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 Locations Chapter
Currently, there are 11 US mines producing iron ore, concentrated primarily in Minnesota, Michigan and Missouri. Although there are other iron ore deposits across the country, the current location of operating iron ore mines is determined by the location of the most economically viable iron ore deposits. Regional breakdown of US iron ore production has been stable for several years. Because the industry also includes facilities for beneficiation, agglomeration and pelletizing of iron ore, establishment share is diversified beyond the location of mines, bringing the total number of industry establishments to 28.
The Plains accounts for the greatest share of US iron ore production facilities (about 34.5%), with all production from this region occurring in Minnesota and Missouri... purchase to read more