Green Mining Market Expected to Reach $27.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Green Mining Market," The green mining market size was valued at $11.4 billion in 2022, and is estimated to reach $27.9 billion by 2032, growing at a CAGR of 9.5% from 2023 to 2032. Mining companies that adopt green mining practices enhance their reputation among various stakeholders including local communities, governments, non-governmental organizations (NGOs) and the general public. By demonstrating a commitment to environmental sustainability these companies can mitigate negative perceptions associated with the mining industry and position themselves as responsible corporate citizens.  Moreover, green mining practices involve engaging and collaborating with stakeholders throughout the mining lifecycle. These factors are anticipated to boost the green mining market growth in the coming years.

By involving stakeholders in decision-making processes and addressing their concerns, mining companies can gain support for their operations and minimize conflicts. Investors are increasingly interested in environmental, social, and governance (ESG) factors when evaluating investment opportunities. By implementing green mining practices, mining companies can align themselves with the expectations of socially conscious investors who prioritize sustainable and responsible business practices. This can attract investment capital and potentially lower the cost of capital for these companies. Demonstrating a commitment to sustainability through green mining practices can give mining companies a competitive edge in the industry. This advantage can result in increased market share and long-term business growth.

However, many stakeholders in the mining industry, including mining companies, investors, and local communities, may have limited knowledge about green mining practices. They may not be aware of the available technologies, techniques, and processes that can help reduce the environmental impact of mining operations. Without adequate knowledge, it becomes challenging for them to understand the potential benefits and feasibility of adopting sustainable mining methods. In some regions, there may be a lack of clear regulations or policies that promote and incentivize green mining practices. Without supportive regulatory frameworks, mining companies may not prioritize sustainable practices, as there may be no legal requirements or incentives to do so. Limited awareness and education about the benefits of green mining can contribute to the lack of pressure on governments to implement such regulations.

Green mining focuses on reducing water consumption in mining operations. Implementing water-efficient technologies and practices can lead to substantial water savings. For example, advanced mining equipment and processes can be designed to minimize water usage during mineral extraction and processing stages. Green mining promotes the recycling and reuse of water within mining operations. Instead of continually drawing freshwater from local sources, water can be treated and recycled for various mining processes. This approach not only conserves water but also reduces the need for discharging wastewater into the environment.

Moreover, green mining encourages the adoption of advanced water treatment technologies to minimize the industry's impact on local water sources. Green mining emphasizes effective management of tailings and mine water. Tailings, the waste materials generated during mining operations, can contain harmful substances that can contaminate water sources. Implementing environmentally responsible practices, such as proper containment and treatment of tailings, can prevent water pollution incidents. These factors are anticipated to boost the green mining market share in the upcoming years.

The green mining market outlook is segmented on the basis of mining type, mineral or metal extracted, technology, and region. By mining type, it is classified into surface mining, underground mining, placer mining, and in-situ mining. By mineral or metal extracted, it is classified into mineral fuels, iron & ferro-alloys, non-ferrous metals, precious metals, and industrial minerals. By technology, it is classified into mine filling, water preservation, simultaneous extraction of coal & gas, oxidizing utilization of ventilation air methane (VAM), gangue discharge reduction, mining from tailings, dust suppression techniques, liquid membrane emulsion technology, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The key players profiled in the green mining market report include BHP, Rio Tinto, Anglo American PLC, Glencore PLC, Liebherr, Tata Steel Mining Limited, Jiangxi Copper Corporation Limited, Exxaro, Dundee Precious Metals Inc., and Komatsu Ltd.

The report offers a comprehensive analysis of the global green mining market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the green mining market analysis by studying the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the green mining market forecast are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Green Mining Industry

• The COVID-19 pandemic has had significant impacts on various sectors, including mining. The pandemic highlighted the importance of building resilient and sustainable systems. Governments, companies, and stakeholders have shown increased interest in sustainable practices. Therefore, there may be a greater emphasis on implementing green mining technologies and practices as part of the recovery efforts from the pandemic.
• The mining industry, like many others, experienced disruptions in the global supply chain due to lockdowns, travel restrictions, and reduced workforce availability. These disruptions affected the implementation of green mining technologies, such as delays in the delivery of renewable energy equipment or reduced access to specific resources required for sustainable mining practices.
• The economic consequences of the pandemic influenced investment decisions within the mining industry. Financial constraints and uncertainties affected the allocation of resources for green mining initiatives.

Key Findings of the Study

• Based on mining type, the surface mining sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
• Based on mineral or metal extracted, the mineral fuels sub-segment emerged as the global leader in 2022 and the precious metals sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on technology, the oxidizing utilization of ventilation air methane (VAM) sub-segment emerged as the global leader in 2022 and the dust suppression techniques sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, the Asia-Pacific market registered the highest market share in 2022 and is projected to maintain its position during the forecast period.