Green Mining - Market Analysis & Opportunity Assessment, 2014 - 2020
Oct 16, 2014 | Chemicals & Materials | FMI
Green mining is a sophisticated approach towards environmental conservation and mitigatingthe ill effects of mining on the environment. Green mining is a concept that deals with efficient use of materials and equipment for mining and ensures a balance is maintained with regard to mining resources for future extraction. The market for green mining is composed of equipment, machines, and services, which helps in mitigation of negative environmental impact resulting from mining activities. It also covers mined land rehabilitation after closure of mines.The mining industry is one among the leading consumers of natural resources and energy. High energy intensity, pollution, and complex working conditions are characteristics of the mining industry.
Green mining involves the use of efficient diesel and hybrid engines, use of safe water treatment and disposal technologies, plantation of energy crops as part of rehabilitation activities after closure of mining operations, and ensuring adoption and implementation of best practices across mining operations and organizations. Canada, Finland, the U.K., the U.S., and other developed countries have charted out programs and initiated measures towards sustainable mining development and exploration. Leading mining companies such as Rio Tinto have initiated green mining models in various countries including Australia and Mongolia. The spread of green mining initiatives worldwide is expected to drive growth among ancillaries and related-equipment manufacturers. New technology additions and advancements include use of combined heat and power, fuel cells, driverless vehicles, and star rating programs.
Some of the underlying drivers for high volume growth in the green mining industry are increasing application of end-use products, high growth in the materials and chemical industry, and increasing exploration activities for new mines across the globe. The market for green mining is expected to outpace that of conventional mining equipment and services in the near future. Some leading players in the mining industry include Rio Tinto, K+S, BHP Billiton, Vale, Anglo American, Glencore Xstrata, and other regional and domestic players.
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