Mining, Metals & Minerals

The most exploited commodities worldwide based on production volume are coal, iron ore, bauxite, and potash. While comparing the production and consumption volume of one mineral to another does not necessarily make sense due to vastly differing end-use contexts, it is nevertheless an interesting comparison to make. In terms of revenue, iron ore and copper are the most profitable segments of many of the world's leading diversified mining companies.

The future is here, and the adoption of technology and automation in the global mining industry for enhanced safety, productivity, and cost reduction is slowly but surely occurring. With the market value of smart mining expected to exceed 34 billion U.S. dollars worldwide by 2028, the industry is evidently moving towards these new processes. Indeed, the global mining industry is expected to have an adoption rate of 75 percent for asset cyber security and 20 percent for smart sensors in 2025.

Several well-established multinational mining companies consistently lead the global mining industry based on annual revenue. The Swiss-headquartered Glencore is the world's largest mining company of all, with annual revenue amounting to 218 billion U.S. dollars in 2024. In 2020, the company's revenue hit its lowest point in a decade, to 142 billion U.S. dollars, which highlights the impact of the coronavirus pandemic on mining activity and mineral commodity prices.