Mining companies based in the greater Asian region now make up almost half of the world’s largest players according to a new industry report.
With Indonesia-based coal-mining company PT Bayan Resources now the world’s 40th largest-listed mining firm by market cap (as at 31 December 2018), the greater Asian region – including Australia and the Middle East – is currently home to almost half of the planet’s 40 biggest players, which collectively pulled in revenues of $683 billion last year according to the latest annual industry report from professional services firm PwC.
Despite growing environmental protests, the revenues at the 40 leading miners rose 8 percent last year, and have jumped significantly from the around $500 billion figure recorded in 2016 – with profits also on the up.
Measured in EBITDA terms (Earnings Before Interest, Taxes and Amortisation), profitability climbed by $11 billion to a total of $169 billion in 2018, with that number up from $91 billion less than five years ago.
Currently boasting a combined market cap of $849 billion (as at 30 April), half of the industry’s top financial performers are now based in the pan-Asian/APAC region, with two Australian-origin firms and one from China occupying three out of the top five spots: diversified giants BHP Group and Rio Tinto in at one and two, and coal-miner China Shenhua Energy at fifth. Chinese/Hong Kong companies altogether make up one quarter of the list.
For the rest of this article: https://www.consultancy.asia/news/2426/greater-asia-home-to-half-of-the-worlds-biggest-mining-companies