Table of Contents

Base Metal Mining Industry Analysis

base metal mining industry was estimated at approximately USD 485.98 billion in 2022.

Base Metal Mining Industry | Forecast 2030

Grand View Research’s base metal mining sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

The economic value generated by the base metal mining industry was estimated at approximately USD 485.98 billion in 2022. This economic output is an amalgamation of businesses that are involved in base metal mining, distribution & supply, and application of base metal mining.


Access the Global Base Metal Mining Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies


The increasing production of electric vehicles (EVs) is positively impacting the base metal mining industry. EV production widely consumes metals and minerals such as copper, zinc, aluminum, and nickel. For instance, copper is used in many components such as electric motors, batteries, wiring, and charging stations. Similarly, metals such as lead, zinc, lithium, and nickel are widely used in the battery technologies of EVs. Zinc is also a key material in the automotive sector. As per the University of Waterloo, around 7.7 kg of zinc is used per automobile for the prevention of rust.

Thus, the rising penetration of EVs is expected to propel the demand for base metals in the said forecast period. For instance, in March 2022, Suzuki Motor Corporation decided to invest USD 1,320.2 million in its manufacturing plant in Gujarat, India. It is also planning to produce 125,000 electric vehicles by 2025. A similar trend is seen across the world.

However, the high volume of solid waste generated during various stages of mining is one of the main concerns associated with the mining sector. The stages include mine development, extraction, beneficiation, storage, transportation, and reclamation. The removal of waste material to access the ore creates a major problem during storage and reclamation.

The stripping ratio for the mining of metal ores ranges from 2:1 to 8:1, depending on local conditions. The stripping ratio refers to the volume of waste material to be handled to extract some quantity of ore. If the processing is done on-site, mine dumps also need to be managed. Significant quantities of mine dumps are generated where there are ores with low metal content.


Order your copy of Free Sample of “Base Metal Mining Industry Data Book – Aluminum Production, Copper Mining, Zinc Mining, Lead Mining, Nickel Mining, Tin Mining and Tungsten Mining Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research


Nickel Mining Market Report Highlights

  • Based on end-use, the stainless steel segment is expected to register a CAGR of 6.5%, in terms of revenue, over the forecast period. The rising demand for stainless steel in various industries such as oil & gas and construction is driving the segment growth
  • The non-ferrous alloys segment is projected to have a CAGR of 6.8% in terms of revenue, over the forecast period. The growth of the segment is attributed to the increasing demand for non-ferrous alloys from industries operating at high temperatures and pressures such as aerospace and defense, and oil and gas.
  • Based on region, Asia Pacific held the largest market share of about 58.0% in 2022 of the global market. The region’s dominance is attributed to the presence of large reserves in countries like China, Indonesia, the Philippines, and Australia
  • The nickel mining industry is facing competition from the recycling sector. For instance, according to Nickel Institutes, around 68% of nickel in consumer products is recycled, starting a new cycle.


Competitive Insights

The base metal mining market is fragmented with the presence of various key players such as BHP, Norilsk Nickel, Vale, GRUPO MÉXICO, and Glencore in the market. The industry also comprises a few medium and small players operating in different parts of the country. To remain competitive, mining companies are entering into long-term supply contracts with end users. Also, the companies use derivative contracts to protect them from market volatility. These fluctuations expose the companies to the risk of opportunity loss and mark-to-market fair value adjustments. These contracts could include forward sales, futures contracts, call options, and other derivative instruments.

Also, companies are following various acquisition and merger strategies to stay ahead of their competitors. For instance, in March 2023, Rio Tinto commenced underground production of copper from the Oyu Tolgoi mine in the Gobi Desert in Mongolia. The mine is anticipated to become the fourth-largest copper mine in the world by 2030.

Article Tags
Article Category

Leave a Reply