PR Newswire
WILMINGTON, Del., May 14, 2026
Demand for such Metals, Minerals & Battery-Grade Materials Bolsters the Steady Growth of the Global Underground Mining Industry
WILMINGTON, Del., May 14, 2026 /PRNewswire/ — According to a new report published by Allied Market Research, titled, Underground Mining Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2023-2033, The global underground mining market size was $23.1 billion in 2023 and is projected to reach $28.5 billion by 2033, registering a compound annual growth rate CAGR of 2.1% from 2024 to 2033. This development path comes as global industrialization, infrastructure growth, and pressures to decarbonize continue to fuel ever-growing demand for the metals and minerals that power a multitude of industries.
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Report Quick-Reference Data
Report Title Underground Mining Market Global Opportunity Analysis and Industry
Forecast, 2024 to 2033
Report Code
A10694| Allied Market Research
Base Year 2022
Market Size 2020
USD 23.1 billion
Market Forecast 2032
USD 28.5 billion
CAGR
2.1% (2024 to 2033)
By Product
Supported
Unsupported
Caving
By Operator
Contract Mining
Operator Mining
By Application
Coal Mining
Metal Mining
Mineral Mining
Others
Regions
North America | Europe | Asia-Pacific | LAMEA
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Underground mining – the extraction of mineral resources from below the Earth’s surface through a maze of tunnels and shafts is essential to connecting the world’s factories, building sites and power stations with the critical raw materials required. Underground mining allows access to deep-lying ore bodies with less surface disturbance than open-pit surface mining; thus, it is the method of choice for many high-value minerals in populated or environmentally sensitive areas.
This remarkable development is largely attributed to the increase in worldwide industrialization, especially in developing countries, and the ongoing shift towards electrification (i.e., electric vehicles (EVs), renewable energy infrastructure) which calls for unprecedented sums of metals copper, cobalt, lithium, nickel and others almost exclusively drawn from underground deposits. The combination of these macro tailwinds makes the market a ripe opportunity for sustained value creation over the next decade, according to a report from Allied Market Research titled ‘Underground Mining Market by Product (Supported, Unsupported and Caving), Operator (Contract Mining and Operator Mining), Application (Coal Mining, Metal Mining and Mineral Mining and Others): Global Opportunity Analysis and Industry Forecast, 2024 to 2033.
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Key Market Insights
The underground mining market is a complex ecosystem driven by technological innovations, changing commodity demand trends, and sustainability needs. Here are the key takeaways from the most recent intel:
Major Growth Driver High Demand for Metals & Minerals: The global increase in infrastructure development activities, production of consumer electronics and the EV boom continue to drive high demand for metals like copper, nickel, cobalt and lithium. Underground mines are, therefore, ideally suited to respond to this requirement; they contain some of the richest and deepest ore bodies on earth.
Emerging Opportunity Battery-grade Material Supply: A new demand vector for underground mining centered around the production of battery-grade materials will be driven by the rapid proliferation of electric vehicles and grid-scale energy storage systems. Long-term structural opportunity for battery manufacturers, who need high-purity cobalt, lithium and nickel – minerals principally mined underground.
Automation & Digitalization: Increased deployment of automation technologies in underground mining practices such as remote-controlled equipment, autonomous vehicles and robotics are used to enhance safety and efficiency. The combination of IoT sensors, real-time data analysis, and AI power predictive maintenance is also improving the operational benchmarks.
Restraints-Renewable Energy Substitution &Safety: The increased focus towards moving away from fossil fuels at a society level is an increasing headwind for underground mines that are coal based. Meanwhile, safety worries from mine collapses and toxic gas exposure to flooding risks keep operators on high alert, subjecting the industry to regulatory oversight that adds both costs and complexity.
Sustainable Mining Technologies: Fast adoption of BEVs in underground haulage They have substantially lower emissions than diesel equivalents, lesser ventilation costs, reduced noise and also higher energy efficiency ‹ thereby making them a financially compelling proposition for operators seeking to comply with more stringent carbon regulations.
Market Segment
It provides a detailed analysis of the overall underground mining market, broken down by product type, operator model and application vertical, each demonstrating individual competitive dynamics and growth trajectories.
