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Biomining Market By Type of Metal Extracted (Copper, Iron, Gold, Zinc, Cobalt, Others), By Type of Process (Slope, Heap, In-situ), By Application (Mining, Metal Pollution Control): Growth, Size, Future Prospects, and Competitive Analysis, 2015 - 2027

Market Insights:

The process through which microorganisms extract metals from mine waste or rock ores is known as biomining or bioleaching. The extracted metals are usually bound up in solid minerals, and certain microbes help oxidize these metals and allow them to dissolve in water. Despite of slower adoption rate in early 2000, the acceptance of Biomining has consistently grown over the past few years. Amid a challenging economic environment owing to COVID 19, Biomining has bagged the revenue of USD 1,500 million in 2020. Further, it is expected to exhibit a lucrative CAGR of over 13% to reach a market valuation of a whopping USD 3,600 million in 2027.

Biomining Market

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The process through which microorganisms extract metals from mine waste or rock ores is known as biomining or bioleaching. The extracted metals are usually bound up in solid minerals, and certain microbes help oxidize these metals and allow them to dissolve in water. Despite of slower adoption rate in early 2000, the acceptance of Biomining has consistently grown over the past few years. Amid a challenging economic environment owing to COVID 19, Biomining has bagged the revenue of USD 1,500 million in 2020. Further, it is expected to exhibit a lucrative CAGR of over 13% to reach a market valuation of a whopping USD 3,600 million in 2027.

Biomining Market

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Strong Demand from Europe to Spur Biomining Activities

Europe has remained one of the most sensitive regions toward environmental regulation. As a result, Biomining has experienced early adoption with an increase in its foothold in the region. However, stringent environmental regulation has limited the traditional mining activities in the region to a great extent. As a result, in 2020, the total market share of Europe in the Biomining industry had reached over 30% and was expected to maintain its dominant position over the forecast period.    

Higher Processing Cost and Lack of Scalability to Process Huge Volume

One of the significant restraints for the Biomining industry is higher processing costs as it can't be scaled to process higher volumes at a time. Secondly, there is a need for a large volume of fresh water to execute the Biomining process. Limited availability of such freshwater is also presenting one of the most significant challenges to growth. Surprisingly, the Biomining process also carries a potential threat to the environment if not carried out carefully. During the Biomining process, microbes produce highly acid-rich, metal-rich solutions, and any leakage can cause serious environmental subsequences.       

Slope Process to Lead the Biomining Operations

Slope, Heap, and In-situ are the key process types through which biomining is performed. In 2020, the Slope biomining process accounted for the largest share of the biomining market. The slope process is the most sought-after Biomining process as it's been in existence for a long time and has been proven to be the most efficient, economical, and reliable. However, the Heap process is likely to gain traction in Biomining activities over the forecast period and will exhibit a strong CAGR. 

Copper would continue to dominate the global biomining market in terms of the type of metal extracted.

Copper, Iron, Gold, Zinc, and Cobalt are some major types of metal extracted through the biomining process. Copper mining is the most predominant segment of Biomining among all its applications. Higher demand for copper Biomining can be attributed to its highest demand and depletion of most copper mines. However, gold Biomining is also expected to increase at a rapid pace during the time span of analysis.                           

Leading companies are focusing on extensive research & development in the field of Biomining. Rio Tinto Plc, Freeport-McMoRan Copper and Gold Inc, Rio Algom Ltd, BHP, etc., are leading players in the global Biomining industry. Other prominent players participating in the global Biomining industry include but are not limited to BacTech, Anglo American, Teck Resources Ltd, Nyrstar NV, Bindura Nickel Corporation, Newmont Corporation, and Denison Mines Corp. Major players are focusing on the expansion of their activities to increase their global presence through joint ventures, collaboration, and acquisitions. In addition, increasing encouragement from governments and favorable regulations are attracting new players to venture into the Biomining industry.

Frequently asked questions about global Biomining industry

Biomining is one of the most widely affected industries amid most challenging economic environment caused by the outbreak of COVID 19 pandemic

Copper, Iron, Gold, Zinc and Cobalt are among the most actively mining metals using Biomining process. Copper held the largest share in all the metals extracted via Biomining process and Gold is projected to grow at most rapid CAGR over the forecast period

Heap, Slope and In-situ are most commonly deployed processes for the extraction of metals from ores and rocks. Among all, slope process lead the global Biomining market with Heap process to be fastest growing method

Rio Tinto Plc, Freeport-McMoRan Copper and Gold Inc, Rio Algom Ltd, BHP, and Anglo American are the key players operating in this market

Biomining offers multiple benefits such as low capital requirements, environmental process, optimum recovery, short time span required to execute the process,

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Regional Market Size - North America
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Published Date:  Apr 2021
Category:  Mining, Minerals and Metals
Report ID:   60312
Report Format:   PDF
Pages:   120
Rating:    4.1 (66)
Delivery Time: 24 Hours to 48 Hours   
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