10 Most profitable mining companies based on first-half results: 2015
2015 is shaping up to be a rough year for mining companies. The first six-months have witnessed less than stellar results, with slumping commodity prices continuing to ravage profit margins for miners. While many experts believe the second half of 2015 will tell a different story, the numbers don’t lie.
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We break down the top 10 mining companies based off of 2015’s first-half net earnings.
10. Fortescue Metals Group - $331 million
The Australian miner’s net profit for the first half of 2015 was $331 million, down 81 percent compared to the previous year of $1.7 billion.
9. Alcoa - $335 million
Alcoa’s net income of $195 million in the first-quarter of 2015, combined with $140 million in the second quarter, gives the aluminum miner a first-half total of $335 million.
8. Newmont Mining - $361 million
Gold miner Newmont Mining has raked in $361 million in the first half of 2015, compared to $210 million the previous year.
7. Southern Copper – $577.1 million
Global mining company Southern Copper reported a net income of $577.1 million in the first half of 2015, down 12.6 percent from the previous year of $660.6 million.
6. ALROSA - $714 million
Russian diamond mining company ALROSA saw revenue grow 26 percent in the first half of 2015, with net profit hitting $714 million.
5. Rio Tinto - $806 million
Weak commodities prices have caused a whirlwind of havoc for Rio Tinto as the mining giant reported net earnings of $806 million in the first-half of 2015, a significant drop from the previous year’s net income of $4.4 billion.
4. Glencore - $882 million
Commodities trader and miner Glencore reported net earnings of $882 million in the first-half of the year, falling 56 percent from the same period in 2014.
3. Anglo American - $904 million
After posting a net income of $1.46 billion in last year’s first half, Anglo American reported a disappointing $904 million for the first half of 2015.
2. Norilsk Nickel - $1.49 billion
Norilsk Nickel has done well in 2015. The world’s largest mining company of nickel posted first-half net earnings of $1.49 billion, a three percent increase from the previous year.
1. BHP Billiton - $4.26 billion
Despite claiming the number one spot, BHP Billiton’s profits fell significantly in 2015. The world’s biggest miner saw a 47.4 percent slump in the first-half of 2015, compared to the previous corresponding period, which saw profits reach more than $8.1 billion.
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