conditions and grade control as compared to other mining methods such as underground mining. The technique of surface mining gained momentum in the 16th century and has been widely prevalent at a global level, especially in North America.

Factors such as lower injury rates, better recovery, flexibility and grade control serve as drivers for the global surface mining industry. However, from an environmental perspective, surface mining tends to have an extensive and more prominent impact on the surrounding environment as compared to underground mining. This is a disadvantage for the global surface mining industry. Hence, to counter this environmental impact associated with the surface mining operations, a safety zone needs to be placed around the mining area. Another disadvantage associated with the global surface mining industry is the relatively higher transport cost involved during the mining operation. For instance, the transportation cost of rock in open pit mining method accounts for about 50% of the total operating cost. Supporting regulations for surface mining such as the Surface Mining Control and Reclamation Act, 1977 in the US, and proper economic planning alongwith the establishment of safety zone near the mine surface have been introduced in recent times. These developments, the vast horizontal and low lying reserves and the surging demand of iron-ore, diamond, chromium and coal, will act as opportunistic factors for the global surface mining market.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-61

Market segmentation of surface mining can be done on the basis of mining methods, the type of mineral deposits and regions. On the basis of mining methods, the global surface mining can be categorised into 3 groups: strip mining, terrace mining and open-pit mining. Among these, strip mining is applied where both the surface of the ground and the ore body are relatively horizontal with a minimal depth under the surface. An example of strip mining is the coal mining operation at Mpumalanga. Terrace mining is opted for where the overlying layer is relatively thicker or the ore incline is too steep. Terrace mining is a multi-step method in which the entire mine moves over the ore reserve from one end to another. This type of mining is prevalent in Germany-based lignite mines, and in some of the coal mines in the UK and South Africa. Open-pit mining refers to the traditional cone-shaped excavation with a typical vein structure, and steeply dipping and stratified ores. This mining method is primarily used for the excavation of metals such as Sishen iron-ore and Palabora copper ore. However, at some places open-pit mining can also be used for the excavation of other types of deposits such as diamond ore at Finsch.

On the basis of the type of mineral deposits, surface mining can be categorised as stratified and non-stratified. Stratified surface mining can be further sub-divided into horizontal and inclined. Non-stratified is divided into vertical vein, and massive stockwork or pipe.

On the basis of region, the global surface mining market includes North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa. Among these, surface mining is mostly prevalent in North America, followed by Latin America, Asia Pacific, and Middle East & Africa. Surface mining accounts for about 85% of the overall mineral exploitation in the US. The major countries using surface mining include the US, Canada, Mexico, Peru, India, China, Chile, Brazil, Indonesia, Ukraine, Angola and Australia.

Some of the prominent players of the global surface mining market include: Goldcorp, Teck, Rio Tinto, BHP Billiton, Vale S A, Freeport-McMoran, Barrick Gold and others. With the adoption of safety measures, economical techniques and support from governmental legislations, the mining companies are expected to witness further positive growth, thereby contributing to a sustainable positive future for the global surface mining market.

To view TOC of this report is available upon request @ https://www.futuremarketinsights.com/toc/rep-gb-61

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.It also contains projections usinga suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications. The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

Regional analysis includes:

North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: http://www.futuremarketinsights.com

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