The mining sector is one of the most important industries in the world. The demand for resources, especially mined ones, is ever increasing. As a result, many mining companies are experiencing impressive growth. The top 40 mining companies in the world are leading the way. These companies, the largest 40 in the world, come from all over but none so well represented as Canada, which has 9 of the top 40 spots.
In 2010, these top mining companies increased assets to $943 billion and are expected to break the $1 trillion mark in 2011. These assets include record level amounts of cash, equipment and property. Revenue alone increased 32%, breaking the $400 billion mark for the first time and profits rose an outstanding 156% to $110 billion.
The nine Canadian companies in this group of 40, increased revenues 38% and net profit increased by a staggering 1,536% to $8.9 billion. This increase in profits is attributed to record high commodity prices, an increase in production capability and further increase in demand for resources from China.
The top 40 mining companies in the world are;
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Agnico-Eagle Mines Limited, Canada
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Anglo American PLC, UK
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AngloGold Ashanti Limited, South Africa
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Antofagasta PLC, UK
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Barrick Gold Corporation, Canada
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BHP Billiton Limited, Australia
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Cameco Corporation, Canada
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China Coal Energy Company Limited, Hong Kong
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China Shenhua Energy Company Limited, Hong Kong
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Coal India Limited, India
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Compania de Minas Buenaventura SA, Peru
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Consol Energy Inc., US
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Eurasian Natural Resources Corporation, UK
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Fortescue Metals Group Limited, Australia
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Freeport-McMoRan Copper & Gold Inc., United States
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Goldcorp Inc., Canada
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Gold Fields Limited, South Africa
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Grupo Mexico S.A. de CV, Mexico
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Impala Platinum Holdings Limited, South Africa
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Industrias Penoles S.A.B De CV, Mexico
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Ivanhoe Mines Limited, Canada
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Jiangxi Copper Company Limited, Hong Kong
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Kazakhmys Plc., UK
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KGHM Polska Miedz SA, Poland
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Kinross Gold Corporation, Canada
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MMC Norilsk Nickel, Russia
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National Mineral Development Corporation Limited, India
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Newcrest Mining Limited, Australia
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Newmont Mining Corporation, United States
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Peabody Energy Corporation, United States
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Potash Corporation of Saskatchewan Inc., Canada
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Rio Tinto plc. / Rio Tinto Limited, UK / Australia
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Shandong Gold Mining Co., Ltd, China
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Shanxi Xishan Coal and Electricity Power Company Limited, China
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Silver Wheaton Corp., Canada
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Teck Resources Limited, Canada
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The Mosaic Company, United States
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Vale SA, Brazil
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Xstrata plc., UK
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Yanzhou Coal Mining Company Ltd, Hong Kong
These numbers mean great things for other mining companies in Canada. Companies in the rare earth industry especially should be monitored closely by investors. The demand for rare earth is ever increasing, and expected to double in the next 4 years. With China being the controlling country in rare earth with over 97% of the market, and their decision to reduce exports will mean that new companies will have a wonderful opportunity. The fear of shortages and demand nearly exceeding supply is increasing the prices of rare earths making mines more financially viable than just a couple years ago.
The top mining companies in the world expect to see continued growth in both revenues and profits. New mining projects are constantly being undertaken furthering and continually solidifying Canada's position as the world's mining leader.