全球采矿行业市场前景及投资研究报告-培训课件外文版2024.5

INDUSTRIES

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MARKETSMiningindustryworldwideCHAPTER

01OverviewRevenueoftheleadingminingcompaniesworldwidefrom2005to2022(inbillionU.S.dollars)Combinedrevenueofthetopminingcompanies2005-20221,00090080070060050094392573171671969069268365660053949643540030020010003493253122492222005200620072008200920102011201220132014201520162017201820192020202120223Description:In2022,theminingindustry'sleading40companieshadatotalrevenueofapproximately943billionU.S.dollars,includingtradingrevenues.Asof2022,Glencorewastheworld'sleadingminingcompanybasedonrevenue.

ReadmoreNote(s):Worldwide;2005to2022;Top40miningcompanies;totalfiguresincludetradingrevenues.Source(s):PwCNetprofitoftheleadingminingcompaniesworldwidefrom2002to2022,withaforecastfor2023(inbillionU.S.dollars)Netprofitofthetopminingcompanies2002-20232001501591531331231101005008070686666616157494545282019126-272002

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2023*-504Description:In2022,thenetprofitofthe40leadingcompaniesintheglobalminingindustrywasapproximately153billionU.S.dollars,adecreasewhencomparedtothepreviousyearwhereinthenetprofitwasaround159billionU.S.dollars.

ReadmoreNote(s):Worldwide;2002to2022;Top40miningcompanies;*Forecast.Thisstatisticincludestheaggregatedresultsofthetop40companiesbymarketcapitalization,asreportedinthesource'sminereportineachoftherespectiveyears[...]

ReadmoreSource(s):PwCYear-over-yearminingexplorationspendingincreaseworldwidein2021*byselectcountry(inmillionU.S.dollars)Miningexplorationbudgetsincreaseworldwidebycountry2021ExplorationbudgetinmillionU.S.dollars300

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5000100200600700800800.5900CanadaAustraliaUnitedStatesChina531.3345.2183.9Mexico172.1Russia101.990.180.172.168.8ChileBrazilArgentinaPeru5Description:Canadahadtheworld'slargestminingexplorationbudgetincreasein2021comparedto2020,withanincreaseofnearly801millionU.S.dollars.InsecondplaceatthattimewasAustralia,withabudgetincreaseofover530millionU.S.dollarscomparedtothepreviousyear.ReadmoreNote(s):Worldwide;asofSeptember25,2021;*Increaseinminingexplorationbudgetsin2021comparedto2020.ReadmoreSource(s):S&PGlobalMarketIntelligenceLeadingcountriesworldwidebasedonnaturalresourcevalueasof2021(intrillionU.S.dollars)Globalnaturalresourcevalueleadingcountries2021ValueintrillionU.S.dollars10020304050607080Russia(coal,naturalgas,oil,gold,timber,rareearthmetals)75UnitedStates(coal,timber,naturalgas,gold,copper)SaudiArabia(oil,timber)4534.433.2Canada(oil,uranium,timber,naturalgas,phosphate)Iran(oil,naturalgas)*27.3China(coal,rareearthmetals,timber)23Brazil(gold,uranium,iron,timber,oil)21.8Australia(coal,timber,copper,ironore,gold,uranium)Iraq(oil,phosphaterock)*19.915.914.3Venezuela(iron,naturalgas,oil)India(coal,bauxite,chromite,diamonds,limestone,naturalgas,titanium)0.116Description:Asof2021,Russiaheldnaturalresourcesamountingtoanestimatedtotalvalueof75trillionU.S.dollars.ThisfigureincludesthevalueofRussia`smanyvaluablenaturalresources,whichincludescoal,oil,naturalgas,gold,timber,andrareearthmetals,amongothers.ReadmoreNote(s):WorldwideSource(s):Investopedia;WorldAtlasRevenuedistributionoftheleadingminingcompaniesworldwidefrom2020to2021,withaforecastfor2022bycommodity(inpercent)Commodityrevenueshareofleadingminingcompaniesworldwide2020-2022CopperIronoreCoalGoldOthercriticalmineralsOthers120%100%80%60%40%20%0%13%12%17%8%8%9%11%10%16%23%21%31%16%17%20%24%22%22%202020212022*7Description:Intheyears2020and2021,copperaccountedforthelargestrevenueshareofanymineralcommodityfortheleading40miningcompaniesworldwide,at22percentin2020and24percentin2021.Itisforecasttoaccountfor22percentin2022.In2020and2021,ironorewasthenextlargestrevenue-generatingmineralcommodityforminingcompanies,at20percentofrevenuein2020and21percentin2021.