Segment Overview – By Product Type (Supported, Unsupported, Caving): The Supported mining segment accounted for the largest revenue share in 2023. Supported mining methods use artificial structural supports timber, rock bolts, arch support and concrete linings to keep mine workings stable for many different geological environments. This versatility and applicability to a wide range of rock types contributes to its global dominance as a methodology. In contrast, the caving mining segment is projected to expand at most rapid CAGR by 2033, attributed to technological advancements that allow safe, efficient extraction of deeper ore bodies through controllable rock mass caving methods.
Contract mining held the largest revenue share among operators in 2023 and is expected to continue growing at the fastest CAGR over the forecast period. The dominant market share of this segment can be attributed to the growing trend of outsourcing specialized mining functions globally towards cost-effective solutions, utilization of technological know-how from third-party vendors, and effective capital allocation. More mining companies are opting for contracts that can enable them to essentially scale up or down their operations with ease, as opposed to keeping an oversized in-house labour and equipment fleet.
By Application – Coal Mining, Metal Mining, Mineral Mining & Others: In 2023, coal remained the largest segment in terms of size within the underground mining market; while it was also one of the fastest-growing segments worldwide and particularly so across high growth economies such as Asia where coal remains an important fuel type. Metal Mining which includes copper, gold, silver, zinc, nickel and platinum group metals is expected to register the highest CAGR during the forecast period due to increasing demand for metals arising from constructions as well as advancements in technologies and green energy transition. The application landscape rounds out mineral mining for industrial minerals.
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Regional Insights
Asia Pacific – Market Leader: The Asia-Pacific is expected to retain its pinnacle position in the global underground mining market throughout 2033. The regions leadership lies in its enormous mineral wealth from coal, metals and industrial minerals supplying an ongoing strong global appetite for commodities. Around the world, rapidly growing economies and urban environments are leading to increased mining opportunities in places like China, India and Australia. Meanwhile, the region has also developed new mining technologies that have significantly improved operational efficiency and safety while meeting stringent environmental standards. Strategic public sector investments in infrastructure projects not only increase the demand for metals and minerals but also, stable regulatory frameworks favor ongoing national and foreign investment in mining activities.
North America: North America is considered a mature underground mining market but has the most advanced technology. It is an economically important source of globally significant deposits of copper, gold, nickel and potash for the US and Canada. The region has the highest level of deployment of automated drilling systems, autonomous haulage solutions and digital mine management platforms and sets the standard for operational excellence and innovations in worker safety.
Europe: In terms of underground mining, the European market is shaped by strict environmental regulations and a gradual transition to low-emission technologies for extraction. Scandinavian countries especially Sweden and Finland are among the pioneers on a global scale in sustainable underground mining, generating strong investments into both electrification of surface and underground mining equipment as well as circular economy frameworks for mineral processing.
ROW: LMEAs’ huge undeveloped mineral reserves offer long-term growth potential Many of these nations, including Chile, Peru, the Democratic Republic of Congo and South Africa are also critical links in the global supply chain for copper, cobalt, platinum and gold minerals that are primarily mined underground.
Key Players
Competitive landscape of global underground mining market is mildly fragmented, composed of diversified mining giants and specialist underground mining contractors. Major Market Players Profiled in the Report: The following are the key players identified in the Allied Market Research report
S&P Global Top 250 – BHP (London) – A large diversified resource company with substantial underground copper and coal operations worldwide
Anglo American Plc – A mining giant with active underground platinum group metals and copper mines in South Africa, Peru and Chile.
Rio Tinto – Seven direction sites within it as one of leading iron ore, copper and aluminum producers with a greater focus towards sustainable underground mining practices.
Vale – The Brazilian mining giant and one of the largest producers of nickel and iron ore globally with strategic underground expansions in progress.
Implats Platinum Limited – One of the largest producers of platinum group metals operating underground projects largely in South Africa.
Norilsk Nickel – The largest producer of palladium in the world and among the top producers of nickel, with large underground mines located in Russia.
Amur Minerals Corporation – An exploration and development company hunting for nickel-copper sulphide deposits in the Far East of Russia.
