The Mining Sector Continues its Recovery from Pandemic Related Hurdles
NEW YORK , July 6, 2021 |PRNewswire| -- The global mining market is diverse and complex. However, like many industries, the mining sector has also suffered from prolonged setbacks due to the pandemic. Now, analysts expect a stronger growth rate this year with more moderate and familiar rates in the years to come. Overall, the global mining market is expected to grow from USD 1641.67 Billion in 2020 to USD 1845.55 Billion in 2021 and at a compound annual growth rate (CAGR) of 12.4%, according to data by Research and Markets. This growth is mainly due to companies rearranging their operations and recovering from the pandemic''s impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that have resulted in operational challenges. The market is also expected to reach USD 2427.85 Billion in 2025 at a CAGR of 7%. TD Holdings, Inc. (NASDAQ: GLG ), Hudbay Minerals Inc. (NYSE: HBM ), Teck Resources Limited (NYSE: TECK ), Turquoise Hill Resources Ltd. (NYSE: TRQ ), Hecla Mining Company (NYSE: HL ) One major segment of the mining market is non-ferrous metals, which includes aluminum, copper, lead, tin, nickel, titanium, and zinc.
The Mining Sector Continues its Recovery from Pandemic Related Hurdles
NEW YORK , July 6, 2021 |PRNewswire| -- The global mining market is diverse and complex. However, like many industries, the mining sector has also suffered from prolonged setbacks due to the pandemic. Now, analysts expect a stronger growth rate this year with more moderate and familiar rates in the years to come. Overall, the global mining market is expected to grow from USD 1641.67 Billion in 2020 to USD 1845.55 Billion in 2021 and at a compound annual growth rate (CAGR) of 12.4%, according to data by Research and Markets. This growth is mainly due to companies rearranging their operations and recovering from the pandemic''s impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that have resulted in operational challenges. The market is also expected to reach USD 2427.85 Billion in 2025 at a CAGR of 7%. TD Holdings, Inc. (NASDAQ: GLG ), Hudbay Minerals Inc. (NYSE: HBM ), Teck Resources Limited (NYSE: TECK ), Turquoise Hill Resources Ltd. (NYSE: TRQ ), Hecla Mining Company (NYSE: HL ) One major segment of the mining market is non-ferrous metals, which includes aluminum, copper, lead, tin, nickel, titanium, and zinc.