Top 10: World's Biggest Mining Companies
The following are the world's largest mining companies, ranked by revenue.
10 CMOC Group
Revenue: $25.68bn
Market Cap: $22.08bn
Country: China
CMOC Group mines copper, cobalt, molybdenum, tungsten, niobium, and phosphates. Its operations span China, Democratic Republic of Congo, Brazil, and Australia. The company employs approximately 11,995 people. The company is the world's largest cobalt producer, controlling about one-third of global supply. CMOC changed its name from China Molybdenum Company Limited in June 2022. In December 2023, CMOC sold its 80% stake in the Northparkes copper-gold mine in Australia to Evolution Mining.
09 Hindalco Industries
Revenue: $26.47bn
Market Cap: $18.36bn
Country: India
Hindalco Industries, based in India, is a major producer of aluminium and copper. It operates mines in Australia and employs over 40,000 people globally. The company recently acquired Aleris Corporation, expanding its presence in the aerospace and automotive sectors. Hindalco's subsidiary Novelis Inc. is a global leader in aluminium rolling and recycling. The company has invested in expanding its value-added product portfolio and enhancing its sustainability practices.
08 Anglo American
Revenue: $29.54bn
Market Cap: $38.87bn
Country: UK
Anglo American operates in 15 countries, focusing on diamonds, copper, platinum group metals, iron ore, and coal. The company employs approximately 100,000 people. In 2021, Anglo American demerged its South African thermal coal operations into a new company, Thungela Resources. The company has been investing in technology to improve operational efficiency and reduce environmental impact. Anglo American recently opened the Quellaveco copper mine in Peru.
07 Aluminum Corporation of China
Revenue: $32.00bn
Market Cap: $15.01bn
Country: China
Aluminum Corporation of China (Chalco) is China's largest alumina and primary aluminium producer. It operates bauxite mines in Guinea and employs over 65,000 people. Chalco has been expanding its overseas operations, particularly in Southeast Asia and Africa. The company has invested in upgrading its production facilities to improve efficiency and reduce emissions. Chalco recently increased its stake in the Boffa bauxite project in Guinea.
06 Zijin Mining Group
Revenue: $40.20bn
Net Income: $3.06bn
Country: China
Zijin Mining Group, headquartered in China, produces gold, copper, zinc, and other metals. It has operations in nine countries and employs over 40,000 people. Zijin recently acquired Guyana Goldfields and Continental Gold, expanding its presence in South America. The company has been investing in green mining technologies and digitalization. Zijin is developing the Čukaru Peki copper and gold mine in Serbia.
05 Vale SA
Revenue: $42.04bn
Market Cap: $45.61bn
Country: Brazil
Vale SA, based in Brazil, is a major producer of iron ore, nickel, copper, and coal. It operates in about 30 countries and employs approximately 120,000 people. Vale has been divesting non-core assets to focus on its core businesses. The company is investing in dry processing technology to reduce water usage in its operations. Vale recently sold its New Caledonia nickel operations to a consortium led by Trafigura.
04 Rio Tinto
Revenue: $53.96bn
Market Cap: $107.28bn
Country: UK
Rio Tinto mines iron ore, aluminium, copper, and diamonds. It operates in 35 countries and employs around 45,000 people. The company recently developed the Gudai-Darri iron ore mine in Western Australia, its most technologically advanced mine. Rio Tinto is investing in decarbonization initiatives and has set targets for reducing emissions. The company faced controversy over the destruction of ancient Aboriginal rock shelters at Juukan Gorge in 2020.
03 BHP Group
Revenue: $55.22bn
Market Cap: $139.73bn
Country: Australia
BHP Group produces iron ore, copper, coal, nickel, and potash. It has operations in Australia, the Americas, and Asia, employing about 80,000 people. BHP recently merged its petroleum business with Woodside Energy. The company is developing the Jansen potash project in Canada. BHP has been investing in autonomous haulage systems and renewable energy projects at its mine sites.
02 Jiangxi Copper
Revenue: $73.7bn
Market Cap: $7.03bn
Country: China
Jiangxi Copper is China's largest integrated copper producer. It operates mines in China and abroad, employing over 20,000 people. The company has been expanding its overseas investments, including projects in Afghanistan and Peru. Jiangxi Copper is investing in upgrading its smelting technology to improve efficiency and reduce emissions. The company recently increased its stake in the First Quantum Minerals copper mine in Panama.
01 Glencore
Revenue: $225.97bn
Market Cap: $65.90bn
Country: Switzerland
Glencore mines and trades copper, zinc, nickel, coal, and other commodities. It operates in 35 countries and employs approximately 135,000 people. Glencore recently acquired full ownership of the Cerrejón coal mine in Colombia. The company has been divesting some coal assets as part of its climate change strategy. Glencore is investing in cobalt production to meet growing demand from the electric vehicle industry.
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