Base metals are those metals that are inexpensive and are common as compared to precious metals. These metals usually have higher strength, require comparatively lesser maintenance, and are corrosion resistant. In mining, base metals are considered as non-ferrous metals except precious metals. The base metals are common metals such as lead, copper, zinc, and lead. It finds its application in electrical and electronics, automotive, and construction industry.
COVID-19 scenario analysis :
COVID 19 Scenario
The COVID-19 has extremely affected the economy in the world in a negative wat, hence the Base metals market also got affected abruptly and experienced a slowdown in the generation of revenue. There were strict regulations by governments of various countries, which caused reduction in demand for Base metals in the current scenario. Furthermore, industries are focusing on innovations during the lockdown situation, such that it could help gain attention of majority of the players in the forecast period.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The key factors affecting the industry include surge in demand from construction, electrical and electronics, and automotive sectors, which are anticipated to grow further during the forecast period. Growth in residential and non-residential construction sectors to boost the demand for aluminum and copper products. There is a boost in need for electric vehicles and other commercial vehicles, which is anticipated to contribute to the demand. Demand from sectors such as electronic utilities, consumer electronics, and general electronics has observed a steep rise in recent years.
The global Base metal mining market trends are as follows:
New acquisitions to boost the base metal mining market
The major companies are focusing on upgradation according to need in the market, which would help the industry to gain traction in next few years. The market demands have changed over time and growth in need for base metal mining has propelled in these years. For instance, in August 2017, First Quantum Minerals Ltd. announced that it had signed an agreement with LS-Nikko Copper to acquire its 10% ownership interest and shareholder loans in Minera Panama S.A. which holds the concession for the Cobre Panama project. The Company acquired LS-Nikko Copper's 50% interest in Korea Panama Mining Corporation, a 50/50 joint venture company with Korea Resources Corporation, which holds a 20% interest in MPSA. The acquisition's headline value is $635 million payable in six installments over a five-year period. Additionally, in October 2019, South Korea’s LS Nikko Copper signed a contract with Canada’s First Quantum Minerals (FQM) bought 120,000 tons per year of copper concentrate for 15 years starting in 2020.
Surge in applications of copper to boost the base metal mining
Copper is commonly used for interior design, building and manufacturing, and architecture. There are key properties such as durability, low maintenance, and corrosion resistance, which makes it suitable for applications such as roofs, wall cladding, spires, gutters, expansion joints flashings, domes, and downspouts. Furthermore, advent of green buildings over coming years is anticipated to create prospects for use of copper goods. Recyclability, thermal energy efficiency, and long life makes copper a safe commodity for green building applications. In addition, Copper's stable electrical conductivity allows lighting, fans, generators, and devices to increase their energy performance.
Key benefits of the report:
- This study presents the analytical depiction of the global Base metal mining industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Base metal mining market share.
- The current market is quantitatively analyzed to highlight the global Base metal mining market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the industry.
- The report provides a detailed global Base metal mining market analysis based on competitive intensity and how the competition will take shape in coming years.
Base metal mining Market Report Highlights
Key Market Players
Vale, BHP, Norilsk Nickel, Zijin Mining Group Co. Ltd., Glencore., Anglo American, Antofagasta PLC, Aurubis, CODELCO, Freeport-McMoRan Inc.