|Last Quarterly Update:||2/20/2017|
|SIC Codes:||10 , 12 , 14|
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Companies in this industry develop mine sites; mine and quarry coal, metal ores, and nonmetallic minerals; and prepare extracted materials. Major companies include US-based Alpha Natural Resources, Freeport-McMoRan, Peabody Energy, and Vulcan Materials; BHP Billiton and Rio Tinto (both dually headquartered in Australia and the UK); ShenHua Group (China); Vale (Brazil); and Glencore (Switzerland).
Worldwide, China dominates coal, metals, and nonmetallic minerals production, although Chile and the Philippines lead in global production of copper and nickel, respectively. Mineral and metal production and imports are expected to continue expanding in China, India, and Brazil as their growing economies demand more energy and construction materials. China alone is expected to account for about 70 percent of the increase in world coal production through 2035, according to the Energy Information Administration.
The US mining industry includes about 6,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $84 billion.
Demand for coal comes mainly from generators of electricity. Metal ore demand is driven by industrial production. Nonmetallic mineral demand is driven by construction spending and agricultural spending on fertilizers. Large companies can afford to discover and develop new deposits and increase reserves. Small companies typically own just one mine, limit exploration to that one property, and operate it as efficiently as possible.
The US imports minerals and ores primarily from Canada, Australia, Colombia, and Brazil. Imports account for about ...
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