ReadmoreNote(s):Worldwide;2020and2021;Thedatacorrespondstotherevenuesharefromdifferentmineralcommoditiesreportedbytheleading40miningcompaniesworldwidebasedonrevenue.;*Forecast.Percentagesmaynottotal100forsome[...]

ReadmoreSource(s):PwCPricegrowthofselectedmineralcommoditiesworldwidefromH12019toH12023(inpercent)Mineralcommoditypricegrowthworldwide2019-2023,bytypePricegrowth150%0%50%100%200%250%300%350%400%Lithiumcarbonate336%Newcastlethermalcoal137%Nickel97%SilverUSHRCdomesticsteelGold54%48%48%41%32%CopperMetallurgicalcoal(Australia)Ironore30%28%AluminumPlatinum21%ChinaHRCexportsteelLead21%21%8Description:Whencomparingglobalmineralcommoditypricesinthefirsthalfof2023(H12023)versusH12019,theoverallpricesofmanyprominentmineralcommoditiesincreasedsignificantly.Mostsignificantlyduringthattimeframe,thepriceoflithiumcarbonateincreasedbymorethan300percent.Thepricesforcobaltandpalladium,however,onlyincreasedbysevenpercentoverthattimeframe.

ReadmoreNote(s):Worldwide;H12019toH12023Source(s):EY;Refinitiv(Eikon);S&PCapitalIQDeepestopen-pitminesworldwide(inmeters)Largestglobalopen-pitminesbydepthMine

name,

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established)BinghamCanyon,U.S.(1906)Chuquicamata,Chile(1910)Escondida,Chile(1990)Depth1200850Width4000300039002000350032003000525Udachny,Russia(1971)630Muruntau,Uzbekistan(1967)FimistonOpenPit*,Australia(1989)Grasberg,Indonesia(1990)6006005509Description:Asof2023,theBinghamCanyonmineinUtah,UnitedStates,wasthedeepestopen-pitmineintheworld,withadepthofmorethan1.2kilometers.BinghamCanyonwasestablishedin1906asacoppermine,andistheworld'slargestexcavationmadebyhumans.ReadmoreNote(s):Worldwide;2023;*FimistonOpenPitisalsoknownasSuperPit.ReadmoreSource(s):Varioussources(iseekplant)CHAPTER

02MajorcommoditiesProductionvolumeofselectedleadingmineralcommoditiesworldwidein2022(in1,000metrictons)Globalproductionvolumeofleadingmineralcommodities2022Productionvolumeinthousandmetrictons1,000,000

1,500,0000500,0002,000,0002,500,0003,000,000Ironore*Potash2,600,00040,00022,0008,8004,5003,300300Copper**SiliconLeadNickelRareearthsLithium***Diamonds****Silver1304626Gold3.1Platinum0.1911Description:Ironorewasoneofthemostproducedmineralcommoditiesbasedonvolumegloballyin2022,asitsproductionstoodatapproximately2.6billionmetrictons.Ontheotherendofthevolumescale,theglobalproductionofplatinumin2022stoodatroughly190metrictons,asonlyahandfulofcountriesproducethiscommodityonalargescale.Becausethequantitiesavailableandthequantitiesrequiredfortheendusesofeachmineralcommodityvarysomuch,thesestarkdifferencesin[...]

ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyLeadinghardcoalproducingcountriesworldwidein2021(inmillionmetrictons)Leadingcountriesbasedonhardcoalproduction2021Productioninmillionmetrictons1,500

2,00005001,0002,5003,0003,5004,000ChinaIndia3,771778Indonesia554UnitedStatesAustralia481433Russia359SouthAfricaRestoftheworld22944112Description:Chinaisbyfartheleadinghardcoalproducerworldwide.In2021,theeconomicpowerhousewasresponsibleforover3.77billionmetrictonsofhardcoalproduced.In2021,Chinawasalsotheleadingglobalcoalconsumer,at86.2exajoules.Hardcoalreferstoanthracite,whichhasthehighestdensityandleastvolatilematteramongallformsofcoal.Inthepastitwasthemainfuelforlocomotivesandtodayisusedprimarilyformetallurgy.Itisdifferentiatedfromsoftcoal,orbituminous[...]

