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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

The Iron Ore Mining market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 - 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

 


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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