Economy, asked by arhaansiddiqui982, 4 months ago

Explain mining industry

Answers

Answered by SpandanaGutam
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Answer:

Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef or placer deposit. These deposits form a mineralized package that is of economic interest to the miner.

Explanation:

Since the beginning of civilization, people have used stone, ceramics and, later, metals found close to the Earth's surface. These were used to make early tools and weapons; for example, high quality flint found in northern France, southern England and Poland was used to create flint tools.Flint mines have been found in chalk areas where seams of the stone were followed underground by shafts and galleries. The mines at Grimes Graves and Krzemionki are especially famous, and like most other flint mines, are Neolithic in origin (c. 4000–3000 BC). Other hard rocks mined or collected for axes included the greenstone of the Langdale axe industry based in the English Lake District.

The oldest-known mine on archaeological record is the Ngwenya Mine in Eswatini (Swaziland), which radiocarbon dating shows to be about 43,000 years old. At this site Paleolithic humans mined hematite to make the red pigment ochre.Mines of a similar age in Hungary are believed to be sites where Neanderthals may have mined flint for weapons and tools.

Mining exists in many countries. London is known as the capital of global "mining houses" such as Rio Tinto Group, BHP Billiton, and Anglo American PLC.The US mining industry is also large, but it is dominated by the coal and other nonmetal minerals (e.g., rock and sand), and various regulations have worked to reduce the significance of mining in the United States. In 2007 the total market capitalization of mining companies was reported at US$962 billion, which compares to a total global market cap of publicly traded companies of about US$50 trillion in 2007. In 2002, Chile and Peru were reportedly the major mining countries of South America.The mineral industry of Africa includes the mining of various minerals; it produces relatively little of the industrial metals copper, lead, and zinc, but according to one estimate has as a percent of world reserves 40% of gold, 60% of cobalt, and 90% of the world's platinum group metals.Mining in India is a significant part of that country's economy. In the developed world, mining in Australia, with BHP Billiton founded and headquartered in the country, and mining in Canada are particularly significant. For rare earth minerals mining, China reportedly controlled 95% of production in 2013.

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Answered by ryts
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Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef or placer deposit. These deposits form a mineralized package that is of economic interest to the miner.
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