Industry Analysis & Industry Trends
The US mining sector has grown considerably as the economy has recovered. During the recession, weak demand and subsequent drops in output and prices sent revenue crashing in 2009. The sudden drop in iron and steel demand during the downturn caused iron ore prices to fall significantly, forcing industry operators to curtail production or close mines and processing facilities to reduce costs. In the coming years, the industry is expected to continue benefiting from expanding foreign demand... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Iron Ore Mining industry is highly concentrated, with the three largest companies (Cliffs Natural Resources, US Steel and ArcelorMittal) accounting for over three quarters of industry revenue. Industry concentration, which was already high, has been steady in recent years due to continued consolidation activity. A few large companies control the largest and highest-volume producing mines. This results from the small amount of iron ore resource locations available.
Cliffs Natural Resources owns and operates five of the 12 iron ore mines in the United States (Empire, Tilden, Hibbing Taconite, Northshore Mining and United Taconite). The other two largest players are integrated steel manufacturers that mine iron ore to supply their own steel manufacturing operations... purchase to read more