Alcoa Corporation – One of the world’s largest alumina and aluminium producers with bauxite mine operations in its upstream segment.
Redpath Group – An internationally recognized underground mining contractor, offering specialized services on six continents.
GBF Underground Mining Company – An underground mining contracting firm with experience on hard-rock operations across Australia and overseas.
These players have adopted growth strategies through new product launches, technology partnerships, acquisitions and joint ventures to establish a credible market presence across the value chain of North America within economic cycles of commodity prices.
Key Recent Industry Developments
Implementing a series of defining changes, the underground mining sector has emphasized its ongoing pursuit of innovation, sustainability, and strategic growth through:
Battery-Electric Vehicle (BEV) Trials – BHP, Rio Tinto & Caterpillar: Australia’s first Caterpillar 793 XE Early Learner battery-electric haul trucks have begun on-site trialling at BHP’s Jimblebar iron ore mine in collaboration with Rio Tinto. An industry- first, the initiative seeks to confirm battery-electric technology as a practical alternative for diesel in high-tonnage mining operations, signalling a critical step change toward mine decarbonization and an electrified underground/surface haulage armada.
Sustainable Mining Focus – Anglo American & Rio Tinto: By adopting best practices for their operational protocols with respect to global standards of zero-impact mining, Anglo American and Rio Tinto strongly believe that sustainable means the new norm when it comes to resource extraction. The two companies are focusing on smaller-scale extraction methods, water recycling plants and mine rehab initiatives.
Strategic Acquisitions – Vale & Discovery Silver Corp.: In their efforts to increase its position in critical minerals, Vale has made tactical acquisitions. Meanwhile, supporting the continuing M&A theme in the space, Discovery Silver Corp. announced last April 2025 that it bought out Newmont Corporation at its Porcupine Complex for a cost of US$425m.
Hopeful Overhaul – Zijin Mining and Barrick Gold: In 2023, an influx of capital was deployed by both Zijin Mining Group Limited (HKG:2899) and Barrick Gold Corporation (NYSE:GOLD). Both companies had a sizeable increase in their mineral exploration footprints as they sought to lock up future resource pipelines across Africa, Latin America, and Central Asia.
Technology Partnerships – Gradiant, Schlumberger & Rio Tinto: Signalling the continued convergence of mining and advanced technology, Gradiant Corporation formed a partnership with Schlumberger NV and the Rio Tinto Group to provide leading-edge water treatment and process optimization solutions to improve mining productivity and sustainability.
Open-Pit => Underground This transition occurred in November 2025 when a major miner began an underground trial at one of its large open-pit operations – signalling an industry-wide shift to the new mining methods as surface reserves are exhausted and deeper, high-grade ore bodies become more economic to exploit.
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Tengo varias preguntas sobre esto a ver si me podiais aclarar:
-¿Puedo hacer un ingreso regular de 800 euros y me cobran 0euos de comisiones y mto.?
-¿Puedo sacar el dinero cuando quiera?,¿todo ó tengo entendido que hay que mantener un mínimo de 100 euros los 30 meses?
-No necesito pero me obligan a sacar una tarjeta de débito que me cuesta 11 euros el primer año y 22 euros la renovación, también otra de credito que me cuesta 0 euros el primer año y 35 euros la renovación.
¿Hay que mantenerlas 13 meses?
¿Puedo cancelar alguna de ellas desde el principio?
¿Puedo cancelar alguna de ellas antes de la renovación?
¿Hay alguna tarjeta de credito más barata?
Aparte de la cuenta nómina he visto que también que para que te den la tv también se puede sacar una cuenta tarifa plana básica o personal, ¿sabeis algo de estas cuentas?¿que requisitos tienen?
