Mine Remediation is Big Business Throughout World

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Researched by Industrial Info Resources (Sugar Land, Texas)--As the global mining industry expands, there is also a growing focus on mine rehabilitation/remediation projects after end-of-life closure of operations at a mine site, underscoring the industry's commitment to responsible resource extraction.

Industrial Info is tracking nearly US$1.37 billion in investment across 69 mine rehabilitation projects globally. Oceania and Asia account for 85% of the significant spending of about US$1.17 billion.

According to IIR's data, the project with the largest spending is being undertaken by the Energy Resources of Australia Limited (a subsidiary of Rio Tinto (NYSE:RIO) (London, England)) with an investment of about US$371 million remediation of a uranium mine and processing plant near Jabiru, Australia, aiming to remediate soil, land and restore the biodiversity of the region by planting trees. Subscribers to Industrial Info's Metals & Minerals Project Database can click here for the full report.

Due to the growing emphasis on mine rehabilitation, there are also various regulations put in place by governments worldwide that are driving the mine rehabilitation market to mitigate environmental damage caused by mining operations. According to these regulations, mining companies must seek permits for mine operations and mine rehabilitation at the same time, as early as 10 years in advance. The shift toward "progressive" rehabilitation mandates mining companies to engage in mine operations and mine rehabilitation simultaneously, further ensuring the industry's commitment to remediating and rehabilitating mines for environmental restoration.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).