Vanadium industry comprises organizations engaged in developing the mine site, mining, and/or beneficiating vanadium ores.
Vanadium Global Market Size
The global vanadium market was valued at $2.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $2.1 billion or 77.8% of the global market. China was the largest country accounting for $1.3 billion or 48.1% of the global vanadium market.
Vanadium Global Market Trend
The use of robots in the vanadium mining industry is improving the efficiency and productivity of mines and reduces operational costs. Robotics is significantly increasing the mining capabilities by rolling out autonomous trucks and drills, thus reducing the need for human workforce. Robots are used in some critical mining activities such as drilling, blasting explosives in the mines, and guiding and driving off-highway haul trucks operating in mines. For instance, RioTinto has deployed driverless trucks and robotic rock drilling rigs to haul the ore 24 hours a day and reported 15% reduction in operating costs.
The companies covered are Atlantic Ltd, VanadiumCorp, Evraz, Panzhihua Iron and Steel Group, and Bushveld Minerals.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
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