The world’s largest mining companies based on revenueFor several of the past few years, the Switzerland-based Glencore has had the distinction of being the world’s leading mining company based on revenue, with the company's revenue amounting to 255.98 billion U.S. dollars in 2022. Despite recording lower revenue than Glencore, the Australian company BHP had the highest market capitalization of any mining company in the world as of March 2023, at 159 billion U.S. dollars. That year, BHP’s revenue amounted to 65.1 billion U.S. dollars. Following Glencore, Jiangxi Copper from China, BHP, Rio Tinto from the United Kingdom, and Vale from Brazil rounded out the five largest mining companies in the world based on revenue as of 2022 figures.
Mineral commodity production of the leading mining companiesMany mining companies produce a diverse range of mineral commodities to minimize suffering from volatile and unpredictable market prices of mineral commodities; these are known as diversified mining companies. In fact, Glencore, Jinagxi Copper, BHP, Rio Tinto, and Vale are all diversified mining companies. Each of companies has operations in multiple countries, with the exception of Jiangxi Copper, which only has operations in mainland China.
The range of mineral products produced by Glencore include gold and silver in addition to copper, nickel, zinc, vanadium, ferroalloys, aluminum, iron ore, and cobalt. By comparison, BHP produced 253.2 million metric tons of iron ore in 2022, which was their single most produced mineral. BHP also produces copper, lead, zinc, gold, silver, uranium, molybdenum, and coal. Rio Tinto is also a strong iron ore producer: in 2022, the company’s iron ore segment earnings of 30.9 billion U.S. dollars was its highest on a segmental basis. Additionally, Rio Tinto produces diamonds, copper, aluminum, and other minerals. Anglo American’s portfolio includes copper, platinum group metals, metallurgical and thermal coal, iron ore, manganese, nickel, polyhalite, and is the majority owner of the diamond mining company De Beers. Vale specializes in commodities such as nickel, coal, copper, iron ore and pellets, and manganese and ferro-alloys. Additionally, it is engaged in steelmaking, logistics, and energy production.
Conversely, Jiangxi Copper's operations are relatively limited compared to the world's other leading mining companies. As mainland China's leading copper miner, Jiangxi's operations are mainly focused on copper: the mining, milling, smelting, and refining of copper and copper-related products. The copper-related products produced by Jiangxi include sulfuric acid, pyrite concentrates, electrolytic gold, and electrolytic silver.