Explore the Mining Industry Outlook 2024

The mining industry is significantly driven by technological advancements and increasing demand for raw materials. This mining industry outlook explores key market data as well as areas of innovation and their implications for companies worldwide.

The mining industry outlook presents a sector that contributes significantly to the global economy, supplying necessary raw materials for multiple sectors such as construction, manufacturing, and more. This report investigates the present condition of the mining industry, investment patterns, firmographic data, and innovations that are molding its future. It also explores key trends such as exploratory drilling, mining drones, and mining robots.

This mining report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Mining Industry Outlook 2024

Mining-Industry-Report-HeatMap-StartUs-Insights-noresize

Executive Summary: Mining Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 2800+ mining startups developing innovative solutions to present five examples from emerging mining industry trends.

  • Industry Growth Overview: The mining market report shows a significant decline in growth at 26.75% per annum, and comprises 58000 companies.
  • Manpower & Employment Growth: The global manpower in the mining industry amounts to 7.5 million workers. It saw an increase of over 330000 employees in the past year.
  • Patents & Grants: The sector possesses over 52000 patents, indicating a considerable level of innovation and technological progress. It also received more than 3700 grants, showing support and funding for research and development.
  • Global Footprint: The five leading country hubs are the US, Australia, Canada, India, and China. The city hubs are Perth, Vancouver, Sydney, Brisbane, and Melbourne.
  • Investment Landscape: The average investment value in the industry is USD 50.6 million per funding round. There are over 11000 funding rounds and more than 4000 investors have contributed to the sector, with over 4800 companies receiving investments.
  • Top Investors: Prominent investors such as Tencent, Trafigura, Orica, and others have invested more than USD 13 billion.
  • Startup Ecosystem: Five innovative startups include Astay Systems (Mining Technologies), Decoda (Mining Data & Analytics), Sistrat (Remote Monitoring System), Iridium Molybdenum (Energy Rigid Mining Truck), and Poldrone (Mining Drones).
  • Recommendations for Stakeholders: Governments and regulators should establish and enforce policies that encourage responsible mining and ensure fair labor practices. Investors should concentrate on companies with robust ESG credentials and innovative solutions that reduce ecological impact. Entrepreneurs should explore opportunities in specialized markets such as rare earth elements and battery minerals vital for the green energy transition. Companies should also explore automation, digitalization, and safety enhancements to optimize mining operations.

Explore the Data-driven Mining Outlook for 2024

The Mining Industry Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap emphasizes important data points in the mining industry. The database includes 2800+ startups and over 58000 companies, showing considerable industry participation. The sector saw -26.75% growth in the last year, with over 52000 patents and 3700 grants, highlighting notable innovation and funding activities.

Global manpower in this industry amounts to 7.5 million, with an employee increase of over 330000 in the past year, indicating growing employment opportunities. The five leading country hubs are the US, Australia, Canada, India, and China, with the top city hubs in Perth, Vancouver, Sydney, Brisbane, and Melbourne, indicating key geographic centers of mining startup activity.

What data is used to create this mining report?

Based on the data provided by our Discovery Platform, we observe that the mining industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The industry produced over 66000 news publications last year. This shows considerable media attention.
  • Funding Rounds: There are over 11000 funding rounds recorded in our database.
  • Manpower: With more than 7.5 million workers globally, the industry added over 330000 new employees last year.
  • Patents: The mining sector has over 52000 patents, indicating a considerable level of innovation and technological progress.
  • Grants: It received more than 3700 grants, showing solid support and funding for research and development.
  • Yearly Global Search Growth: The yearly global search growth for the mining industry is at 8.98%, showing growing public and business interest.
  • and more. Contact us to explore all data points used to create this mining report.

A Snapshot of the Global Mining Industry

The mining industry report shows growth and investment across various key metrics. With a global manpower of 7.5 million, the industry saw an employee increase of 330000 in the last year, indicating growing employment opportunities. The sector includes over 58000 companies, which shows considerable industry participation and activity.

Explore the Funding Landscape of the Mining Industry

Investment in the mining industry is solid, with an average investment value of USD 50.6 million per funding round. The total number of investors is over 4000, contributing to more than 11000 closed funding rounds, showing financial support and confidence in the sector. In addition, over 4800 companies have received investments, indicating a wide distribution of financial backing across the industry. This suggests a dynamic and growing mining industry with notable workforce expansion and investment activity.

Who is Investing in Mining?

The mining industry saw considerable investment activity, with a group of investors collectively contributing over USD 13.2 billion. This financial input indicates the trust and backing these investors have in the sector’s potential for growth.

  • Tencent has allocated USD 2.1 billion across 3 companies, showing its commitment to the mining industry.
  • Trafigura has funded 5 companies with a total investment of USD 1.4 billion, indicating its strategic involvement.
  • Orica has put USD 1.3 billion into 4 companies, showing its financial engagement in the sector.
  • CRH has pledged USD 1.3 billion to 3 companies, indicating its contributions.
  • Parkland has allocated USD 1.2 billion across 3 companies, showing strong financial support.
  • Sandvik has allocated USD 980.7 million to 8 companies, showing a wide range of financial support.
  • Oaktree Capital Management has pledged USD 975 million to 4 companies, indicating its considerable involvement in the mining industry.
  • and more. Get in touch to explore all investment data in the mining industry.

