Metal Ore Mining Industry Profile

Companies in this industry develop mine sites, mine and quarry metallic minerals and provide related support services, and prepare minerals for sale. Major companies include Freeport-McMoRan and Newmont Mining (both based in the US), as well as Anglo American (UK), BHP Billiton (Australia), China Molybdenum (China), Glencore (Switzerland), Grupo Mexico (Mexico), Nornickel (Russia), Rio Tinto (UK), and Vale (Brazil).

Australia, Brazil, China, India, and Russia are the top five largest iron ore producing countries in 2024, according to US Geological Survey. The world's leading minerals by production value are gold, coal, iron ore concentrates, potash, and copper. China is the world's leading country in the mine production of gold, producing 370 metric tons in 2023, according to Statista.

The US metal ore mining industry includes about 270 establishments with combined annual revenue of about $30 billion, as well as 200 establishments (single-location companies and units of multi-location companies) that provide related support services and generate annual revenue of about $1 billion.

The industry includes companies that mine and process gold, silver, copper, nickel, lead, zinc, iron ore, uranium, and other metals.

COMPETITIVE LANDSCAPE

Demand is driven by industrial production and economic growth, both domestic and foreign. Individual company profitability depends on volume and operating efficiency. 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 ...