Global Mining Waste Management Market: Overview
Mining activities produce large amount of mining waste during extraction, beneficiation, and processing of minerals. Extraction process is the first phase of mining activity. It comprises initial removal of the mineral ore from the earth’s crust. The process is mainly done by the help of blasting. This creates large amount of wastes such as debris, soil, and other components that are unusable in the mining industry. This is one way in which the industry generates waste. The bigger the size of the mine, greater the amount of waste produced. Once the ore is carried to the surface, it is further processed to extract minerals. This process also generates large quantum of waste due to the quantity of recoverable metal, which is generally a small fraction of the total mass even of a high grade ore. Moreover, with increasing mining activities, higher grade ores are getting depleted. As a result, the Mining Waste Management industry is now focusing on lower grade deposits. Thus, the amount of waste generated is increasing.
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Mining waste requires effective management in order to ensure long-term utilization of storage and disposal facilities in order to prevent or at least minimize the contamination of air, soil, and water from waste. The unsafe practices of Mining Waste Management has always been under scrutiny from local communities and non-government organizations. Technological advancements and stringent environmental regulations have resulted in effective and efficient Mining Waste Management Market practices.
Global Mining Waste Management Market: Key Segments
Based on Mining Waste Management Market type, the mining waste management market can be divided into opencast and underground. Opencast or open-pit or surface mine is the widely used method for extraction of metals and minerals such as gold, coal, etc. from the earth’s crust. Opencast mining is pollution and waste intensive than underground mining.
Based on mineral type, the mining waste management market can be segmented into coal, iron, gold, aluminum, copper, nickel, and others. Coal is anticipated to lead the Mining Waste Management Market due to its large demand from power and energy sectors. Power and energy sectors are now focusing on renewables for sustainable growth; however, coal still forms major part of the global energy generation pie.
In terms of waste type, the mining waste management market can be segregated into overburden & waste rock, tailings, mine water, and others. Overburden & waste rock are generated during the development of open-pit mines and during the extraction of minerals from underground mines. Tailings are mineral and ground rock wastes produced during the mineral processing operations. Mine water can be produced in many ways in a mine site and can be harmful if gets mixed with regular water. Other types of waste includes slags, water treatment sludge, and gaseous waste.
Based on region, the global mining waste management market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the global mining waste management market during the forecast period. This can be attributed to the increase in mining activities in countries such as China, India, and Australia, which are major contributors to the Mining Waste Management Market. North America is anticipated to follow Asia Pacific during the forecast period.
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Global Mining Waste Management Market: Key Players
Key players operating in the global mining waste management market include Hatch Ltd., Amec Foster Wheeler, Enviroserv, Tetra Tech, Inc., and Veolia.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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