Muchas gracias a todos por responder
Yo fui a informarme y te cuento. Únicamente admiten los ingresos regulares en el caso de que seas autónomo. Te abren una cuenta Tarifa Plana Cero que está exenta de comisiones y presenta alguna ventaja más. Sobre dejar un mínimo de saldo en la cuenta no es necesario, pero sí te obligan a mantener varias tarjetas durante los 30 meses con un coste aproximado de 100 euros anuales.
hola buenas!
me llamo javi y estoy dudando de que banco, me puede dar mas beficios, sin sorpresas por domiciliar la nomina, ya que llevo años en la caixa y no me da nada ningun beneficio. es mas me rechazan los prestamos que solicito, ni siquiera una targeta de credito, por alegan de que siempre esta a cero la cuenta, yo cuando cobro la nomina dejo el dinero para los pagos, y saco el resto, pues no me fio, de que un dia me quede sin dinero, ya que esta todo muy mal, corre riesgo mi dinero o mis ahorros en el banco?? muchas gracias y un cordial saludo.
javi
NO TE EXTRAÑE QUE NO TE DEN LOS PTMOS, PORQUE LO QUE VEN ES QUE NO TIENES CAPACIDAD DE AHORRO PORQUE SIEMPRE DEJAS LA CTA. EN MINIMOS, ASI NINGUN BANCO TE LO VA A CONCEDER. TAMBIEN ES VERDAD QUE LA CAIXA, COMO TANTAS OTRAS CAJAS, TIENE EL PUÑO CERRADO PARA LOS RIESGOS, PARA REMONTAR. NO TE PREOCUPES, QUE POR UNA NOMINA NO CREO QUE NINGUN BANCO SE COJA LAS MANOS. LOS QUE SE TIENEN QUE PREOCUPAR SON LOS QUE TIENEN DÉPÓSITOS Y FONDOS EN BANCOS DE DUDOSA ACTIVIDAD. LA GENTE SE PIENSA QUE PORQUE LES DEN UN 7% YA ES UN GRAN BANCO Y SE EQUIVOCAN. LO QUE LES PASA ES QUE EL BANCO DE ESPAÑA LES PRESTA EL DINERO MAS CARO Y POR ESO OPTAN POR CONSEGUIRLO EN EL MERCADO MONETARIO, Y SI EL BANCO DE ESPAÑA NO SE FIA DE ELLOS, VA Y SE FIA LA GENTE. QUE LOS BANCOS NOES LA ADMON PUBLICA, ABRAN OS OJOS.
Hola , cuando vallais al banco queos dejen lo que hay que pagar de irpf y de iva sobre el valor de la tele ya que en la mayoria de bancos esto no lo dicen y luego llagan las sorpresas .A mi ya me ha pasado con la promoción del portatil y nunca me hablaros de esto . Cuidado
Yo he estado calculando y la tele entre unas cosas y otras te sale sobre unos 250euros que tampoco regalan tanto .Hay oficinas en las que han dado la occión de poner un dinero a plazo fijo a 12meses de 9300euros o 6800euros a 18 meses.
No es ningún chollo. Te obligan a contratar dos tarjetas de crédito que tienes que pagar porque las tienes que mantener 13 meses por lo menos y además llevan unos costes desproporcionados si las utilizas. En total, no usando las tarjetas y anulándolas una vez cumplidos los 13 meses puedes ahorrar unos 38 euros con respecto al precio de ese televisor en una gran superficie. Y además luego vendrá que te cobran para hacienda la retención correspondiente, por lo que probablemente incluso en las mejores condiciones te cueste más que si ahorras un poco y lña compras directamente.
Creó que teneis toda la razón, que aqui no te regalan nada, ya que a mí me paso con unas sartenes que regalaban el banco bilbao, que al final entre el irpf y el descuento de Hacienda, al final me salieron caras, así es que no os tomen el pelo, que al final siempre esta la letra pequeña que es la que nos joroba, por no decir otra cosa.
Yo saque el portatil y ahora me he sacado la TV LCD 32. Estas promos no hay que declararlas. No es obligado domiciliar nomina. Si, meter en la cuenta 800€ todos los meses en un margen de 10 dias. Cero matacero, pero cero,cero, cero de gastos de mantenimiento, ni por recibos, ni por el correo a casa, ni por transfer. Las tarjets gratis el 1er año. Resto fuera. Dadas de baja Menos la de debito. Banesto no pierde nada, ganar, gana clientes que es el proposito de esta promo. Precio de portatil y tv 32 en mercao unos 900€ los 2. En banest 197€. Los hay mejores, nos ha jodio! portatiles a 1200€, TV LCD 32 a 1000€. Señores, son lentejas. Relacion calida-precio-promo es cojonud…….Un saludit a los viandantes.
