Metals are a class of elements characterized by their strength, malleability (to be shaped), ductility (to stretch, bend, or spread), and ability to conduct electricity and heat. Metals are about two-thirds of all the elements and about 24% of the mass of planet Earth. The most used Metals in societies today are iron, steel, copper, gold, silver, bronze, brass, aluminum, titanium, and lead. Metals have two classifications: ferrous and non-ferrous. Ferrous metals are any metal that contains iron, while non-ferrous metals do not. Metals are typically a combination of pure metal and other elements that form mixed metals or alloys. Alloys exhibit enhanced properties such as increased strength, improved resistance to corrosion, or tailored characteristics for specific products or applications. An example of an alloy is carbon steel, which is an iron alloy made with some carbon. The carbon in carbon steel makes the iron harder, but it also makes it less malleable. An excessive addition of carbon will make the iron brittle. Too much or too little of an added element can change the composition of a metal, which can be better or worse depending on the product or application. There are also different bonds that occur with metals, such as metallic bonds (two metal atoms bonding) or ionic bonds (metal and non-metal atoms bonding), that change the composition of a metal as well.
Metals have been an integral part of human civilization for the past thousands of years. Most innovations, like tools, weapons, buildings, infrastructure, and hundreds of other products, are based on a variety of metals.
Metals that are most used in society today are iron, steel, copper, aluminum, titanium, zinc, nickel, and magnesium.
Iron makes up 5% of the Earth’s crust and is found in abundance, as well as being one of the cheapest metals. Iron is also found in the human body in the form of hemoglobin (a protein in the blood). The two common types of iron are cast iron and wrought iron. The most common product composed of iron is cookware, due to its high melting point. Iron is also used in manufacturing heavy machinery frames and bases because of its ability to reduce vibrations by adding rigidity. Iron is also commonly alloyed with other elements to create steel.
Steel is the most widely used material for building infrastructure and many products for a range of industries. In 2013, the world’s raw steel production was about 1.6 billion tons, compared to the next important metal, which is aluminum, at about 47 million tons. This material is an alloy of iron and carbon (typically 98–99% iron and 1-2% carbon). Steel comes in different forms, such as carbon steel, alloy steel, stainless steel, and tool steel. Facilities, vehicles, medical equipment, and more all depend on the different forms of steel.
Copper is a mineral and element essential to our everyday lives, and the first metal used by humans. Pure copper’s most important properties are superior heat transfer, electrical conductivity, and corrosion resistance. Brasses and bronzes are the most well-known alloys of copper. Brass is mainly copper and zinc, and bronze is mainly copper with tin, aluminum, silicon, or beryllium. Copper is also a mineral that is important for personal care and medical awareness. A lack of copper in a person’s diet can lead to developing high cholesterol levels. In 2004, most copper production in the United States came from Arizona, Utah, New Mexico, Nevada, and Montana. Copper is commonly used in technologies such as wiring, cables, and electronic motors due to its conductivity characteristics. Copper is also used in plumbing systems for its antimicrobial properties.
In contrast to iron, aluminum is the most abundant non-ferrous metallic element in the Earth’s crust. Aluminum is derived from its ore, bauxite. Aluminum is easy to shape and weld, highly durable, lightweight, and corrosion-resistant, making it an excellent material for packaging. Aluminum can form alloys with almost all other metals and does not rust, but will oxidize and corrode when exposed to salt. Aluminum is used in construction for roofing, window frames, and cladding. Aluminum alloys are also used in transportation for vehicle engines and body framing. Airplanes, spacecraft, and satellites also benefit from the lightweight properties when creating panels, wings, and other structural parts. Aluminum is also found in batteries, wind turbines, and other products in renewable energy production.
Titanium, when pure, is a white metal with a low density, good strength, is corrosion-resistant, and is easily fabricated. It is also one of the more expensive metals. These characteristics are like those of aluminum, but they do have a few differences. Titanium is twice as strong than aluminum yet 60% heavier. It is also not as compromised when exposed to salt, which is why titanium is used for boats and propeller shafts that are exposed to sea water rather than aluminum. It is also used in desalination plants to convert sea water into fresh water. In the medical industry, titanium and titanium alloys are used in artificial hips, pins, dental implants, and other biological implants because titanium does not react in the human body.
Zinc is a metal that is essential to everyday life and serves multiple commercial purposes. Like iron, zinc can be found in high concentrations in red blood cells and can be used for personal care purposes. Zinc has a low melting point and can flow smoothly in its melted form, making it easy to cast and recycle. Zinc is used to coat, strengthen, and prevent rust on other metals, such as galvanized steel. The zinc alloy brass is commonly used in construction tools to resist corrosion.
Nickel is a hard, malleable, ductile, and corrosion resistant metal that is frequently used to produce stainless steel. 70% of the world’s nickel is used to produce stainless steel. About 12% of global nickel production is used for major home appliances in the form of stainless steel. 5% of global production is used in alloy form for building electronic components due to its magnetic and shielding properties. Nickel is a popular metal used for plating, specifically for burglar-proof vaults and alloying. Nickel is also used for batteries and in hybrid vehicles. Nickel is also essential for the internal parts of computers, phones, and tablets.
Magnesium is the lightest metal used as a structural material, although its use is limited due to its burning at relatively low temperatures. Magnesium is a metal that ignites upon heating in air, and is commonly used in pyrotechnics, flares, and photographic flashbulbs. Magnesium is frequently alloyed with aluminum, which makes aluminum easier to shape and weld. Magnesium-aluminum alloys are used for airplanes, missiles, and cameras due to magnesium’s strong, lightweight, and heat-sensitive properties. Magnesium is also used in Epsom salts and milk of magnesia, which are common remedies in personal and medical care.
Multiple industries depend on the production of the metals mentioned previously. Let’s take an in-depth look into the top mining businesses in their respective markets.
1. BHP Group is one of the largest companies originating from Australia that specializes in mining iron ore, copper, nickel, metallurgical coal, and potash. This company has more than 90 locations throughout Australia, Chile, the United States, and Canada. Their market cap for 2023 was $172 billion, with a revenue of $53 billion.
2. Southern Copper is a major company based in the United States that has expanded into mining, smelting, and more with operations in the United States, Mexico, and Peru. They live up to their company name by specializing in copper, zinc, and wire rod production while having one of the largest copper reserves in the world. In 2023, Southern Copper’s market cap was $66 billion and revenue was $10 billion.
3. Newmont is a prominent mining company based in the United States that specializes in producing gold, copper, silver, zinc, and lead. Newmont has operations in Africa, Australia, North and South America, and the Caribbean. In 2023, Newmont’s market cap was $47 billion and revenue was $11 billion.
4. Glencore is a major producer of metals and minerals such as iron ore, copper, cobalt, nickel, zinc, lead, and ferroalloys and a leading supplier of aluminum and alumina worldwide. They also specialize in energy production with coal, recycling end-of-life electronics, and varying types of metals. They conduct business in 35+ countries in North and South America, Africa, Europe, Asia, and Australia. In 2023, Glencore will have a market cap of $73 billion and revenue of $255 billion in 2022.
5. Rio Tinto is a leading global mining company based in the United Kingdom that operates in Australia, North America, Europe, Asia, and Africa. They specialize in decarbonizing products and producing low-carbon materials, such as diamonds, lithium, aluminum, copper, titanium dioxide, iron ore, and more. In 2023, their market cap was $120 billion, with revenue of $55 billion in 2022.
