The United States, Europe and Asia are making significant investments in electrification and power generation. By 2024, nearly 33% of the world`s electricity is expected to come from renewable sources. The world`s leading mining companies generate total revenues of more than $692 billion and have assets worth $1.139 trillion, according to Statista. Although they have been affected by the pandemic, these companies have continued to grow during this period, contributing to the national GDP with annual revenues. Aluminum Corporation of China, headquartered in Beijing, is one of the leading aluminum manufacturers. The Company is primarily engaged in the exploration and extraction of bauxite and coal, as well as aluminum production and power generation. China MinMetals imported $900 million worth of copper from Chile in 2019 as part of a 15-year sale agreement with a Chilean copper producer to supply electrolytic copper. The first copper delivery took place in April 2019.MinMetals, headquartered in Beijing, China, is engaged in the exploration, mining, smelting, processing and trading of metals and minerals. ArcelorMittal is a steel manufacturer based in Luxembourg with production sites in 18 countries. The company supplies products to its customers in 160 countries around the world. But rapid advances in modern society and mining technology have improved dramatically to the point that companies now have the equipment to extract minerals from above and below the surface without endangering their work or the environment as much. The degree of operational or strategic involvement and the level of participation were another central consideration. Are streaming and royalty companies that receive metals from uninvolved mining operations eligible, or are they simply specialized financing vehicles? We have included Franco Nevada, Royal Gold and Wheaton Precious Metals.
Founded in 1942, Vale is the world`s largest producer of iron ore and nickel. It currently operates in 30 countries. BHP Billiton Group maintained its supremacy throughout the year, again finishing the year in first place. The gap widened between BHP`s stock market valuation and Rio Tinto`s second-placed valuation. At the end of the year, BHP was the only company to have a triple-digit market valuation of $117.0 billion. The market capitalization of the top 25 mining companies increased by $195.86 billion in 2017 to $753.59 billion at the end of the fiscal year. Glencore Plc and Vale SA maintained their third and fourth positions respectively, with market valuations of $74.5 billion and $62.9 billion respectively at the end of the year. Coal India Ltd., which finished fifth in 2016, slipped four positions, ending 2017 in ninth place with a market capitalization of $25.5 billion. Coal India`s share price had been turbulent in 2017 and profit attributable to shareholders fell to Rs 3.69 billion in the second quarter of fiscal 2018, from a profit of Rs 6.13 billion last year. Newmont Mining (NYSE: NEM) is the world`s largest gold mining company. It was founded in 1921 and has gold mines in Nevada, Colorado, Quebec, Mexico, Australia, Ghana, Peru and Argentina.
In addition to gold, Newmont extracts silver, copper, zinc and lead. The company is also committed to the fight against climate change. Recently, Newmont Mining (NYSE: NEM) invested $500 million to fight climate change and aims to reduce greenhouse gas emissions to 30% by 2030. Newmont Mining (NYSE: NEM) is headquartered in Denver and Colorado, USA. A gap of $ 57 billion separates the top 3 from the rest of the group. In fourth place is Glencore ($55 billion) with its mixed trading and mining of metals, agricultural products and oil and gas. The mining industry includes all companies responsible for the extraction and exploration of precious and non-precious metals, minerals and energy products such as coal and petroleum. Many industries around the world depend on the supply of these raw materials. Mining has always been a major driver of the global economy. According to Statista, the U.S. mining industry contributed more than 1% of the national GDP in 2020. In addition, Asia-Pacific remained the largest region in the global mining market in the same year, followed by North America, which accounted for 71% and 9% of the global mining market share, respectively.
Founded in 1885, BHP is one of the world`s leading producers of key raw materials, including iron ore, metallurgical coal and copper. Agnico Eagle has been in business since 1957. This Canadian company is a gold producer with operations in Finland, Canada and Mexico, as well as exploration activities in each of these countries, including the United States and Sweden. It is saving its place as one of the world`s leading mining companies, as its gold reserves now stand at 21.6 million ounces with 85,000 tons of copper. Agnico Eagle Mines Limited (NYSE: AEM) produced a record 1,782,147 ounces of gold and 4.3 million ounces of silver in 2019. Zijin Mining is a Chinese company engaged in the exploration and extraction of gold, copper, zinc and other metallic mineral resources. The company was founded in 1986 and is headquartered in Longyan, China. Zijin Mining operates in more than 12 countries and 14 provinces of the People`s Republic of China. In addition, it is one of the Chinese companies that has the largest volume of metal resources.
It is ranked as the 398th largest publicly traded company on Forbes Global 2000. Like Nutrien Ltd. (NYSE: NTR), Franco-Nevada Corporation (NYSE: FNV), Wheaton Precious Metals Corp. (NYSE: WPM) and Albemarle Corporation (NYSE: ALB), Zijin is one of the world`s leading mining companies. The mining industry is made up of companies that research and extract precious and non-precious metals and minerals, as well as energy products such as coal and oil. They are used in the manufacture of a wide range of industrial products, capital goods and consumer goods such as machinery, computers, clothing, buildings and automobiles. Some companies in the mining sector even produce agricultural raw materials. Mining is a global industry, but five of the largest companies are headquartered in China, the world`s second-largest economy. Other major mining companies are based in the UK, Switzerland, Australia and Brazil. Australia, China and the United States make the largest contributions to the global mining industry.
Some of the major mining companies are headquartered in these countries. In Australia, mining remains the most important sector. The Australian Bureau of Statistics (ABS) claims that this sector was responsible for more than 10% of the country`s GDP between 2019 and 2020. In addition, mineral exploration increased 2.5% to $718 million in 2020. Mining giants such as BHP Group (NYSE: BHP) and Rio Tinto Group (NYSE: RIO) are headquartered in Australia. China and the United States are the largest gold producers in the world. With companies like Zijin Mining and Hunan Gold Corporation, China produces more than 13% of the world`s gold. On the other hand, the data suggests that the U.S.
is expected to have about 3,000 tons of gold reserves in mines in 2020. Let`s take a look at the top 20 mining companies in the world. Our ranking is based on market capitalizations and annual sales. Technology has always played an important role in industrial mining. Using dynamite instead of a hammer and hammer to clear the tunnels made the process faster and easier for miners. Today, the use of artificial intelligence, 3D modeling techniques, drones and automated devices are the main drivers of this digital revolution. Many mining operations have worked with technology companies to develop solutions for the use of underground wireless networks. According to the Smart Mining Market Report, the global smart mining market was valued at $8 billion in 2020 and is expected to reach $24.2 billion by 2026. Canada`s Dundee Precious Metals is one of the first mining companies to introduce wireless networking technology into an underground mine. Major projects completed during the year included the second phase of jiangxi Copper (Guangzhou) Copper Products Company`s 350,000-ton-per-year (tpa) copper bar project and the Dexing 5 copper mine tailings pond project.
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