Mining Industry Overview, Stats & Trends in 2021

Open mine with trucks, mining industry overview Despite the Covid-19 pandemic and an increasing concern about carbon emissions and eco-friendliness, the mining industry was one of the best performers in the last year.

To help you analyze the market situation and current trends, we’ve collected the most crucial data about the industry from various recent and trustworthy research institutes.

Learn everything you need to know about the mining industry from our market overview.

Mining Industry

The mining industry relates to extracting various minerals and metals from the ground, either on the surface of the Earth or underground.

Extracted gold and silver are commonly used to make jewelry or other precious goods. Numerous metals and minerals are also crucial in the production of various products you cannot imagine your life without.

Copper is used in motors and electrical generators, radiators, air conditioners, radios, and TVs as a good electricity and heat conductor. 

Iron ore is used to produce steel. Aluminum is used in cans, foils, airplane parts, ships, kitchen utensils, power lines, and consumer electronics.

Despite the move towards green energy in many countries, coal still accounts for about 40% of electricity produced around the world, thanks to its low cost. The real power capacity nearly doubled since the year 2000.

With constantly increasing consumption, the mining industry is projected to grow further for many years and decades. 

Let’s look through the current situation and trends in the mining industry based on various market researches.

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Mining Industry Today

The largest mining companies and the mining industry, in general, have shown very impressive financial results in 2020 even despite the Coronavirus pandemic and its economic effects.

Covid-19 crisis with its unclear duration, number of infected people, and numerous restrictions gave new challenges to the mining industry at the same time being a catalyst for a global change in their long-term strategies.

Some of the most crucial issues for the companies in the mining industry are the safety of the community, employee retention, an increased level of automation, and changing supply chains.

In 2020, the net profits of the top 40 companies in the mining industry have grown by about 15%, while market capitalization grew by almost 2/3 reaching historically record-high levels.

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Based on the revenue of the top 40 mining companies in 2020, China and Australia, followed by South Africa, Switzerland, Brazil, the USA, and Canada accordingly are the largest mining markets for today.

Copper, iron ore, coal, gold, aluminum, platinum, and palladium were the main metals and minerals extracted in 2020 and 2019.

You can see the data from the PwC report in a more visual form below:

Mining industry revenue statistics 2021 Source: pwc.com

According to the PwC, the mining industry market capitalization grew by 64% reaching about $1.46 trillion USD with a revenue of around $545 billion USD, and a net profit of 70 billion US dollars.

The industry, in general, cannot be regarded as a ‘green’ and clean one, but the increasing demand for eco-friendly solutions reshapes the mining market segment as well. Lately, companies that have implemented or focused on greener and more sustainable solutions have done the best in terms of revenue and growth.

Below, you can see the financial performance trends of the largest mining companies that have focused on environmental, social, and governance (ESG) issues.

Importance of eco-friendlieness in mining companies, chart

Source: pwc.com

Largest Mining Companies

Currently, the list of the largest mining companies by market capitalization looks the following way:

  • BHP Group (Australia) worth 137,7 billion US Dollars; 
  • Rio Tinto (Australia) worth 117.4 billion USD; 
  • Vale (Brazil) worth 70,6 billion USD; 
  • Glencore (Switzerland) worth 63,4 billion USD;
  • Anglo American (United Kingdom) worth 48.3 billion USD
  • Freeport-McMoran (United States) worth 47.88 billion USD
  • Norilsk Nickel (Russia) worth 47.5 billion USD
  • Southern Copper (United States) worth 43.4 billion USD
  • Newmont Goldcorp (United States) worth 43.4 billion USD
  • Zijin Mining (China) worth 41.2 billion USD
  • Nutrien (Canada) worth 36.8 billion USD
  • Fortescue Metals (Australia) worth 33.3 billion USD
  • Barrick Gold (Canada) worth 32 billion USD
  • Ma’aden (Saudi Arabia) worth 25.7 billion USD
  • Albemarle (United States) worth 25.6 billion USD
  • China Northern Rare Earth (China) worth 24.9 billion USD
  • Franco-Nevada (Canada) worth 24.7 billion USD
  • Anglo-American Platinum (South Africa) worth 23.3 billion USD
  • Tianqi Lithium (China) worth 23.3 billion USD
  • Polyus (Russia) worth 22.4 billion USD

You can find the list of the 50 largest mining companies in this overview from mining.com:

List of the largest mining companies by market capitalization and revenue Source: mining.com

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Mining Market Trends

According to Deloitte, some of the main current trends in the mining industry influenced by new technologies, ecology concerns and Coronavirus pandemic are following: 

  • Agile supply chain; 
  • Focus on ESG solutions and making them competitive advantages; 
  • Minimizing carbon emissions; 
  • Meeting demand for critical and green minerals;
  • Moving towards integrated operations; 
  • Working on decarbonization; 
  • Building resilience during volatile times; 
  • Trying to overcome the deficit for social trust.

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US Mining Industry 

We can see a similar picture in the mining industry in the US.

In the US, the mining industry has been growing at an average rate of 3.3% per year from 2016 to 2021.

The mining industry market size is expected to grow by 29.2% in 2021, and it has been overperforming most other industries in the US.

Currently, 98 423 businesses hiring over 600 000 employees work in the US mining industry.

Conclusion

This was an overview of the main data and trends of the mining industry around the world and in the US. 

Despite all the difficulties, the industries continue growing faster than many others. 

If you want to use this opportunity to sell your products or services, just contact us for custom mining industry mailing lists!

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