About Gold Mining
The global Gold Mining market is expected to witness high demand in the forecasted period due to an increase in demand for gold and an increase in the use of gold in various industries. Gold mining is a process of extracting gold from the gold mine by various methods such as placer mining and hard rock mining. At the country level, China was the largest producer in the world in 2018 and accounted for around 12 percent of total global production. The development of better mining equipment is expected to provide lucrative growth opportunities for the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.35% |
Competition among existing players is due to the Gold Mining market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Gold Mining market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Gold Mining market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Newmont Mining United States), Coeur Mining (United States), Freeport-McMoRan (United States), North Bloomfield Mining and Gravel Company (United States), Gold Reserve (United States), Golden Star Resources (Canada), NovaGold Resources (Canada), Royal Gold (United States), Homestake Mining Company (United States), Delta Consolidated Mining Company (United States) and Dakota Territory Resource Corp [United States] are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Barrick Gold (Canada), AngloGold Ashanti (South Africa), Goldcorp (Canada), Kinross Gold (Canada), Newcrest Mining (Australia), Gold Fields (South Africa), Polyus Gold (Russia), Agnico Eagle (Canada) and Sibanye (South Africa).
Segmentation Overview
AMA Research has segmented the market of Global Gold Mining market by Type (Hard Rock Mining, By-product Gold Mining, Placer Mining, Panning, Sluicing, Dredging and Rocker box), Application (Cupellation Method Refining, Inquartation Method Refining, Miller Chlorination Process Refining, Wohlwill Electrolytic Process Refining and Aqua Regia Process Refining) and Region.
On the basis of geography, the market of Gold Mining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Refining Industry will boost the Gold Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Incorporation of Digital Technologies in Gold Mining Industries
Market Growth Drivers:
High-quality Deposits with High Mine-life Ensures More Gold Per Ton of Ore Mined and Growing Demand of Gold Metal for Personal and Commercial Applications
Challenges:
Geographical Concentration of Gold Supply and Issues Related with Reserve Replacement Owing to Depletion of Gold Mines
Restraints:
Adverse Environmental Effect Associated with Gold Mining Such as Water Contamination, Habitat Destruction and Others and Stringent Regulatory Guidelines with Regards to Gold Mines
Opportunities:
Deployment of AI, Blockchain and Others Technologies in Gold Mining Industry and Growing Government Investment in Exploration of New Gold Mines
Market Leaders and their expansionary development strategies
In November 2023, Newmont Corporation announced it has completed the acquisition of Newcrest Mining Limited to create the world’s leading gold company with robust copper production.
In September 2019, The World Gold Council, the market development organisation for the gold industry, has announced the launch of its Responsible Gold Mining Principles. The Principles are a framework that set out clear expectations for consumers, investors and the downstream gold supply chain as to what constitutes responsible gold mining. The World Gold Council, working with its Members, the world’s leading gold mining companies, has set out the Principles that it believes address key environmental, social and governance issues for the gold mining sector.
Key Target Audience
Gold Mines Industry, Government Agencies, Research Institutes, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.