The mining industry can be attributed as the foundation of all industries since it provides raw material to other dependent sectors. The mining industry includes extracting valuable minerals like metals and geological materials like coal and petroleum products, refining, and marketing them. Rare earth metals are primarily used in the technology industry. On the other hand, coal remains one of the most significant energy resources.
According to the Mining Global Market Report 2021, the largest contributor to the mining industry in the Asia Pacific region, with a 71% global share. North America follows it with a 9% global share. The most exploited commodities are iron core, coal, potash, and copper. The leading producers of coal are China, Indonesia, and India. In terms of gold mining, China is the leading country with nearly 58% of global gold production in 2020.
If we talk about countries, Australia, China, and the US are the major contributors to the mining industry and home to many notable companies. The Australian Bureau of Statistics indicates that the mining sector is responsible for 10% of Australia’s GDP between 2019 to 2020. As for the US, Statista states that the mining industry contributes 1% to the country’s GDP. Based on the revenue generation in 2020, Glencore plc (OTC: GLNCY) holds the top position with a revenue of $142.34 billion.
The coronavirus pandemic has dramatically affected the mining industry. A report by Deloitte states the main reasons to be isolated outbreaks which led to lockdowns in mining countries like South Africa, Peru, and many other. Moreover, the demand for commodities like copper, iron, and zinc remained low. A report by McKinsey reveals that from January 2020 to July 2020, the price of thermal coal has decreased by 23%. On the contrary, gold prices have increased by 19% during the same period due to increased levels of uncertainty in the global market. However, a study by MDPI reveals that the reduction in the demand for commodities is short term, the market is soon to rebound. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
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Our Methodology
We have chosen some of the biggest mining companies and arranged them according to their market capitalization in August 2021. The companies are listed according to the lowest to the highest market capitalization. For each company, we have also added their revenue posted at the end of 2020.
So, without further delay, let’s now discuss the 15 most valued mining companies in the world.
15 Most Valuable Mining Companies in the World
15. China Molybdenum Co., Ltd. (OTC: CMCLF)
Market Cap: $21.12 billion
Founded in 2006, China Molybdenum Co., Ltd. (OTCMK: CMCLF) has its headquarters in Luoyang, China. China Molybdenum Co., Ltd. (OTCMK: CMCLF) operates in the mining, smelting, refining of various metals like copper, cobalt, tungsten, niobium, and minerals like phosphates. China Molybdenum Co., Ltd. (OTCMK: CMCLF) has operations in China, Australia, Brazil, the Democratic Republic of the Congo, and Switzerland.
China Molybdenum Co., Ltd. (OTCMK: CMCLF) is not only in the mining business but also involved in the import and export of goods and services, hotel management and assets management, transportation, and logistics, to name a few. China Molybdenum Co., Ltd. (OTCMK: CMCLF) earned a revenue of $17.37 billion by the end of 2020.
14. Adani Enterprises Limited (NSE: ADANIENT.NS)
Market Cap: $21.52 billion
Adani Enterprises Limited (ADANIENT.NS) is based in Ahmedabad, India. Founded in 1988, the company is engaged in the mining of coal, oil, and gas. Apart from mining, Adani Enterprises Limited (ADANIENT.NS) also involves power generation, gas distribution, and edible oil and Argo commodities. Not only in India, but their business is also in Indonesia and Australia. Their revenue for the year 2020 remained at $5.8 billion.
13. Wheaton Precious Metals Corp. (NYSE: WPM)
Market Cap: $19.3 billion
Wheaton Precious Metals Corp. (NYSE: WPM) is a Canadian company engaged in the mining of precious metals like gold, silver, palladium, and cobalt. Through its agreement with mining assets worldwide, the company can source metals from other companies and sell them. It was established in 2004. Wheaton Precious Metals Corp. (NYSE: WPM) generated a revenue of $1.09 billion in 2020.
12. Antofagasta plc (LSE: ANTO.L)
Market Cap: $18.93 billion
Antofagasta plc (ANTO.L) is based in London, the United Kingdom. The company specializes in the mining of copper and produces copper cathodes and copper concentrates. Apart from copper products, Antofagasta plc (ANTO.L) also mines molybdenum, gold, and silver. The main mining activities are done in Chile through interests in mines like Los Pelambres (60%), Centinela mine (70%), and ZaldAvar mine (50%). The company is also engaged in the transportation industry, providing rail and road cargo to mining clients in Chile. Antofagasta plc (ANTO.L) generated a revenue of $6.99 billion in 2020.
