Metal Ore Mining
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Industry Summary
The 262 metal ore producers in the US are primarily engaged in developing mine sites, extracting ores (metal-bearing rock), and processing it to extract the desired metals, including iron ore (hematite, magnetite, siderite, taconite), precious metals (gold, silver, platinum), copper, nickel, lead, zinc, uranium, radium and vanadium ores, and other metals. Extraction processes include dressing (picking, sorting, washing of ores), milling (crushing, grinding), and beneficiation (processing to improve purity or quality).
Environmental Compliance
Metal ore producers are directly impacted by a wide range of environmental regulations that affect the permitting, operation, and reclamation of mining sites.
Talent Shortage
As the US looks to boost its domestic stocks of critical metals and minerals required for the green energy transition, the mining industry is facing a major shortage of talent.
Recent Developments
May 16, 2025 - NIOSH Cuts Threaten Miners' Safety
- Cuts to the National Institute for Occupational Safety and Health by the Department of Government Efficiency, or DOGE, threaten miners’ safety just as the Trump administration is seeking to expand mining in the US, NPR reports. “This is not just an attack on jobs,” said President of the United Mine Workers of America (UMWA) Cecil E. Roberts condemning the cuts. “This is an attack on the very foundation of worker safety in the United States of America.” Roberts said the dismantling of the Respiratory Disease Division at NIOSH eliminates the nation’s leading defense against black lung disease and other respiratory illnesses that afflict miners. In March, President Trump signed an executive order to fast track permitting and expand US mining, with cuts at NIOSH following soon after. More mining would mean more miners to protect. However, miners' protections are being stripped away, according to UMWA.
- President Trump has signed an executive order aimed at boosting the deep-sea mining in US and international waters, marking his latest attempt to boost US access to nickel, copper, and other critical minerals used widely across the economy, USA Today reports. The EO, signed in April, prioritizes US leadership in seabed mapping and mineral exploration, to ensure access to critical minerals like manganese, nickel, cobalt and rare earth elements, according to a White House Fact Sheet. It affirms the nation’s right to extract critical minerals from the ocean floor, enabling companies to bypass the International Seabed Authority and seek permits directly from the National Oceanic and Atmospheric Administration, which will review applications and issue exploration licenses and commercial recovery permits to US entities for deep-sea mining in international waters. The EO builds on Trump’s previous attempts to tap international metal and mineral deposits in Greenland and Ukraine.
- The price of antimony – a critical metal used in munitions, solar panels, semiconductors, and other industrial products – is rising following China’s ban on certain rate earth mineral exports to the US, Reuters reports. In December, China banned exports of certain rare earth metals to the US in retaliation for the Biden administration’s imposition of export controls to China, pushing antimony prices to all-time highs, between $39,500-40,000 per metric ton as of Dec. 31. Overall, antimony prices soared by around 250% last year. China controls roughly half of global antimony production, with Tajikistan and Russia controlling some 30%, leaving the US dependent of foreign sources. To reduce US reliance on imports, Idaho-based Perpetua Resources – the only mine source of antimony in the US – and smelter operator United States Antimony Corp. are exploring a partnership to establish an antimony supply chain in Idaho and Montana, Metal Tech News reports.
- The bipartisan Good Samaritan Remediation of Abandoned Hardrock Mines Act of 2024, signed into law by President Biden in December, cuts the red tape to allow state agencies and nonprofits to begin the long-overdue clean up of an estimated 23,000 legacy abandoned actively draining mines in Colorado, and well over 100,000 nationwide, according to the National Mining Association (NMA). Previously, the intricacy of federal environmental law had scared off would-be do-gooders from stepping in to clean up actively draining abandoned hardrock mines because they risked becoming legally and financially liable for the pollution. According to the NMA, the bill’s passage will encourage the involvement of mining companies in the clean up. A version of the law was first introduced in Congress in 1999.
Industry Revenue
Metal Ore Mining

Industry Structure
Industry size & Structure
The average metal ore mining company operates out of one to two locations, has about $129.5 million in annual revenue, and employs fewer than 171workers.
- The metal ore mining industry includes 262 firms that employ 44,900 workers and generate $33.9 billion in annual revenue.
- Most companies operate only one or two mine sites at a time due to the large capital investment in equipment needed for extraction and processing.
- Major industry segments include mining and processing iron ore, gold and silver ore, copper, nickel, lead, and zinc.
- The industry is highly concentrated: the top 20 companies account for 94% of annual revenue.
- Large companies with operations in the US include ArcelorMittal, Hibbing Taconite Company, Cliffs Minnesota Mining Co., Barrick Gold, Newmont Corp., and Freeport-McMoRan. These companies may be vertically integrated with mining and steelmaking operations and mines outside the US.
- Minnesota produces most of the iron ore mined in the US. Almost all iron ore (98%) is used to make steel.
Industry Forecast
Industry Forecast
Metal Ore Mining Industry Growth

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