PUBLISHER: The Business Research Company | PRODUCT CODE: 1436497
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436497
Mining waste management involves the handling of substantial quantities of initial soil and rock removed during the extraction of mineral deposits. The mining industry is tasked with managing the waste generated throughout mineral processing, beneficiation, and extraction processes.
Mining waste management primarily comprises two main categories such as surface and underground methods. Surface mining involves the extraction of minerals from the Earth's upper layers, encompassing resources such as coal, iron, gold, aluminum, copper, nickel, and various other minerals and metals. This process generates distinct types of waste, including overburden or waste rock, tailings, and mine water.
The mining waste management market research report is one of a series of new reports from The Business Research Company that provides mining waste management market statistics, including mining waste management industry global market size, regional shares, competitors with a mining waste management market share, detailed mining waste management market segments, market trends and opportunities, and any further data you may need to thrive in the mining waste management industry. This mining waste management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mining waste management market size has grown strongly in recent years. It will grow from $197.49 billion in 2023 to $210.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. Historical growth can be linked to the mining industry's expansion, adherence to regulations, heightened environmental consciousness, meeting community and stakeholder expectations, and seizing opportunities for resource recovery.
The mining waste management market size is expected to see strong growth in the next few years. It will grow to $272.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Forecasted growth is fueled by strict environmental standards, heightened public awareness, embracing circular economy practices, and a focus on corporate social responsibility (CSR). Major trends include sustainable waste disposal, remote monitoring for waste sites, community engagement, mine rehabilitation planning, and AI integration for waste optimization.
The rising demand for metals and minerals across diverse industries is anticipated to fuel the expansion of the mining waste management market. Metals and minerals, naturally occurring inorganic substances within the Earth's crust, serve as crucial resources. This growing demand drives the mining waste management sector by emphasizing the importance of efficient waste handling at every phase of mining, from exploration and development to extraction, transportation, and product treatment. An example illustrating this trend comes from the National Mineral Development Corporation Limited (NMDC), a government-owned Indian mineral producer. They reported a substantial increase in iron ore production, reaching 42.15 million tons (MT) by the end of the fiscal year on March 31, 2022, marking a notable 23% year-over-year growth. Hence, the heightened need for metals and minerals across industries acts as a significant driver propelling the expansion of the mining waste management market.
The anticipated increase in awareness surrounding environmental safety is poised to drive the expansion of the mining waste management market in the foreseeable future. Environmental safety, also referred to as environmental health and safety (EHS), pertains to safeguarding the environment and ensuring health and safety in various settings, including industrial facilities, workplaces, and laboratories. Mining waste management plays a pivotal role in environmental safety by mitigating exposure to pollutants, thus safeguarding human health against waterborne diseases, respiratory issues, and other health ailments. For example, as per the European Commission's report in July 2023, investments in environmental protection saw a notable 24% increase from 2018 to 2022. Specifically, environmental protection investments accounted for 6% and 9% of total investments in 2021 and 2022, respectively, marking an uptick compared to previous percentages of 9% and 12%. This escalating consciousness concerning environmental safety stands as a primary catalyst driving the growth of the mining waste management market.
Major players within the mining waste management sector are prioritizing strategic partnerships to deliver dependable services to their clientele. These partnerships, involving collaborations between two or more entities, serve mutual objectives. An example of this approach occurred in March 2023 when Talon Metals Corp., a US-based enterprise specializing in Copper ores, joined forces with EnviCore Inc., a Canadian technology firm known for its innovative and eco-friendly by-product treatment solutions. Leveraging EnviCore's technology, the collaboration between Talon Metals and EnviCore entails conducting small-scale studies to explore the potential conversion of tailings derived from processing nickel and copper bearing ores into materials applicable to infrastructure and construction projects. This initiative aims to curtail or potentially eradicate waste production.
Prominent entities within the mining waste management sector are actively engaged in formulating strategies aimed at pioneering inventive methodologies for tailings management. A strategic initiative, characterized by a proactive and encompassing plan, is crafted to realize specific strategic objectives or fulfill aspects of an organization's long-term vision. An exemplar of such efforts unfolded in May 2023 when Newmont Corporation, a premier global gold mining entity, inaugurated the GeoStable Tailings Consortium (GSTC). This consortium is dedicated to researching innovative methods that involve blending various tailings and waste rock combinations to create "geo-stable" landforms. These formations are engineered to exhibit greater resilience and stability compared to conventional tailings deposition methods while potentially consuming lesser process water.
In September 2022, SUEZ, a French utilities company, in collaboration with African Infrastructure Investment Managers (AIIM) and Royal Bafokeng Holdings (RBH), successfully acquired EnviroServ Proprietary Holdings Limited and its subsidiaries, with the financial details remaining undisclosed. This strategic acquisition is poised to enhance SUEZ's presence in the African continent and further solidify its standing as a global leader in industrial and municipal waste treatment. EnviroServ, a waste management company based in South Africa, operates a specialized Tailings team that manages waste streams within the mining sector as an integral part of the company's comprehensive waste management solutions.
Major companies operating in the mining waste management market report are Veolia Environnement SA, Teck Resources Limited, Metsana Group, Amec Foster Wheeler PLC, Stantec Inc., Daiseki Co. Ltd., Tetra Tech Inc., Ramboll Group A/S, Cleanway Environmental Services, Boart Longyear Corporation, Golder Associates Corporation, Ausenco Ltd., Hatch Ltd., Averda, Enviroserv Waste Management (Pty) Ltd., Klohn Crippen Berger Ltd., Barr Engineering Company, Enviropacific, Aevitas Co., Interwaste Holdings Ltd., Knight Piesold, Toxfree Solutions Ltd., Jones & Wagener, ATC Williams Pty. Ltd., Earth Systems, American Waste Management Services Inc., SRK Consulting (Australasia) Pty Ltd., Global Mining Solutions, Zeal Environmental Technologies Limited, Beavers Engineering Ltd.
Asia-Pacific was the largest region in the mining waste management market in 2023. The regions covered in the mining waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mining waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mining waste management market includes revenues earned by entities by providing services such as landfill, incineration, waste compaction, composting, and vermicomposting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mining Waste Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mining waste management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mining waste management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mining waste management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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