Mineral And Phosphorus Mining Market by Regional Analysis, Key Players and Forecast 2023
Mineral industry is considered to be one of the major
contributorsof national income, exports and government revenues,high
investments and high paying jobs across the globe. The market for mineralindustry
is intense, where investment opportunities flourish in resource rich
economies and people, capital and technology are highly ambulant.Mining
sector is considered to be an important building block for welfare of
human development.Metals and minerals has supported human life for
decades and will continue to playa vital role in meeting the needs of
the society.
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Metals and minerals are used by various sectors including
infrastructure and services sector for providing water, food, shelter
and energy supply for various purposes such astransportation,
manufacturing, construction, heat and light,
communication,entertainment,education, health, tourism, and other
services.Owing to the specific properties minerals and metals have a
central role in everyone’s life and in the economic development of a
nation. Some of which areaesthetic appeal, durability, high strength and
the ability to conduct heat and electricity. In minerals and mining
industry safety and health of its workers is the prime concern, where
workforce goes to the work and return back safely. Minerals industry is
highly committed to becoming free from any causalities and injuries.
In past few years substantial investments had taken place in
Africa, Asia Pacific and LatinAmerica, and these investments are likely
toescalate in the coming years. Significant growth in exploration
andmining sector especially in Africa, Asia and Latin Americahas been
spurred due to depletion mineral deposits inEurope and the US.Also,
technological advancements has led to the enhanced feasibilityof mining
in remote and lessdeveloped regions throughout the world.
Phosphorus is primarily mined as phosphate rock, a rock found all
across the globe. It requires about a ton of phosphate to produce
significant quantity of grains.However, it depends upon on the crop
type, soil conditions and fertilizing efficiency. Phosphorus is one of
the most common element found on earth. It is important for the
construction of bones, cell membranes and DNA, formation in human
beings. It is important for food production as it is used in commercial
fertilizer. It cannot be produced or destroyed as it has no external
substitute or synthetic version available in the market.
The primary purpose of phosphorus is in fertilizer for food.
Naturally, demand for phosphorus depends upon food production and by
population growth. Further, emerging economies such as India and China
have high fertilizer demand which in turn increases the demand for
phosphorus sector.
Majority of the percentage of phosphate rock reserves are located
in five countries such asSouth Africa, Jordan, China, Morocco, and the
U.S. The U.S. also imports high quantity of phosphate rocks from
Morocco. Despite the presence of phosphorus on earth, a small percentage
of it can be mined due to legal, physical and economic constraints.
Increase in fertilizer demand from agricultural sector coupled with
high mineral demand across the globe are some of the key drivers of the
minerals and phosphorus miningmarket. However, large numbers of
technical and capital intensive risks associated with exploration
activities can hinder the growth of the market. Advancements in
technologies brings new opportunities in the mining market owing to the
discoveries of large numbers of mineral reserves throughout the world.
Some of the key players in the business of minerals and phosphorus
mining market are aRio Tinto Group, Vale S.A., Shenhua Group, Anglo
American plc, Suncor Energy, Xstrata plc, Barrick Gold Corporation,
Freeport-McMoRan Inc., National Mineral Development Corporation Limited
Goldcorp Inc.,Anglo American Platinum Limited, Newmont Mining
Corporation and Southern Copper Corporation among others.
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Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
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