The mining industry adds to the national GDP and accounts for a significant component of the global economy. According to Geological Survey data, mines in the United States produced $82.3 billion in minerals in 2020. Australia, Canada, and the United States are home to some of the world’s largest mining firms. In 2020, these countries continued to be the largest contributors to the global mining sector. The Mosaic Company, Royal Gold, Inc., and Freeport-McMoRan. Covid-19 triggered the shutdown of mining operations all over the world. Many commodities have seen their prices fall as a result of this. The mining industry is responsible for 28% of worldwide greenhouse gas emissions. Despite its numerous issues, the mining industry is on the mend. According to the Mining Global Market Report 2021, the industry is predicted to grow at a CAGR of 12.4%, reaching $1,845 billion in 2021. To cut power costs, several of the world’s top mining corporations are switching to renewable energy.
Insider Monkey highlights the list of the 15 largest mining companies by market cap. Hecla Mining Company is a gold, silver, and other precious metals miner that produces about a third of all silver in the United States. It also has the largest reserve and resources in the United States. The corporation operates mines in Alaska, Idaho, and Quebec that are now operational. Royal Gold, Inc. is a significant precious metal royalty and stream company. Royal Resources Corporation, an oil and gas exploration and production business, was created in 1981. When oil prices fell in 1986, the firm turned its focus to gold. The Mosaic Company is one of the most valuable mining firms in terms of market capitalization. It mines phosphate and potash and is based in Tampa, Florida. The corporation made $8.7 billion in revenue according to the 2020 Annual Reports. Agnico Eagle Mines is based in Toronto, Canada, and was founded in 1953. It is one of the most valuable mining firms in terms of market capitalization. The flagship LaRonde mine is North America’s deepest gold mine. Canada, Finland, and Mexico are among the company’s locations. Albemarle Corporation is a chemical corporation that specializes in specialty chemicals. The corporation is a major producer of lithium, bromine, and catalyst solutions around the world. It is the world’s largest lithium supplier for electric vehicle batteries. Wheaton Precious Metals Corp. is a multibillion-dollar precious metal streaming company. It has agreements to buy all of the precious metals and cobalt production from 23 high-quality operating mines. Wheaton Precious Metals is ranked 10th in terms of market capitalization among the world’s major mining firms. Franco-Nevada Corporation is another royalty firm established in Canada. It owns gold mining royalties and streams, as well as other commodities and natural resource investments. The firm does not operate mines or perform exploration, but it does manage and expand its royalty portfolio. For more details, click 15 Largest Mining Companies by Market Cap.
