Allied Market Research

Gold Mining Market Is Anticipated to Grow Due to Development of Better Mining Equipment

The gold mining market is segmented on the basis of mining method, end user, and geography.


Portland, OR -- (SBWIRE) -- 01/12/2018 -- Gold mining is a process of extracting gold from the gold mine by various methods such as placer mining and hardrock mining. Early miners extracted gold by placer mining. Placer mining uses a variety of technique such as panning, sluice boxing, hydraulic mining, and dredging. All these techniques use the same principal, which is gravity and running water to extract gold. The dense gold gets separated from the lighter sand and gravel as the running water passes through the ore. Most of the current gold production is from hardrock mining. Hardrock mining is an underground mining technique in which underground tunnels are made, which allows massive underground excavation of the gold ore.

Increase in demand for gold and increase in the use of gold in various industries drive the growth of the gold mining market. However, the cost of mining is extremely high, which hinders the growth of the market. Development of better mining equipment is expected to provide lucrative growth opportunity for the market.

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The gold mining market is segmented on the basis of mining method, end user, and geography. By mining method, the market is bifurcated into placer mining and hardrock (lode) mining. Based on end user, it is categorized into investment, jewelry, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players analyzed in this report are Barrick Gold Corporation, Newmont Mining Corporation, AngloGold Ashanti Ltd, Goldcorp Inc., Kinross Gold Corporation, Newcrest Mining Ltd, Gold Fields Ltd, Polyus Gold International Ltd, Agnico Eagle Mines Ltd, and Global Gold Mining Market.

Gold Mining Market Key Segments:

By Mining Method

-Placer Mining
-Hardrock (Lode) Mining

By End User