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.
Environmental Impacts Of Extraction
During operation, mining companies must control soil erosion and prevent runoff that could contaminate nearby bodies of water.
Injuries and Fatalities Drive Regulation
The mining industry has a notoriously high injury and fatality rate.
Industry size & Structure
The average non-metal mining company operates out of one to two locations, has about $11 million in annual revenue, and employs about 35 workers.
- The non-metal mining industry consists of about 2,700 firms that employ 95,300 workers and generate about $30 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
Feb 27, 2023 - Push to Reshore US Mining
- National security concerns and surging demand for EV battery metals and minerals is driving efforts to reshore US mining, according to RealClearEnergy.Org. Currently, the US relies on China for more than half of the minerals and metals deemed critically important for the nation's economic health and military readiness. As recently as the 1990s, the US was the world's largest producer of rare earth minerals, while today it has just one rare earth mine. As the US transitions to clean energy sources, demand for rare earths is massive and growing. The Massachusetts Institute of Technology says a wind turbine rated at 3.5 megawatts of electricity contains 1,300 pounds of rare earths. The problem isn't a lack of domestic mineral resources. The United States is home to $6.2 trillion worth of mineral reserves, according to the National Mining Association.
- US crushed stone production was about 1.5 billion tons – valued at more than $21 billion – in 2022, essentially unchanged compared with 2021, according to the US Geological Survey's National Minerals Information Center (NMIC). Apparent consumption of crushed stone increased to 1.6 billion tons last year due to growth in the construction market. Commercial and heavy-industrial construction activity, infrastructure funding, labor availability, new single-family housing unit starts, and weather affect rates of crushed stone production and consumption. Long-term increases in construction aggregates demand are influenced by activity in the public and private construction sectors, as well as by construction work related to US infrastructure improvements, according to NMIC. The underlying factors that would support a rise in prices of crushed stone are expected to be present in 2023, especially in and near metropolitan areas. Texas is the top state for crushed stone production followed by Florida and Missouri.
- The number of mining fatalities has increased despite a decline in the number of mines and miners, the latest statistics from the Mining Safety and Health Administration (MSHA) show. There were 37 mining fatalities in 2021 (vs 25 in 2016) with the fatal injury rate rising to 0.0146 from 0.0095 over the same period. The all-injury rate, however, declined from 2.31 to 1.91 over the five-year period. Fatalities at coal mines and metal and non-metal mines both ticked up, according to MSHA figures. Notably, the number of citations and orders for all mines issued fell sharply – from more than 97,000 to just shy of 78,000 between 2016 and last year.
- Declines in coal-powered electricity production and paper manufacturing are reducing the demand for lime, which plays a key role in many air pollution control applications. US lime demand is forecast to decline 1.3% yearly in volume terms through 2026, according to Lime: United States, a recent report by Freedonia Focus Reports. Declining demand for flue gas desulphurization (FGD) due to declines in coal use, as well as falling paper and paperboard production, will trigger decreases. Mitigating factors in lime’s decline are expanding construction activity, chemical output, and steel production. Quicklime is expected to remain the leading form of lime used, owing to its versatility and low price, according to the report.
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