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Major Developments in Global Mining Production (World Mining Data 2023)
Welcome to the Mining Insights blog, where we share our analysis and perspectives on the latest trends and developments in the global mining sector. In this post, we will summarize the main findings of a recent report by the USGS on global mining production from 1985 to 2021. The report provides a comprehensive overview of the changes and challenges that have shaped the mining industry in the past four decades.
1. Rising demand:
The demand for minerals and metals has increased steadily, driven by economic development, population growth, and sectoral needs. The report shows that the global mining production grew by 2.5 times from 1985 to 2021, reaching 22.6 billion metric tons in 2021. The main drivers of this demand are the construction, manufacturing, energy, and technology sectors, which rely on various minerals and metals for their operations and products. The report also notes that the demand for minerals and metals is highly correlated with the GDP and population of different regions, especially Asia and Africa, which have experienced rapid growth and urbanization in recent years.

2. Diversification:
The mining production landscape has become more diverse and complex, reflecting the changes in commodity mix, regional distribution, and technological innovation. The report shows that the share of iron and ferroalloy metals, which dominated the global mining production in 1985 with 75%, has declined to 62% in 2021. In contrast, the share of nonferrous metals, industrial minerals, and mineral fuels has increased, reflecting the diversification of demand and supply. The report also shows that the regional distribution of mining production has shifted from traditional producers like Australia, Canada, and South Africa to emerging ones like China, Brazil, and Indonesia. Moreover, the report highlights that the mining industry has adopted new technologies, such as automation, digitalization, and renewable energy, to improve efficiency, safety, and sustainability.
3. Volatility:

The mining production has faced cycles of boom and bust due to various factors that affect price, supply, and geopolitics. The report shows that the price of minerals and metals has fluctuated significantly over time, influenced by market conditions such as supply and demand balance, inventory levels, speculation, and exchange rates. The report also shows that the supply of minerals and metals has been disrupted by various factors such as environmental regulations, social conflicts, natural disasters, accidents, and pandemics. Furthermore, the report shows that the geopolitics of mining has become more complex and uncertain due to global events such as trade wars, sanctions, conflicts, and alliances.

This Chapter concludes that the global mining production landscape is dynamic and challenging, requiring the industry to adapt to new technologies and navigate geopolitical complexities. The report also emphasizes that sustainable practices are essential for longterm success in the mining sector.