Coal, Copper, Iron and Precious Metals Lead $890 Billion Global Mining Project Development

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Researched by Industrial Info Resources (Sugar Land)--With more than 2,100 active mining projects totaling $890 billion, the mining sector is experiencing a period of growth. Mining companies, flush with cash from high commodity prices and driven by demand from developing nations, are investing in both organic growth and mergers and acquisitions to gain market share. Equipment and services providers to the mining sector are experiencing growing order books and backlogs, and are also looking to the same kinds of growth to increase market share.

Click on the image at right to view a chart showing the breakdown of global mining project activity by ore type.

Looking at the distribution of mining projects by mine type reveals some interesting trends in the sector. Iron ore mining projects account for about 25% of the value of projects under development. There are 278 scheduled iron ore mine projects worldwide, representing about $225 billion. Australia leads the way for iron ore mining projects, with more than 100 projects, representing a combined $80 billion. Second is Brazil with 47 projects representing $49 billion. Canada, China, Guinea, India, Peru and the U.S. are also developing a significant number of iron ore mining projects. Projects include grassroot iron ore (hematite, magnetite and taconite) mines, pellet plant construction, rail, port, conveyors, desalination plants and slurry pipelines.

With 292 projects totaling $169 billion, copper ore mining represents the second-largest ore type after iron ore for mining project development worldwide. The Americas dominate mining for the red metal, especially South America, where the world's No. 1 copper producer, Chile, has 53 active copper mining projects totaling $46 billion. Peru is second with 50 projects totaling $38 billion, followed by the U.S., Canada, Australia, Argentina and Papua New Guinea.

After iron and copper ore, coal is king with 449 projects totaling $141 billion. Development of coal mines is being driven by demand for both metallurgical and thermal coal for the steel and power generation sectors. Australia, Canada, China, South Africa and the U.S. are the leading countries for coal mining development.

Precious metals mining, including gold, silver and platinum group metals, represent the fourth largest mining sector by value with $141 billion, but by project count with 494 it represents the largest mining sector. In order from largest value to smallest value, Canada, the U.S., South Africa, Chile and Mexico lead the way in precious metal project development.

In order to better understand the mining sector, Industrial Info has released the Mining Tracker. For details, click on the Mining Tracker link above or contact Industrial Info's Member Center at 1-800-762-3361.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.