Non-Metal Mining & Quarrying
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 2,700 non-metal mining companies in the US develop mine sites, extract non-metallic minerals from mines, and process the minerals mechanically through beneficiation (crushing, grinding, washing, separating, and concentrating) or by using chemical or electrochemical techniques. Products include dimensional stone blocks or slabs, crushed or broken stone, sand and gravel, clay, and minerals such as potash, soda, borate, sodium, potassium, and phosphate.
Injuries and Fatalities Drive Regulation
The mining industry has a high injury and fatality rate.
Environmental Impacts Of Extraction
During operation, mining companies must control soil erosion and prevent runoff that could contaminate nearby bodies of water.
Industry size & Structure
The average non-metal mining company operates out of one to two locations, has about $58 million in annual revenue, and employs about 37 workers.
- The non-metal mining industry consists of about 2,700 firms that employ 100,800 workers and generate about $156 billion annually.
- Major industry segments include dimensional and crushed stone mining and quarrying; sand and gravel quarrying and dredging; and clay, ceramic, refractory, and other nonmetallic mineral mining and quarrying.
- About 71% of establishments have fewer than 20 employees.
- 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.
- Large US companies include Martin Marietta Materials, The Mosaic Company, Compass Minerals International, Intrepid Potash, and United States Lime & Minerals.
Industry Forecast
Non-Metal Mining & Quarrying Industry Growth
Recent Developments
Sep 27, 2024 - Record High Employment
- Producer prices for non-metal mining and quarrying firms rose 4.9% in July compared to a year ago after jumping 7.8% in the previous July versus July annual comparison, according to the latest US Bureau of Labor Statistics data. Producer prices are at a record high, which helps mitigate rising payrolls. Meanwhile, mining capacity utilization dipped 1.3% year-over-year in July to 88.8%, and mining industrial production fell 1.6% over the same period. Employment grew 1.4% year-over-year in August to a new high for the industry, while average wages for non-metal mining and quarrying firms rose by 0.9%% YoY in July to $30.83 per hour, BLS data show.
- According to USGS Mineral Industry Survey estimates, production and consumption of crushed stone and sand and gravel declined in the second quarter and the first half of 2024. An estimated 404 million metric tons (Mt) of crushed stone was produced and shipped for consumption in the US in the second quarter, a decrease of 5% compared to a year ago, while production in the first half fell 5% YoY. The five leading producing states (Texas, Florida, Pennsylvania, Missouri, and Ohio) saw production decline 9% in the second quarter YoY. US output of construction sand and gravel fell 7% in Q2 and 6% in the first half, while total production in the top five producing states fell 10% versus Q2 2023. Aggregates play a key role in the construction industry, with a total of $35 billion of crushed stone and sand and gravel produced in the US in 2023.
- According to the National Mining Association (NMA), a broad coalition of US mineral and energy producers supports the Energy Permitting Reform Act of 2024, bipartisan legislation introduced in July. The bill, which was advanced in the Senate Energy and Natural Resources Committee, would accelerate the permitting process for critical energy and mineral projects of all types in the US by reforming leasing, permitting, and the judicial review process for certain energy and minerals projects. NMA President and CEO Rich Nolan cited a report released by S&P Global that found it takes an average of 29 years to bring a mine online in the US, an untenable situation if the US is to secure the critical minerals needed to secure supply chains and compete with China. Coal leases on federal land, securing rights-of-way across Indian land, and hardrock mining mill sites are covered in the bill.
- In 2023, 40 miners died in work-related accidents across the US, the highest number in a single year since 2014, according to the latest data from the Mine Safety and Health Administration (MSHA). The number of fatalities in 2023 was nearly half the 72 fatalities recorded in 2010 and 10 more than in 2022. Thirty-one of the 40 fatalities occurred at sites fitting MSHA’s description of a metal/nonmetal mining operation. The other nine fatal accidents happened at coal mines. The MSHA characterized 16 of last year’s fatalities as involving machinery, with 10 classified as powered haulage accidents. Combined, machinery and powered haulage accounted for nearly two-thirds (65%) of mine fatalities last year.
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