Mining, Minerals, Metals Industry:
Though it may seem like an outdated industry, the mining, metals, and minerals industry for ms the foundation of modern society. Mining consists of locating, excavating, and processing geological materials such as metals, minerals, or precious stones. Energy-related materials, as well as cultivable resources are excluded from this category. This industry is typically dominated by large, multinational firms.
Industry Composition
The metals, minerals, and mining industry is defined as activities involved in locating, excavating, and processing metals, minerals, and other geological resources that are needed in the economy. The industry contains five main segments:
Trends
Technology has come to play a greater role in the industry, making way for better safety measures and reducing the amount of workforce needed for a job. The steel industry has especially benefited from this, with some companies reducing manpower by up to 90 percent.
Industry Leaders
Glencore International (Switzerland), ArcelorMittal (Luxembourg), BHP Billiton (Australia), Posco (South Korea), Sojitz (Japan)
