The depleting land based mineral
resources have created a thrust in marine mining activities that has direct
implications on the marine mining market. Marine mining is used to recover the
minerals and metals from the seafloor that cannot be extracted with the help
of dredgers. With the spark in the marine mining market, Hitachi has even
shifted their attention from construction of land based mining equipments to
marine mining equipments. With the recent advancement in technologies and
innovations the mining companies are shifting their focus from the land based
mining to marine or the deep sea mining. In a few countries the volume of some
minerals extracted from marine mining has even surpassed the volume extracted
by using land mining.
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The marine mining market can be
segmented on the basis of technology (drilling and extraction), minerals
extracted and the geographical locations of the marine mining areas and the
marine mining companies. Depending upon the drilling technology the marine mining
can be classified as either vertical mining or the horizontal mining.
For the purpose of mineral extraction, we use either the continuous line
bucket system or the hydraulic suction system. The continuous line bucket
system operates like a conveyor belt to bring the minerals from the seafloor
to the mining ship platform. The hydraulic suction system creates a partial
vacuum to extract the minerals from the seafloor. Depending upon the minerals
extracted, the marine mining can be classified as poly metallic mining,
manganese crust mining and the sulfide deposit mining. The poly metallic
mining is used to extract the minerals such as nickel, copper, manganese and
cobalt. The manganese crust mining is used to extract mainly, cobalt,
molybdenum, vanadium and platinum, while the sulfide mining is used for the
extraction of copper, zinc, gold, silver and lead. Marine mining can also be
used to extract gems from the seabed.
Regional segmentation can be done
on the basis of location of marine mining regions and companies. Some of the
major marine regions are near shore and deep water areas of, Mexico and the
United states (North America), Central and Eastern Manus basin near Papua New
Guinea, Indonesia, Fiji, Tonga, Vanuatu, Micronesia and the South West Indian
ridge ( Asia pacific region), South Africa, Namibia and Ghana ( Middle East
and Africa) and Brazil ( Rest of World). Major marine mining companies
are located in the United States, Canada, Netherlands, Belgium and South
Africa. According to DeBeers website Namibia’s Atlantic coastal areas hold at
least 80 million carats of gems, the world’s richest marine diamond deposits.
Depleting mineral resources,
abundance of undersea mineral reserves and advancement in mining technologies
are the drivers for marine mining market. Stringent environmental laws and
huge initial expenditure in marine mining can be a restraint in the marine
mining market. Vast untapped undersea reserves and low competition due to a
small number of players can act as opportunities in the deep sea mining
market.
Marine mining is a new mineral
retrieval process requiring sophisticated technology; hence there are limited
numbers of existing players in the market. Some of the major players in the
marine mining market are DeBeers group (South Africa), Nautilus Mineral Inc
(Canada), Oceanflore, Panda Marine Mining and Exploration Company, IHC Merwede
B.V (Netherlands) and Neptune Minerals (United Kingdom).
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for
upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of recent
developments in technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review of micro
and macro factors essential for the existing market players and new entrants
along with detailed value chain analysis.
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Reasons for Buying this Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market growth
- It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the
key product segments and their future
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in-depth analysis of market segments
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graphics and exemplified SWOT analysis of major market segments
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