Revenues for the world’s 40 largest mining firms, measured by market capitalization, increased 3.0% last year to $731 billion. Production volumes rose 6%, but prices declined overall and operating costs grew faster than production. Emerging market companies represented 50% of the top 40 firms. Net profits for the top 40 fell 48.5% to $68 million. Excluding non-mining revenue, copper, coal and iron represented 64% of the top 40’s revenues. Iron ore revenue fell 13%, but coal and copper revenues rose. The top 40’s capital expenditures totaled $138 million in 2012, including non-mining activities, with emerging market firms representing 33% of spending. Capital expenditures for copper, coal, iron ore and gold accounted for 79% of capital expenditures in 2012, with expenditures for iron ore up 48%. This year, the top 40 are estimated to spend $110 billion on capital expenditures, with emerging market firms accounting for 40%.

Source: PwC