In 2023, the mining industry's leading 40 companies had a total revenue of approximately 845 billion U.S. dollars, including trading revenues. In 2024, it is forecast a revenue of 792 billion U.S. dollars. As of 2024, Glencore was the world's leading mining company based on revenue.
Profitability of the global mining industry
While global mining industry revenues remain substantial, mining companies have faced ongoing profitability challenges. The net profit of the world’s top 40 mining companies fell to approximately 90 billion U.S. dollars in 2023, down from nearly 160 billion U.S. dollars the during the previous two years. This decline is mirrored in the leading global mining companies’ net profit margin, which stood at 11 percent in 2023, a significant decrease from the 27 percent margin recorded in 2006. These figures underscore the industry's vulnerability to market fluctuations and operational costs.
Global mining companies’ operational expenses
The mining industry's revenue decline comes amid gradually rising operational expenses. In 2023, the world’s 40 leading mining companies reported operating expenses of 628 billion U.S. dollars, up from 619 billion U.S. dollars the previous year. Furthermore, back in 2020, global mining companies' operational expenses amounted to less than 500 billion U.S. dollars.
Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024
(in billion U.S. dollars)
Top 40 mining companies; total figures include trading revenues.
Supplementary notes
*Forecast
This statistic includes the aggregated results of the top 40 companies by market capitalization, as reported in PwC's Mine report in each of the respective years disclosed, except for 2014, which uses the current years’ Top 40’s financial comparative financial results. These companies represent the vast majority of the industry and serve as a proxy for the industry as a whole. All income statement data presented excludes Glencore marketing and trading revenue and costs. This statistic was assembled using various editions of the report.
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PwC. (June 27, 2024). Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/
PwC. "Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024 (in billion U.S. dollars)." Chart. June 27, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/
PwC. (2024). Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/
PwC. "Revenue of The Leading Mining Companies Worldwide from 2005 to 2023, with a Forecast for 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 27 Jun 2024, https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/
PwC, Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/ (last visited December 22, 2024)
Revenue of the leading mining companies worldwide from 2005 to 2023, with a forecast for 2024 (in billion U.S. dollars) [Graph], PwC, June 27, 2024. [Online]. Available: https://www.statista.com/statistics/208715/total-revenue-of-the-top-mining-companies/
