Magnesite mining include mining of
magnesite ores that is used in pharmaceutical and chemical applications.
Magnesite is a whitish mineral consisting of magnesium carbonate, used as a
heat-resistant lining in some furnaces.
The global magnesite market was valued at
$8 billion in 2017. Among regional markets, Asia Pacific was the largest
geographic region in the market, accounting for more than one-third of the
global market share. The market saw a growth as the use of renewable energy is
helping magnesite mining companies to reduce energy consumption and control
emissions in the mines. As the solar or wind projects are built close to the
mine sites, the cost of connecting to the power grid is also reduced.
Site-appropriate renewable energy sources are reliable, consistent and also
economical. BHP Billiton, RioTinto, and Barrick Gold have started
implementation of renewable energy sources in their mines.
The market in the report is segmented into:
magnesite ore, dead-burned magnesia, fused magnesia and other magnesite.
The USA was the largest country in the
market, accounting for one-fifth of the global magnesite market share. This can
be attributed to the country’s economic power, abundant mineral resources,
increased energy demand, and high government and private expenditure in the
manufacturing industry. The USA was followed by India and Japan as the next
largest countries in the market.
The top three competitors
in the market are: BHP Billiton followed by
RioTinto and Barrick Gold. BHP Billiton
plc, an Anglo-Australian multinational, is headquartered in Melbourne, Victoria,
Australia. It was founded in 1885.
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