Salt Mining Operations Bring Big Spending in North America

March 21, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Salt not only is a tasty and essential mineral, but also is used in industrial and other home applications, such as water-softening and deicing. To this end, salt mining represents the production of a key, if inexpensive, commodity throughout the world. In addition, the salt caverns left behind after the mining process are valuable reservoirs for crude oil, natural gas and, more recently, carbon dioxide and hydrogen, as the caverns provide large, impermeable storage areas. Examples of salt caverns appearing in the news in this regard come seemingly weekly as the U.S. refills its Strategic Petroleum Reserve, located in subterranean salt domes in Louisiana and Texas, following large releases of oil in 2021 and 2022. Industrial Info is tracking more than US$3 billion worth of active salt-mining projects throughout the world, including more than US$1.4 billion worth in North America. In the U.S., Louisiana leads in spending in this sector, while in Canada, the lead goes to Newfoundland, a province that dominates North American salt-mining spending.