11. Public Joint Stock Company Gazprom (OTC: OGZPY)
Market Cap: $24.71 billion
Public Joint Stock Company Gazprom (OTC: OGZPY) is a Russian mining company specializing in gold mining. Along with the extraction of gold, the company also refines and sells the gold. Public Joint Stock Company Gazprom (OTC: OGZPY) has most of its operations in regions of Russia like Irkutsk, Magadan, and Krasnoyarsk. Founded in 1921, the company holds the title of largest “gold mining company in Russia.” Public Joint Stock Company Gazprom (OTC: OGZPY) generated a revenue of $4.99 billion in 2020.
10. Franco-Nevada Corporation (NYSE: FNV)
Market Cap: $27.43 billion
Franco-Nevada Corporation (NYSE: FNV) is based in Toronto, Canada. Founded in 2007, the company focuses on mining gold in the regions of the Americas, Australia, Europe, and Africa. Apart from gold, Franco-Nevada Corporation (NYSE: FNV) also mines precious metals such as silver and platinum and energy minerals like oil, gas, and natural gas derivatives. In 2020, Franco-Nevada Corporation (NYSE: FNV) generated a revenue of $1.24 billion.
9. Anglo American Platinum Limited (JSE: AMS.JO)
Market Cap: $27.48 billion
Anglo American Platinum Limited (JSE: AMS.JO) is based in South Africa and engages in mining platinum and other precious metals like palladium, rhodium, ruthenium, gold, and osmium. Other than these metals, several base metals like copper, cobalt, and nickel are also included in the mining portfolio. The company is also involved in the sales of these metals. Anglo American Platinum Limited (JSE: AMS.JO) changed its name from Anglo Platinum Ltd. in May 2011. Founded in 1946, Anglo American Platinum Limited (JSE: AMS.JO) is the subsidiary of Anglo-American South Africa Investments Proprietary Limited. The company generated a revenue of $8.94 billion in 2020.
8. Barrick Gold Corporation (NYSE: GOLD)
Market Cap: $34.42 billion
Barrick Gold Corporation (NYSE: GOLD) is a Toronto-based mining company with business in mining, exploration, production, and sales of gold and copper. The primary gold mines are in Argentina, Canada, the Democratic Republic of Congo, the Dominican Republic, Tanzania, and the US. Moreover, Barrick Gold Corporation (NYSE: GOLD) has ownership interests for the production of copper from mines in Chile, Saudi Arabia, and Zambia. The company was founded in 1983. Barrick Gold Corporation (NYSE: GOLD) generated a revenue of 12.59 billion in 2020.
7. Zijin Mining Group Company Limited (SHA: 601899.SS)
Market Cap: $39.24 billion
Zijin Mining Group Company Limited (SHA: 601899.SS) is based in Longyan, China. The company has operations of exploration and mining of minerals in China. Zijin Mining Group Company Limited (SHA: 601899.SS) mines precious metals like gold, palladium, and platinum; primary metals such as copper, zinc, tungsten, lead, and iron ore along with tin and molybdenum. The company generated a revenue of $26.31 billion in 2020.
6. China Shenhua Energy Company Limited (SHA: 601088.SS)
Market Cap: $50.29 billion
China Shenhua Energy Company Limited (SHA: 601088.SS) is the largest state-owned coal mining company in China. Apart from mining coal, the company is also in the business of selling railway, port, and shipping transportation. The main buyers of coal from China Shenhua Energy Company Limited (SHA: 601088.SS) include power plants, coal chemical producers, and regional electric grid companies. The company was founded in 2004. In 2020, the revenue of China Shenhua Energy Company Limited (SHA: 601088.SS) remained $35.89 billion.
5. Newmont Corporation (NYSE: NEM)
Market Cap: $45.17 billion
Newmont Corporation (NYSE: NEM) is based in Colorado, United States, Other than gold, Newmont Corporation (NYSE: NEM) operates in the mining of copper, silver, zinc, and lead. Founded in 1916, the company has its operations in the Americas, Australia, and AfricaNewmont Corporation (NYSE: NEM) generated $11.5 billion in revenue in 2020.
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