“Data Bridge Market
Research” has recently added a concise research on the Iron Ore Mining
Market to depict valuable insights related to significant market trends driving
the industry. The report features analysis based on key opportunities and
challenges confronted by market leaders while highlighting their competitive
setting and corporate strategies for the estimated timeline. Some are the key
& emerging players that are part of coverage and have being profiled are Rio Tinto; BHP; Vale; Anglo American; Fortescue Metals Group; Indiana
Resources; Shree Minerals Ltd.; Mount Gibson Iron; ArcelorMittal; Great Panther
Mining Limited; Atlas Iron Pty Ltd; Iron Ore Company of Canada; KIOCL Limited
Global iron ore mining market is
expected to grow with a steady CAGR in the forecast period of 2019-2026. The
report contains data from the base year of 2018 and the historic year of 2017.
This rise in market value can be attributed to the rising levels of development
activities from the Asia-Pacific region resulting in enhanced
industrialization.
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Market Definition:
Global Iron Ore Mining Market
Iron ore mining is the
process of extraction of iron mineral from the various mineral deposits and
rocks present in mines. The rocks are extracted and undergo the smelting
process so that the melted iron can be poured into molds so that various
iron-based products are formed
Market Drivers:
·
High levels or urbanization and
industrialization activities globally resulting in requirement of iron for
infrastructure engineering activities; this factor is expected to positively
drive the growth of the market
·
Increasing support from the government in the
form of favourable policies and compliances for undertaking or adoption of
mining activities; this factor is expected to drive the market growth
Market Restraints:
·
Requirement of significant amounts of capital
for mining activities are factors restraining the growth of the market
·
Complications and issues towards the environment
associated with mining and specifically iron ore mining are factors restraining
the growth of the market
Key Developments in
the Market:
·
In August 2018, MINERAL RESOURCES LIMITED
announced that they had completed the acquisition of Cleveland-Cliffs Inc.’s
Koolyanobbing iron ore business division along with the assets utilized in that
mine. This will enable export and transportation of iron ore from the region
and provide significant economic benefits to the region.
·
In July 2017, JSW announced that they had
purchased a number of iron ore mines in India. The mines located at different
regions of Karnataka are expected to increase the annual capacity of iron ore
extraction by 4.7 metric tonnes annually. All of the mines are expected to be
deemed operational by the end of the fiscal year 2017-18.
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Top
Manufacturers Covered in the Report:
Few of the major competitors currently working in iron ore
mining market are Rio Tinto; BHP; Vale; Anglo American; Fortescue Metals Group;
Indiana Resources; Shree Minerals Ltd.; Mount Gibson Iron; ArcelorMittal; Great
Panther Mining Limited; Atlas Iron Pty Ltd; Iron Ore Company of Canada; KIOCL
Limited; Cleveland-Cliffs Inc.; GFG Alliance; Eurasian Resources Group; JSW;
MINERAL RESOURCES LIMITED; Exxaro; FERREXPO; Ferrous Recursos Limitada;
Glencore; IRC Company Limited; LKAB Koncernkontor; Severstal and Sydvaranger.
Competitive Analysis:
Global Iron Ore Mining Market
Global iron ore mining market is highly fragmented and the
major players have used various strategies such as new product launches,
expansions, agreements, joint ventures, partnerships, acquisitions, and others
to increase their footprints in this market. The report includes market shares
of iron ore mining market for global, Europe, North America, Asia-Pacific,
South America and Middle East & Africa.
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