Industry Background:
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.
According to AMA Research, the market for Gold Mining is expected to register a CAGR of 3.35% during the forecast period to 2030. This growth is primarily driven by High-quality Deposits with High Mine-life Ensures More Gold Per Ton of Ore Mined
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Tonnes |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Diversified Metals & Mining sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.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
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
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Gold Mining Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Gold Mining Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Gold Mining players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Gold Mining Study Sheds Light on
The Gold Mining Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Gold Mining industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Gold Mining industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.