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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 | Nov 2015

Pumping iron: A decline in the price of iron ore will lead to a 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
$5bn
Annual Growth 10-15
-10.5%
Annual Growth 15-20
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Profit
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Employment
4,411
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 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

 


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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