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(IT-NEWSWIRE.COM, July 30, 2018 ) Iron ore mining industries include companies carrying out activities such as developing mine sites, mining and beneficiating iron ores and manganiferous ores valued chiefly for their iron content. It includes producing sinter iron ore, except iron ore produced in iron and steel mills. It also includes producing other iron ore agglomerates.
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The global iron ore mining market was valued at $163 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region in the market, accounting for almost four-fifth of the global market share. The market saw a decline due to high operational cost and stringent regulations regarding ferroalloys, steel and iron manufacturing.
The market in the report is segmented into: surface mining, underground mining and others.
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China was the largest country in the market, accounting for almost two-fourth of the global iron ore mining market share. China was followed by Japan and the USA as the next largest countries in the market.
The top five competitors in the market are Arcelor Mittal followed by Nippon Steel & Sumitomo Metal Corporation (NSSMC), POSCO, TATA STEEL and VALE. ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation headquartered in Boulevard d’Avranches, Luxembourg. It was formed in 2006 from the takeover and merger of Arcelor by Indian owned Mittal Steel. ArcelorMittal is the world's largest steel producer and it is ranked 123 in the 2017 Fortune Global 500 ranking of the world's biggest corporations.
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