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Mining Report 2018 by PwC

A remarkable year for the world’s Top 40 miners

  • Market cap $926 billion up 30%
  • Revenue $600 billion up 23%
  • Gearing 31% down from 41%
  • Net debt to EBITDA improved by 38%

Source: PwC analysis

For the world’s Top 40 miners, 2017 was a remarkable year. Thanks in large measure to the continuing recovery in commodity prices, fueled by general economic growth, revenues rose dramatically by 23 per cent. At the same time, the cost saving strategies of the past few years delivered, with margins and cash generating ability improved as well, leading to a sharp increase in profits.

Capital expenditures remained flat. With liquidity concerns that were still lingering in 2016 mostly resolved and balance sheets strengthened, companies have the flexibility to act. Across the board, a heightened focus on safety in operations, reducing leverage, and avoiding aggressive investments in new capacity indicates that management is proceeding in a measured and deliberate way.

Download the Full Report:

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Top 40 Mining Companies of 2017

The global Top 40 mining companies by market cap.

Rank Name Country Commodity
1 BHP Billiton Limited Australia/UK Diversified
2 Rio Tinto Limited Australia/UK Diversified
3 Glencore plc Switzerland Diversified
4 China Shenhua Energy Company Limited China/Hong Kong Coal
5 Vale S.A. Brazil Diversified
6 MMC Norilsk Nickel Russia Nickel
7 Anglo American plc UK/South Africa Diversified
8 Freeport-McMoRan Copper & Gold Inc. United States Copper
9 Grupo México S.A.B. de C.V. Mexico Diversified
10 Coal India Limited India Coal
11 China Molybdenum Co. Limited China/Hong Kong Diversified
12 Newmont Mining Corporation United States Gold
13 Potash Corporation of Saskatchewan Canada Potash
14 Barrick Gold Corporation Canada Gold
15 Saudi Arabian Mining Company (Ma’aden) Saudi Arabia Diversified
16 Teck Resources Limited Canada Diversified
17 Zijin Mining Group Co. Ltd China/Hong Kong Diversified
18 Fresnillo plc Mexico Diversified
19 South32 Limited Australia Diversified
20 Newcrest Mining Limited Australia Gold
21 Antofagasta plc UK Copper
22 Sumitomo Metal Mining Company Japan Diversified
23 Shaanxi Coal Industry China/Hong Kong Coal
24 Fortescue Metals Group Limited Australia Iron Ore
25 Goldcorp Inc. Canada Gold
26 Agnico-Eagle Mines Ltd Canada Gold
27 Polyus Gold International Limited UK Gold
28 The Mosaic Company United States Potash
29 China Coal Energy Company Limited China/Hong Kong Coal
30 First Quantum Minerals Limited Canada Copper
31 ALROSA Russia Diamond
32 Randgold Resources Limited Channel Islands Gold
33 Tianqi Lithium Industries, Inc. China Lithium
34 Shandong Gold Mining Company Limited China/Hong Kong Gold
35 Yanzhou Coal Mining Company Limited China/Hong Kong Coal
36 Jiangxi Copper Company Limited China/Hong Kong Copper
37 China Northern Rare Earth (Group) High-Tech Co. Limited China Rare Earth
38 NMDC Limited India Iron Ore
39 KGHM Polska Miedz Spólka Akcyjna Poland Copper
40 KAZ Minerals plc UK Copper


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Upcoming National and International Mining Events

Review the noticeable swing to new themes focused on digitization, sustainability and social responsibility. We have a series of global financial/technology events put on by Spire-Events including:

  • Toronto’s Mining Investment in North America (June 14/15), where mining company senior executives, the supply industry and governments will meet and discuss the rapidly changing disruptive edge of the industry.
  • In Vancouver also in June, the inaugural Resources for Future Generations kicks off with 1,400 papers submitted for inclusion offering 3,000 expected participants a full program on better integrating mining with society and the planet.
  • We are also in the final stages of formalizing a major mission in October called Cleantech Mining Asia 2018 that will offer participating companies major access to showcase emerging solutions to an eager industry looking for real change.

The industry is experiencing a noticeable shift in themes with both Canada and Australia leading novel topics and changing venue formats from traditional trade show venues.

Did you know that 85% of businesses that fail were not members of their industry’s trade association? Membership is very cost effective and full of expanding value.

Become a Canadian Mining Suppliers Member

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Australia Office Now Open

We are pleased to announce the appointment of Brian Wawn as Director Asia Pacific. His responsibilities include the support and development of Canadian Mining Suppliers in its plans to expand into the Australia and Asia region.

Brian also continues to operate Resources Monitor assisting companies servicing the mining, and oil & gas industries in the Australia and Asia region. Brian is a former Australian diplomat, having served extensively on Australian international missions. He has also served as a director of several companies in the construction industry in Australia and Southeast Asia. Brian is the author of the book, The Economies of the ASEAN Countries (published by Macmillan, London).

Canadian Mining Suppliers is pleased to have Brian as part of their expansion plans to further assist Canadian companies to grow their international strategies and plans.

Brian Wawn
Director Asia Pacific, Canadian Mining Suppliers
[email protected]
+61 411 478307
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Oyu Tolgoi Expression of Interest Listings

If you would like to express your interest in supplying Oyu Tolgoi, you can respond to one or more of their EOI listed on their website. EOIs help Oyu Tolgoi to understand market capability and readiness and interest from the market for potential upcoming procurement needs for goods and services.

Prior to submitting a proposal you should register as a supplier in the following link:

You can also check out Oyu Tolgoi’s Procurement Process (pdf).
Some key facts about Oyu Tolgoi underground mine:
  • 80 per cent of Oyu Tolgoi’s value lies beneath the surface
  • Mining method: Block caving
  • Operations: The mine will work 365 days a year with two 12-hour shifts.
  • At the peak of construction, the underground workforce is expected to be over 3,000 – and majority Mongolian.
  • The total conveyor length (10 km) is as long as the distance from the Chinggis Square to Tolgoit station.
  • The deepest shaft is the equivalent of 12 Blue Sky Towers in depth.
  • Total length of tunnels over the life of Hugo North Lift 1 – 200 km (mostly with a height of 5.5m and a width of 5m)
  • See a visual cross section of the underground mine (pdf)

Oyu Tolgoi Expression of Interest Listings

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Western Australia’s Lithium Mining Industry

Western Australia’s lithium deposits are making a significant impact on the growth of the Australian mining industry.

Since last year, production has commenced at three further mines in Western Australia: Mount Cattlin (Galaxy Resources), Mount Marion (Mineral Resources) and Wodgina (also Mineral Resources).

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Australian Mining – Industry Update – New South Wales

Most base-metal prices have improved over the past year including zinc (35%), lead (20%) and copper (10%), driving global interest in new projects including many in Australia. Although Coal is the single-most important mineral in New South Wales the metal mining industry is still significant with many new projects. NSW has a long history of metal mining, mainly in the central and western part of the state. Gold was first produced in the state in the early 1850s. For several decades from the 1880s, Broken Hill – which produced silver, lead and zinc – dominated mining in Australia and was a globally important supplier of these three metals.

New developments include:

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