Marine Mining Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2013 - 2019

Marine Mining Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2013 - 2019

The depleting land based mineral resources have created a thrust in marine mining activities that has direct implications on the marine mining market. Marine mining is used to recover the minerals and metals from the seafloor that cannot be extracted with the help of dredgers. With the spark in the marine mining market, Hitachi has even shifted their attention from construction of land based mining equipments to marine mining equipments. With the recent advancement in technologies and innovations the mining companies are shifting their focus from the land based mining to marine or the deep sea mining. In a few countries the volume of some minerals extracted from marine mining has even surpassed the volume extracted by using land mining. The marine mining market can be segmented on the basis of technology (drilling and extraction), minerals extracted and the geographical locations of the marine mining areas and the marine mining companies. Depending upon the drilling technology the marine mining can be classified as either vertical mining or the horizontal mining. For the purpose of mineral extraction, we use either the continuous line bucket system or the hydraulic suction system. The continuous line bucket system operates like a conveyor belt to bring the minerals from the seafloor to the mining ship platform. The hydraulic suction system creates a partial vacuum to extract the minerals from the seafloor. Depending upon the minerals extracted, the marine mining can be classified as poly metallic mining, manganese crust mining and the sulfide deposit mining. The poly metallic mining is used to extract the minerals such as nickel, copper, manganese and cobalt. The manganese crust mining is used to extract mainly, cobalt, molybdenum, vanadium and platinum, while the sulfide mining is used for the extraction of copper, zinc, gold, silver and lead. Marine...