Carbon Neutral Mining Market To Reach $12.53 Billion By 2033

Carbon Neutral Mining Market Growth & Trends

The global carbon neutral mining market size is projected to reach USD 12.53 billion by 2033, growing at a CAGR of 2.9% from 2025 to 2033, according to Grand View Research, Inc. The market is experiencing consistent growth, driven by the widespread adoption of renewable energy solutions, electrified equipment fleets, and advanced emission tracking technologies. Supportive government policies, net-zero commitments from leading producers, and growing investor emphasis on ESG compliance are accelerating the transition toward more sustainable and low-emission mineral extraction practices.

The sector is undergoing a technological transformation as operators adopt innovative solutions to curb energy consumption and greenhouse gas emissions. Renewable and hybrid microgrid systems are increasingly replacing diesel-based power generation, while battery storage and electric vehicle infrastructure are improving operational efficiency, particularly in remote production zones. Low-emission fuels such as green hydrogen and biofuels are being tested as scalable alternatives for powering large mining fleets. Moreover, carbon capture, utilization, and storage (CCUS) technologies are gaining traction across metal extraction and processing plants. The use of AI-driven emission monitoring systems and automation tools is also strengthening transparency, accountability, and real-time performance optimization across mining operations.

Surface mining operations continue to account for the majority share of the carbon-neutral resources market due to their higher energy intensity and the greater opportunity for renewable power deployment. Open-pit and strip operations are increasingly integrating solar and wind power to support crushing, hauling, and processing activities. The electrification of heavy-duty machinery and conveyor systems has significantly reduced reliance on fossil fuels while improving productivity. Underground projects, on the other hand, are transitioning to hybrid ventilation and battery-electric machinery to minimize emissions in enclosed environments. Across both methods, digital optimization platforms are being used to streamline energy use and improve material recovery efficiency.

Sustainability now stands at the center of strategic decision-making across the mining value chain, with companies setting clear pathways to achieve measurable reductions in emissions. Many leading producers are aligning their operations with frameworks such as the Science-Based Targets initiative (SBTi) to validate their progress in decarbonization. The adoption of circular economy principles-such as waste heat recovery, resource recycling, and water reuse-reflects the industry’s broader commitment to environmental stewardship. Partnerships with renewable developers and governments are facilitating access to clean energy at competitive rates, while a growing focus on ethical sourcing and transparent governance reinforces long-term credibility. This structural shift toward low-emission mineral production is positioning the global mining industry as a key enabler of the sustainable economy.

 Request a free sample copy or view report summary: Carbon Neutral Mining Market Report

Carbon Neutral Mining Market Report Highlights

• North America dominated the carbon neutral mining market with a revenue share of over 34.0% in 2024, driven by strong regulatory frameworks, ESG investments, and rapid adoption of renewable and electrification technologies. The U.S. and Canada are leading the deployment of hybrid microgrids and low-carbon fuel systems across major mining sites. Ongoing government incentives and corporate sustainability goals continue to strengthen the region’s leadership in carbon-neutral mining initiatives.

• Based on technology, the renewable energy & microgrids segment dominated the market with a revenue share of over 35.0% in 2024, supported by increasing integration of solar, wind, and battery storage solutions in off-grid mining operations. These systems reduce operational costs and carbon intensity while improving energy reliability in remote locations. The shift toward renewable-powered mining infrastructure reflects the industry’s commitment to sustainable energy transition.

• In 2024, the surface mining segment held the largest share of over 65.0% of the circular economy in mining revenue, owing to its large-scale operations and high energy consumption potential for decarbonization. Surface mines are rapidly adopting renewable power systems, electrified equipment, and carbon capture technologies to minimize emissions. This segment remains a key focus area for implementing carbon-neutral strategies due to its scalability and technological adaptability.

• BHP Group Ltd, in June 2025, announced the launch of a large-scale solar and battery storage project at its Nickel West operations in Western Australia. The initiative aims to supply over 50% of the site’s electricity demand through renewable sources, significantly cutting Scope 2 emissions and supporting BHP’s goal of achieving net-zero operational emissions by 2050.

• Rio Tinto Group, in April 2025, partnered with Caterpillar Inc. to deploy a fleet of fully electric haul trucks at its Gudai-Darri iron ore mine in Australia. This milestone marks one of the world’s first large-scale implementations of battery-electric mining trucks, projected to reduce annual CO? emissions by up to 30,000 tons, reinforcing Rio Tinto’s 2030 emission reduction targets.

Carbon Neutral Mining Market Segmentation

Grand View Research has segmented the global carbon neutral mining market report based on technology, mine type, and region:

Carbon Neutral Mining Technology Outlook (Revenue, USD Million, 2021 - 2033)

• Renewable Energy & Microgrids

• Electrification of Mining Fleet & Equipment

• Energy Storage & Charging Infrastructure

• Low-Carbon Fuels

• Carbon Capture, Utilization & Storage

• Emission Monitoring & Digital Solutions

• Others

Carbon Neutral Mining Mine Type Outlook (Revenue, USD Million, 2021 - 2033)

• Surface

• Underground

• Others

Carbon Neutral Mining Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Australia

  • Brazil

• Middle East & Africa

  • South Africa

  • Iran

List of Key Players in the Carbon Neutral Mining Market

• Anglo American plc.

• BHP Group Ltd.

• Boliden AB

• Fortescue Metals Group Ltd.

• Glencore plc.

• Newmont Corporation

• Rio Tinto Group

• Sibanye-Stillwater Limited

• Teck Resources Limited

• Vale S.A