Published on 19 Oct 2023 on Insider Monkey via Yahoo Finance
14 Largest Manganese Mining Companies and Best Manganese Stocks To Buy
In this piece, we will take a look at the 14 largest manganese mining companies and best manganese stocks to buy. For more largest manganese stocks, head over to 5 Largest Manganese Mining Companies and Best Manganese Stocks To Buy.
Manganese is one of the most important elements on Earth. For years, metals and mining companies have been digging and exploring manganese from the Earth's crust. To date, millions of tons of manganese have been explored, manufactured, and sold globally. The market size of the manganese market was more than $20 billion at the end of 2021. And the sector is anticipated to grow to at least $44 billion by the end of this decade. The reason is that there is a rising demand for steel items in the construction and infrastructure sector. According to the US Geological Survey, steel is made up of manganese.
"Although the amount of manganese used to make a ton of steel is small, it is just as essential as iron to produce this fundamental building block of modern industrial societies," the survey said. The survey also explained that US domestic consumption of manganese is roughly 500,000 metric tons each year. "As much as 90 percent of manganese consumption, both in the United States and globally, is accounted for by the steel industry," the US Geological Survey added.