Vancouver, British Columbia, January 25, 2021 (GLOBE NEWSWIRE) – The global green mining market size was $ 9.05 billion in 2019 and is expected to reach $ 15.90 billion by 2027, at a 7.2% CAGR over the forecast period, according to current analysis from Emergen Research. The growing emphasis on safeguarding the environment and promoting sustainable development is driving the growth of the market.
Terms such as green technology, sustainable technology and renewable energy are often used synonymously with each other. Green mining technologies are increasingly accepted by mining organizations around the world. Mining organizations began to apply the technique of green mining because they realized that they can generate profits by serving the natural environment and people for the common good of the ecosystem. Green mining technologies and practices provide superior performance in terms of efficient use of energy, reduction of greenhouse gas emissions and decrease in chemical use.
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The global green mining market is expected to remain in a very competitive and quite fragmented landscape for the near future, consisting of several small start-ups, mid-sized companies and large conglomerates. During the forecast period, the growing demand for technological advancements and greater diversification of green mining techniques would gain in importance.
Other key findings from the report suggest:
- In November 2020, TATA Steel launched a new coated product named “Galvanova” to meet the evolving and unmet requirements of micro, small and medium enterprises (MSMEs)
- According to the Coalition for Eco-Efficient Comminution, fragmentation (the process of crushing and grinding ore) is the most energy-intensive step in the mining process. It represents 54% of the total energy consumption of the mine, which represents approximately 11% of production costs.
- The high wall mining method is a complete process of surface mining technique. This surface mining technique is used by a skilled person sitting in a cabin on the surface using a camera to control the mining machine.
- Europe holds a significant share of the global green mining market. With the rapid increase in investment in surface mining methods, surface mining is playing a central role in the growth of green mining market in the region. Sustainability projects implemented by organizations in UK, Germany, France, Russia, Poland and other European countries are boosting the green mining market in Europe.
- The main players in the market are BHP Billiton, TATA Steel, Anglo American, Glencore, Dundee Precious, Rio Tinto, Freeport-McMoRan, Shandong Gold Mining Co. Ltd, Jiangxi Copper Corporation and Doosan Infracore.
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For the purpose of this report, Emergen Research has segmented the global green mining market on the basis of mining technique, technology and region as follows:
- Mining Technique Outlook $ 1
- Surface mining technique
- Underground mining technique
- Technology Perspectives $ 1 $ 1
- Water reduction
- Power reduction
- Reduction of emissions
- Reduced fuel and maintenance
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- Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Rest of LATAM
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of the MEA
- North America
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