The global surface mining market size was USD 39.67 Billion in 2021 and is expected to register a revenue CAGR of 3.3% over the forecast period, according to the latest report by Reports and Data.

Rising demand for dredging, which is utilised for a variety of functions such as channel and harbour maintenance, debris removal from water to enhance water quality, and the construction of new landforms such as islands or boat ramps, is a significant element driving market revenue growth. Dredging, which may be done using a variety of dredges, is a rapid and effective means of removing silt. It allows the user to swiftly collect silt and carry it to a distant location while partially or completely submerged in water. Dredging is a critical underwater excavation stage in the construction of canal constructions such as bridges, docks, and piers.

Top Companies Operating in the Global Surface Mining Market:

BHP, Rio Tinto, Glencore, CHINA SHENHU, Vale, Freeport-McMoRan, Barrick Gold Corporation, Newmont Corporation, Anglo American, and Macmahon.

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Some Key Highlights from the Report

·                     The surface mining market has been classified as strip mining, open pit mining, mountaintop removal mining, and others based on method. In 2021, open pit mining accounted for a sizable revenue share. Open pit mining is the extraction of material from the ground's surface while leaving an open pit behind. To reach deeper depths, an open pit mine is frequently excavated using a series of benches. Furthermore, one of the primary advantages of open-pit mining is increased efficiency over deep-shaft mining technologies. Because mining takes occurs at the surface, space restrictions produced by tiny shafts and tunnels have no effect on the rate at which ore is extracted.

·                     Because of increased demand for surface mining in developed nations such as the United States and Canada, the North America market will account for the biggest revenue share in 2021. Canada is one of the top five producers of 13 major minerals and metals in the world, which is fueling this region's market revenue growth. According to the United States Energy Information Administration, 64% of coal produced in the United States in 2020 came from surface mines, often known as strip mines. These mining methods remove dirt and rock from above coal seams or deposits.

·                     Vermeer and EcoGraf cooperated on March 2, 2022, to analyse surface mining technologies at Tanzania's Epanko graphite project, which allows for the investigation of low-emission mining approaches. EcoGraf established a varied battery anode material company in order to provide high-purity graphite materials for the lithium-ion battery and advanced manufacturing sectors.

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Key Regional Markets Covered in the Report:

·         North America (U.S.A., Canada, Mexico)

·         Europe (Italy, U.K., Germany, France, Rest of Europe)

·         Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

·         Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·         Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Surface Mining Market Segmentation

Mineral Outlook (Revenue, USD Billion; 2019-2030)

• Metallic Ore
• Non-metallic Ore
• Coal Mining

Method Outlook (Revenue, USD Billion; 2019-2030)

• Strip Mining
• Open Pit Mining
• Mountaintop Removal Mining
• Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

• Metal
• Electric Power Industry
• Manufacturing
• Others

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