Explore the emerging trends in the mining industry along with the firmographic data:

  • Exploratory Drilling is a noted trend in the mining industry, with 110 companies identified in this sector. These companies employ over 7200 individuals, indicating a sizable workforce presence. Last year, the industry added 415 new employees, suggesting continued growth and expansion. Further, the annual trend growth rate for exploratory drilling is -37.23%.
  • The Mining Robots trend is noticeable, with 1000+ companies identified in this sector. These companies on average employ 62 individuals, indicating a sizable workforce engaged in automation and technology-driven mining solutions. In addition, the average funding per round of USD 66 million suggests an increase in the development, adoption, and integration of robotic technologies in mining operations.
  • Mining Drones are a trend in the mining industry, with 340+ companies identified in this specialized sector. These companies employ an average of 45 individuals, indicating a growing workforce. Moreover, the average funding per round for mining drone companies stands at USD 20.7 million.

5 Top Examples from 2800+ Innovative Mining Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Astay Systems offers Mining Technologies

Peruvian startup Astay Systems develops technological products for the mining industry. DataTwin, one of its products, serves as a digital twin for mining operations and provides real-time visualization, control, and prediction. Its DataGrade, acts as a simulator for short-term mining plans and integrates various mining systems for control and estimation. HaulControl, a system for monitoring and controlling hauling equipment, enables remote real-time monitoring of earthmoving operations. DataFrag, a rock fragmentation prediction system, optimizes blasting results by creating realistic scenarios for optimal fragmentation. Lastly, DataGuard serves as a fatigue prediction assistant for operators and prevents incidents related to operator fatigue in mines.

Decoda provides Mining Data & Analytics

Australian startup Decoda develops products for mine site operations. The RockAware™ solution, an AI detection system, scans for obstacles like sharp rocks that pose a threat to truck tires. This system is mounted on haul trucks and operates continuously, ensuring safety and efficiency. The O4R Analytics as a Service (AaaS) platform uses a wide range of site and equipment data to provide full visibility. This platform aids in reducing operator performance issues, improving productivity, and minimizing unplanned downtime by monitoring operator and equipment behaviors. The O4P product for load & haul utilizes the Rich Data set from an existing FMS and identifies productivity obstacles, implements sustainable solutions, and promotes a cycle of continuous improvement.

Sistrat builds Remote Monitoring System

Chilean startup Sistrat develops real-time monitoring systems for mining operations. The SiGET system monitors ground-engaging tools (GET) shedding in real-time through sensors installed in each GET. This system provides real-time alarms displayed in the operator’s cabin, dispatch, or on mine personnel’s mobile devices. It prevents a detached GET from entering the crushing area, enhancing safety and efficiency. In addition, the BWear system remotely monitors bushing wear levels wirelessly. It optimizes the useful life of the bushing by planning its replacement efficiently and timely. These systems work together to prevent unscheduled stoppages and improve overall productivity.

Iridium Molybdenum provides Energy Rigid Mining Truck

Chinese startup Iridium Molybdenum offers EM165H, an intelligent mining dump truck. This truck supports multiple power systems, including battery electric drive, methanol extended-range hybrid, and hydrogen extended-range hybrid. The vehicle has a good energy-saving rate compared to traditional mining dump trucks. The EM165H model also features a multi-axle steering system, enhancing flexibility. In addition, it provides a 360-degree view assist driving system for convenience and reliability. Lastly, the truck’s cabin design effectively prevents dust intrusion and reduces noise pollution

Poldrone offers Mining Drones

Polish startup Poldrone develops multi-purpose UAVs for various sectors, including mining. The product line includes the AZIMUTH, a drone equipped with advanced radio/video transmission systems and deep learning elements. This drone operates in complete radio silence, following predetermined Azimuth and Coordinates. Another product, XECUTOR, functions as a long-range, long-endurance drone for mapping and surveillance. The SWIFT VTOL, constructed from damage-resistant materials, incorporates advanced operator assistance systems.

Looking for Comprehensive Insights into Mining Trends, Startups, or Technologies?

The 2024 mining industry report presents a sector undergoing changes given considerable advancements and new possibilities in the process and technology. Trends such as exploratory drilling, mining robots, and drones suggest a future oriented toward efficiency, safety, and sustainability. Contact us to explore all 2800+ startups and scaleups, as well as all industry trends impacting mining companies.

Industry Report CTA Visual

Download the Mining Report!
We’ll deliver it straight to your inbox!



    Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

    Get in touch to accelerate your innovation agenda!



      Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

      StartUs Insights logo

      Discover our Free Construction Report 21 pages

      DOWNLOAD
      Discover the latest Construction Trends!
      We'll deliver our free report straight to your inbox!



        Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

        Free Resources
        Discover the latest Manufacturing Trends!
        We'll deliver our free report straight to your inbox!



          Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

          Discover the latest Construction Trends!
          We'll deliver our free report straight to your inbox!



            Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

            Discover the latest Materials Trends!
            We'll deliver our free report straight to your inbox!



              Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

              Discover the latest Energy Trends!
              We'll deliver our free report straight to your inbox!



                Protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.