Mining’s Recovery Year

Mining’s Recovery Year

3.3% YEAR-ON-YEAR INCREASE - From US$880bn to US$909bn, the top 40 mining companies saw an increase in total revenues, driven by higher precious metal prices and improved operational cost management.

7 in 10 DEAL DOLLARS went to gold, silver, copper and lithium, even as overall deal volume fell 20% in 2025.

Companies with the strongest AI adoption saw a performance boost 7.2x HIGHER than their peers, through increased revenues and cost reductions.

30% EFFECTIVE TAX RATE for the top 40 miners reached 30% in 2025 from 28% the year before, with total tax expense hitting US$52bn.

NEARLY TWO IN FIVE mining employers say an inability to attract talent will hinder their digital and AI transformation efforts.

China accounts for 50%+ of production for 18 different minerals and holds significant reserve shares across many more, while also dominating global processing and refining.