NAICS Code 2122 - Metal Ore Mining

NAICS 2122 - Metal Ore Mining

NAICS 21 - Mining
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 212 - Mining (except Oil and Gas)
  NAICS 211 - Oil and Gas Extraction NAICS 212 - Mining (except Oil and Gas) NAICS 213 - Support Activities for Mining
  - NAICS 2122 - Metal Ore Mining
    NAICS 2121 - Coal Mining NAICS 2122 - Metal Ore Mining NAICS 2123 - Nonmetallic Mineral Mining and Quarrying

This industry group comprises establishments primarily engaged in developing mine sites or mining metallic minerals, and establishments primarily engaged in ore dressing and beneficiating (i.e., preparing) operations, such as crushing, grinding, washing, drying, sintering, concentrating, calcining, and leaching. Beneficiating may be performed at mills operated in conjunction with the mines served or at mills, such as custom mills, operated separately.

Industry trends:

The Metal Ore Mining industry (NAICS 2122) has been experiencing several qualitative trends that are shaping its current landscape and future outlook. A significant trend is the increasing focus on sustainable and environment-friendly mining practices. Companies are investing heavily in technologies that reduce carbon emissions and improve waste management, driven both by regulatory pressures and the increasing demand for green metals essential for renewable energy technologies, such as lithium, cobalt, and nickel.

Another notable trend is the growing adoption of automation and digital technologies. This includes the use of AI and machine learning for predictive maintenance, autonomous drilling and haulage systems, and advanced data analytics to optimize ore extraction processes. These innovations are not only improving operational efficiency but also enhancing safety and reducing operational costs.

In terms of market dynamics, there has been a strong demand for metals driven by economic recovery post-pandemic, alongside significant investments in infrastructure and technology, especially in emerging economies. The electrification of transportation and the surge in electric vehicle (EV) production are also expected to fuel demand for various metals.

Looking ahead, the near future of the metal ore mining industry appears to be characterized by continued technological advancements and increased sustainability efforts. Companies that can leverage these trends effectively are expected to gain competitive advantages and drive growth. Moreover, as the global emphasis on clean energy expands, the demand for metals critical to these technologies will likely remain robust, supporting the industry's expansion.