United States Mining Report

Providing expert analysis, independent forecasts and competitive intelligence on the mining.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Petrochemicals Risk Reward Index, Economic Forecasts, Company Profiles and Global, Regional and Country Industry Overviews.

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United States Mining Report
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BMI View: The United States' mining industry value will continue to contract through 2017, as muted production growth in the gold and copper sectors fails to offset sharp declines in coal output.

United States Mining Industry Value Forecast (2014-2020)
2012 2013 2014e 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: BEA, BMI
Mining Industry Value, USDbn 133.50 126.40 130.20 113.80 98.20 92.30 94.40 95.80 97.70
Mining Industry Value, USDbn, % y-o-y -2.00 -5.00 3.00 -13.00 -14.00 -6.00 2.00 2.00 2.00

Latest Updates & Structural Trends

  • The US' mining industry value will decline through 2017, as elevated costs and structurally lower mineral prices weigh on growth. In particular, the declining coal sector, which accounts for nearly two thirds of the US mining industry value, will drag down mining industry value, which we forecast to contract by an average of 0.6% annually over 2017-2020. In absolute terms, we expect the US mining industry value to stagnate, totalling USD97.7bn by 2020 compared to an estimated USD98.2bn in 2016.

  • US coal production will continue to contract due to persistently weak thermal and metallurgical coal prices, significant coal stockpiles and competitively cheap natural gas. We forecast US coal production to maintain a steady decline, averaging a 2.5% contraction over 2017-2020. In terms of volume, we expect the US to produce 625 million tonnes (mnt) of coal in 2017 and only 588mnt by 2020, compared to a peak of 1.1 billion tonnes in 2008.

  • US copper production will edge higher over the coming years, supported by copper price stabilisation and major miners' efforts to cut costs and maintain output. We forecast US copper output to edge higher, totalling 1.3mnt in 2017 and reaching 1.4mnt by 2020, averaging 2.6% annual growth. Over the first seven months of 2016, the country's copper production increased by 3.8% to 815 thousand tonnes (kt).

  • Meanwhile, the lead industry will remain bogged down by weak prices and tightening environmental regulations. The US lead industry will also face headwinds from increasing competition from recycled products, as environmental awareness translates into sustainable development.

  • We expect Democratic nominee, Hillary Clinton, to win the 2016 presidential election in November, and as such expect environmental regulations to continue to tighten. Clinton has expressed support for Obama's environmental initiatives, the full implementation of which will accelerate the decline of the coal industry.

BMI Industry View
Table: United States Mining Industry Value Forecast (2014-2020)
Industry Forecast
Coal: Steep Contraction In 2016 Followed By Steady Decline
Table: Coal Production Forecast (US 2012-2020)
Table: United States - Key Coal Projects
Table: US Coal Bankruptcies
Copper: Major Miners To Eke Out Growth
Table: Copper Production Forecast (United States 2012-2020)
Table: United States - Copper Projects
Gold: Improving Prices To Boost Outlook
Table: Gold Production Forecast (US 2012-2020)
Table: US - Select Gold Mine Projects
Lead: Bleak Future Ahead
Table: Lead Production Forecast (United States 2012-2020)
Industry Risk/Reward Index
United States Risk/Reward Index
Americas: Risk/Reward Index
Key Takeaways
Latest Revisions
Table: Americas - Mining Risk/Reward Index
Regulatory Development
Commodities Forecast
Commodities Outlook
Table: BMI Commodities Price Forecasts
Competitive Landscape
Table: United States - Largest Listed Mining Companies' Financial Data, 2015
Company Profile
Global Company Strategy - Newmont Mining - Q4 2016
Table: Select Commodities - Price Forecasts
Table: Newmont Mining - Key Projects
Table: Newmont Mining - Key Financial Data
Table: Gold - Operational Highlights, 2015
Freeport-McMoRan - Q4 2016
Table: Select Commodities - Price Forecasts
Table: Freeport McMoRan - Key Financial Data
Table: Copper Operational Highlights, 2015
Company Profile - Peabody Energy - Q4 2016
Table: Peabody Energy - Key Financial Data
Regional Overview
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Weighting Of Indicators

The United States Mining Report has been researched at source and features BMI Research's mining and commodity forecasts for metals, minerals and gems, covering all major indicators including reserves, production, exports and values. The report also analyses trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's United States Mining Report provides industry strategists, service companies, company analysts and consultants, government departments, trade associations and regulatory bodies with BMI's independent forecasts and competitive intelligence on the mining industry in United States.

Key Benefits

  • Use BMI's independent industry forecasts on United States to test other views - a key input for successful budgeting and planning in this mining market.
  • Target business opportunities and risks in United States's mining sector through our reviews of latest mining industry trends, regulatory changes and major deals, projects and investments in United States.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity), Key Projects Tables and Competitive Landscape Tables.


BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering mining reserves, supply, demand and prices, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the mining sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2009-2013) and forecasts to end-2019 for key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

  • Mining industry: Industry size (USDmn), real growth (%), % of GDP, employment (‘000), workforce as % of total workforce, average wage (USD).
  • Output: Production volumes (‘000 tonnes, carats etc.) for all major metals, minerals, ores and gems mined in each state, including bauxite, copper, gold, coal, lead, silver, tin, titanium, uranium, zinc etc.
  • Exports: Value of exports (USDmn) for all major metals, minerals, ores and gems mined in each state.
  • Commodity markets: Global demand, supply, stocks and benchmark prices (USD) for aluminium, copper, lead, nickel, tin, zinc, gold and steel.

BMI’s Mining Risk Reward Index

BMI’s Risk Reward Indices provide investors (mining companies and support service providers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Competitive Landscape Tables & Analysis

Comparative company analyses and tables detailing USD sales, % share of total sales, number of employees, year established, market cap/NAV, ownership structure, production and % market share.

Key Projects

Details and analysis of all current and planned developments (new ventures, capacity expansion and other investments) across the sector broken down by metal/ore.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.


The Mining reports are based on an extensive network of primary sources, such as multilateral organisations (UN, WB, IMF), national chambers of commerce and industry, national statistical offices, government ministries and central banks, and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.