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Iron Ore Mining in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Iron Ore Mining Market Research Report | NAICS 21221 | Dec 2014

Pumping iron: A decline in the price of iron ore will lead to a slight drop in revenue

IBISWorld’s Iron Ore Mining market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 09-14
24.6%
Annual Growth 14-19
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Profit
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Employment
4,657
Businesses
21
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 - Starting a New Business Chapter

There are substantial barriers to entry into the Iron Ore Mining industry. These include the capital expenditures necessary to undertake exploration programs and to fund mine development. Additionally, opening a mine is a very lengthy process, and upon a mine's completion there is no guarantee it will be economical. Obtaining the rights to operate at a mine owned by a competitor can also be difficult and require large royalties. The high concentration of large players who control most of the high production mines in the United States also make it difficult for new entrants. Competition for mine properties is nonexistent as the major players own and control most higher-grade mines, with the three largest companies responsible for almost all US iron ore output... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Iron Ore Mining Industry?

Companies in this industry mine iron-bearing ores. In addition to ore extraction, mining includes the development of mine sites and the processing of ore into a concentrated or pellet form. Iron ore and iron ore pellets are then sold as an input for blast-furnace steel production (Iron and Steel Manufacturing industry, IBISWorld report 33111).

Industry Products
Iron ore pelletsConcentratesFine oresSinterOther agglomeratesNuggets
 
Industry Activities
Iron ore miningIron ore beneficiating


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