Cognitive Computing Leads To Big Advances In Metal Ore Market Operations

The Business Research Company’s Metal Ore Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, April 27, 2022 /EINPresswire.com/ -- Mining companies are starting to use cognitive computing to enhance the decision-making capabilities in mining operations. The ability of cognitive computing to give insights on future trends of the industry and make real-time decisions are some of the driving factors for mining companies to implement this technology. The key areas where cognitive computing and predictive technology helps mining companies include giving accurate information on drilling locations, depth to be drilled, predicting the equipment failure in advance and autonomous transportation. Goldcorp is using IBM Watson to analyze drilling reports and geological survey reports. This approach assists geologists with the exploration process and by helping them make more accurate, data-driven decisions.

The global metal ore market size is expected to grow from $417.68 billion in 2021 to $478.85 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The global metal ores market share is expected to grow to $831.22 billion in 2026 at a CAGR of 14.8%.

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The presence of large metal ore reserves globally supported the metal ore industry growth. Metal ore reserves such as iron ore reserves are available in almost every country worldwide with 50 countries are involved in mining iron ore. According to the U.S Geological Survey, countries such as Australia with 900 million tons and Brazil with 490 million tones of usable iron ore dominate the world's iron ore exports, each having about one-third of total exports. The other reserves are in the China, USA, Russia, South Africa, Ukraine, Canada and India. According to the metal ore market forecast, the large metal ores reserve such as iron ores reserves globally supported the growth of the market.

Major players covered in the global metal ore industry are Vale S.A., Rio Tinto, BHP Group, Anglo American plc, Fortescue Metals Group Limited, Barrick Gold Corp, Newmont Corporation, Lonmin, Glencore International and AngloGold Ashanti Limited.

TBRC’s global metal ore market report is segmented by type into gold ore, iron ore, silver ore, uranium ore, vanadium ore, others, by organization size into large enterprises, small and medium enterprises, by form into sinter fines, lumps, pellets, others.

Metal Ore Global Market Report 2022 – By Type (Gold Ore, Iron Ore, All Other Metal Ores, Silver Ore, Uranium Ore, Vanadium Ore), By Organization Size (Large Enterprises, Small And Medium Enterprises),By Form (Sinter Fines, Lumps, Pellets, Other Forms) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a metal ore market overview, metal ore market forecast, metal ore market size and metal ore market growth for the whole market, metal ore market segments, geographies, metal ore market trends, metal ore market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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