The mining industry plays a significant role in building the world’s economy. Several key markets such as utilities, the primary metals industry, non-metallic minerals industry (glass, cement, lime), and the construction industry are highly dependent on the mining sector companies. However, mining companies are the victim of some major challenges like diminishing productivity, harsh climates, remote sites, rising energy costs, and water scarcity to name a few. Despite these challenges, the fact that the industry ended on a strong note in 2017 is raising hopes for mining companies to showcase increasing health in 2018. So, who are the top players spearheading the mining industry’s journey to growth? Here is our pick of the top five mining companies in the world:
Rio Tinto PLC
Rio Tinto PLC is an Australian-British multinational company and is one of the world’s largest metals and mining companies. They have widely adopted the latest technologies in the mining industry and are investing heavily in new mining methods that will allow them to mine deeper, longer and at a lower cost than any other large mining firm. The London-based company operates through five product groups – diamonds, minerals aluminium, copper, energy and iron ore.
Glencore is one of the most diversified natural resources and mining companies in the world. The company is based in Switzerland. Their operations consist of about 150 mining and metallurgical, oil production and agricultural assets. Glencore’s industrial and marketing activities operate in a global network of more than 90 offices located in over 50 countries. Top players in the automotive, steel, power generation, oil and food processing sectors are some of Glencore’s top customers.
Anglo Amercian is one of the leading global mining companies that is based in Johannesburg and London. It is engaged in the exploration and mining of precious base metals and ferrous metals. Their portfolio of mining businesses includes bulk commodities, including iron ore and manganese, metallurgical coal and thermal coal copper, nickel, niobium and phosphates, base metals and minerals and precious metals and minerals The company is a significant player in the mining tech revolution. They have predicted that in the next decade, some mines will be run entirely without a human presence.
Vale is a Brazilian multinational metal and mining firm. The company owns the title of the largest producer of iron ore and nickel in the world. They also produce manganese ore, ferroalloys, metallurgical and thermal coal, platinum group metals, gold, silver, copper and cobalt. Vale operates across 30 countries and employs over 76,000 people.
Barrick Gold is one of the largest gold mining companies in the world. The company also mines and explores silver, copper and nickel. American regions including Argentina, Canada, Dominican Republic, Peru and the US are some of the major contributors of the company’s gold production. Their operations are also spread across regions such as Australia, Chile, Papua New Guinea, Saudi Arabia and Zambia.