hola , no se si llegara mi comentario pero os voi a esplicar. esto es el cuento de la abuela. mira yo tengo el portatil. y he cogio tab la tele, pero sabeis ke?, me ha pasado de todo. os esplico. primero me cobran 74 euros y 25 euros de unas tarjetas que yo no las he visto aparecer por mi casa , me cabreo con el banco. llamo y pido esplicaciones. me dicen que van en la promocion, nunca jamas nadie me informo de las tarjetas, no me devuelven el dinero. me cabreo y me dicen que llame aun numero de tefono para darlas de baja, se pasan los dias, intentamos darlas de baja. largas y larga, que si este numero de tefono que si el otro bla bla bla. conseguimos hablar y nos dicen que tenemos que cambiar el contrato a tarifa plana o no se ke historias, llamando al banco se pasan los dias, largas y largas. me cabreo y estoi por suspender todo, me dicen que si lo quiero cambiar y dar de baja las tarjetas que nunca he tenido. tengo que pagar comisiones cada seis meses de doce y pico euros, y que si no quiero que me cobren comisiones tengo que ir todos los meses al banco a hacerlo yo, ufffffffffff.aun hay mas. me dan de baja y me hacen la tarifa plana, se equivocan un monton de veces. me hacen pasar muchos cabreos.y al final cuando llego a casa me han cobrado 25, 50 euros. y llamo por telefono y se lo digo , me dicen claro por dar de baja la otra cuenta , la madre que los pario. ladrones. o sea os digo que la tele no sale regalada, se la cobran y muy bien cobrada , nadie da nada por nada. en cuento termine de pagar lo que debo quito todas las cuentas del banesto.espero que alguien me lea y que me conteste gracias .
Banesto ha jodido a mi marido y a un amigo tambien. Para mi, despues de Banco de Andalucía son los peores. Y quieran creerlo o no ni la television ni el portátil te lo regalan.. como no cumplas cualquiera de las reglas te sancionan con 300 y pico de euros.. porque nos hemos mudado de casa y los recibos domiciados se cortaron «temporalmente» la sancion fue de mas de 300 euros.. y el cabreo q te llevas cuando ves lo q te han descontado y luego para ir a reclamarlos.. y como te tratan !! en fin.. espero que Banesto sea lo primero en undirse en el fin del mundo!!
CHOLLO!!!!!!!!!JAJAJAJAJA…….NO ES NINGUN CHOLLO!!!!!!! te cobran 100 € de gastos de manipulacion, mas 150 € en tarjetas durante 2 años, mas 6 € mensuales de mantenimiento de cuenta durante 30 meses, total que pagas 630 Euros por un ordenador o una TV que su valor seguro que no llega a 500 €. Y encima si vas a cancelar la cuenta cuando cumples los 30 meses requeridos te hacen esperar dos horas para decirte que no tienen linea de telefono para dar de baja la cuenta, cosa que no para nunca cuando vas a contratarlo. Y del trato que dispensan….., es el mismo que si vas con un fajo de billetes de 500 € por los CO-JONES
Banesto «premia», menuda falacia…
No hay ningún banco que premie a nadie.
BANESTO NECESITA NUESTRAS NÓMINAS, Y EN CUANTO VAS UN POCO JUSTO, COMO BUENOS JUDÍOS Y ÁVAROS QUE SON, TE ACOSAN Y MACHACAN, Y TE SACAN HASTA LAS ENTRAÑAS EN COMISIONES.
DESPUÉS EL ESTADO APOYA A LOS BANCOS, CON LA EXCUSA DE QUE SI CAEN LOS BANCOS CAEMOS TODOS. LOS BANCOS NECESITAN UN BOICOT DE VEZ EN CUANDO, PARA QUE NO NOS RESTREGUEN POR LA CARA SUS BENEFICIOS.
POR CIERTO, LO QUE MÁS FASTIDIA A UN BANCO ES UNA RECLAMACIÓN EN LA OFICINA DEL CONSUMIDOR Y OTRA AL BANCO DE ESPAÑA.
ES POR DAR PISTAS…