Global Surface Mining Market

Surface mining refers to the mining technique where the overlying layer of soil and rock is removed, followed by the recovery or excavation of the underlying minerals. This method of mining provides considerably better recovery, safety, flexibility, environmental conditions and grade control as compared to other mining methods such as underground mining. The technique of surface mining gained momentum in the 16th century and has been widely prevalent at a global level, especially in North America.

Factors such as lower injury rates, better recovery, flexibility and grade control serve as drivers for the global surface mining industry. However, from an environmental perspective, surface mining tends to have an extensive and more prominent impact on the surrounding environment as compared to underground mining. This is a disadvantage for the global surface mining industry. Hence, to counter this environmental impact associated with the surface mining operations, a safety zone needs to be placed around the mining area.  Another disadvantage associated with the global surface mining industry is the relatively higher transport cost involved during the mining operation. For instance, the transportation cost of rock in open pit mining method accounts for about 50% of the total operating cost. Supporting regulations for surface mining such as the Surface Mining Control and Reclamation Act, 1977 in the US, and proper economic planning alongwith the establishment of safety zone near the mine surface have been introduced in recent times. These developments, the vast horizontal and low lying reserves and the surging demand of iron-ore, diamond, chromium and coal, will act as opportunistic factors for the global surface mining market.