Base Metal Mining Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 – 2023

Cheaper price and large number of applications of base metals is forecasted to propel the demand for the base metal in the near future. As the demand and production of any metal are symmetrical in nature therefore it is likely that the mining companies will increase their production to narrow the supply demand gap. Advancement in mining technologies is another factor that can boost the base metal mining market. These metals are present in abundance and hence are cheaper and are frequently mined as compared to their counterparts. The common base metals such as copper, lead, nickel and zinc find their use in large number of applications ranging from the use in the electrical wiring to the galvanization. Revival of the European and North American economies has further strengthened the demand for the base metals.

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The segmentation of the base metal mining market can be done on the basis of the type of metal, mining technique and application. The base metals include copper, nickel, lead, zinc and aluminum. Unlike, the precious metals such as gold, silver and platinum these metals are readily available and are mined in large quantities. The mining technique depends upon the metal to be extracted. For example, lead is extracted from its ore present in the underground mines by applying the underground mining technique. Underground mining involves the extensive drilling and blasting to reach the ore body. Once, the ore is recovered from the underground mine, it is further processed to extract the pure metals such as lead. The underground mining technique is much difficult and costlier as compared to the surface mining technique. Other base metals such as copper, zinc and nickel are also extracted using the underground mining technique. Aluminum is extracted from bauxite, which is mined using strip mining technique. The extracted bauxite is first converted into...