Top 10 mining companies worldwide based on revenue
The mining industry exists on a global scale. London houses some of the most prominent mining companies, including BHP Billiton and Rio Tinto Group. Coal and nonmetal minerals dominate the U.S. mining industry, while China controls most of the world’s rare earth minerals. Oil and gas extraction remains one of the most economically important sectors within mining operations (although oil and gas is often viewed as a separate industry). Based on market values in March 2015, BHP Billiton, Rio Tinto, and China Shenhua were the top three mining companies in the world. These three companies, alone account for about two-thirds of the world’s seaborne iron ore market. Rio Tinto deals primarily with aluminum, iron ore, copper, uranium, coal, and diamonds. Vale, the largest logistics operator in Brazil, produces mostly iron ore, pellets, copper, and aluminum. Glencore International of the UK tops these other companies, generating over 200 billion U.S. dollars in revenues.
Volatile prices of commodity minerals impact the profitability and propensity of the mining industry. Oil and gas extraction is still considered one of the most important types of mining operation. Smaller companies and individuals are typically involved in the exploration aspects of the industry. Large companies, such as the top mining companies in the world, tend to focus on mining production and operations to generate profit.