ReadmoreNote(s):Worldwide;2021Source(s):BGRMajorcountriesinironoremineproductionworldwidein2022(inmillionmetrictons)Globalironoremineproduction2022,bycountryProductioninmillionmetrictons01002003004005006007008009001,000AustraliaBrazil880410China380India290Russia90UkraineSouthAfricaIran767675KazakhstanCanadaUnitedStatesSwedenPeru665846391713Description:ThemineproductionofusableironoreinAustraliareachedapproximately880millionmetrictonsin2022.Australiaisbyfartheworld'slargestironoreminingcountry.ReadmoreNote(s):Worldwide;2022;allfiguresareestimatedSource(s):USGeologicalSurveyMajorcountriesincoppermineproductionworldwidein2022(in1,000metrictons)Copperproductioninleadingcountries2022Productioninthousandmetrictons2,000

3,00001,0004,0005,0006,000ChilePeru5,2002,2002,200DRCongoChina1,900UnitedStatesRussia1,3001,000920830770740IndonesiaAustraliaZambiaMexicoKazakhstanCanada580530Poland39014/statistics/264626/copper-production-by-countryIn2022,Peruproduced2.2millionmetrictonsofcopper.Thetenleadingcountriesinworldcopperproductionasof2022wereChile,Peru,theDemocraticRepublicoftheCongo,China,theUnitedStates,Russia,Indonesia,Australia,Zambia,andMexico.ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyMajorcountriesinmineproductionofgoldworldwidein2022(inmetrictons)Goldproductionrankedbymajorcountries2022Productioninmetrictons150050100200250300350ChinaAustraliaRussia330320320Canada220UnitedStatesMexicoKazakhstanSouthAfricaPeru170120120110100100UzbekistanGhana90IndonesiaBurkinaFaso707015Description:In2022,China'sminesproducedanestimated330metrictonsofgold.Chinaisthelargestgoldproducerintheworld.ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyMajorcountriesinglobalmineproductionofplatinumin2022(inmetrictons)Globalplatinummineproduction2022,bycountryProductioninmetrictons60

8002040100120140160SouthAfricaRussia14020Zimbabwe15Canada6UnitedStatesOthercountries3.34.216Description:ThemineproductionofplatinuminRussiaamountedtoapproximately20metrictonsin2022.ReadmoreNote(s):Worldwide;2022;*Estimated.Thisstatisticwasassembledusingseveraleditionsofthereport.ReadmoreSource(s):USGeologicalSurveyMajorcountriesinworldwidelithiummineproductionin2022(inmetrictons)Leadinglithiumproducingcountriesworldwide2022ProductioninmetrictonsAustraliaChile61,00039,000China19,000ArgentinaBrazil6,2002,200ZimbabwePortugalCanada80060050017Description:In2022,Australiawastheworldleaderintermsoflithiummineproduction,withanestimatedoutputof61,000metrictons.ChileandChinarankedsecondandthird,withlithiumproductiontotaling39,000and19,000metrictons,respectively.ReadmoreNote(s):Worldwide;2022;FiguresareestimatedSource(s):USGeologicalSurveyMajorcountriesinrareearthmineproductionworldwide2022(inmetrictonsREO)Globalrareearthmineproductionbyleadingcountry2022Productioninmetrictonsofrare-earthoxide100,000

150,000050,00043,000200,000250,000China*UnitedStatesAustraliaMyanmar**Thailand210,00018,00012,0007,1004,300VietnamIndia2,9002,600RussiaMadagascar

960Restofworld

80Brazil

8018Description:In2022,Chinahadamineproductionofsome210,000metrictonsofrare-earthoxide.Chinaistheworld'slargestproducerofrareearthsbyalargemargin.TheUnitedStatesisdistantlytheworld`ssecond-largestrareearthsproducer,withanoutputofaboutone-fifththevolumeofChina.ReadmoreNote(s):Worldwide;2022;FiguresareestimatedSource(s):ArgusMedia;USGeologicalSurveyMajorcountriesinworldwideindustrialdiamondmineproductionin2022(inmillioncarats)Industrialdiamondmineproductionbymajorcountries2022Productioninmillioncarats802461012141618RussiaDRCongo1711Botswana7SouthAfricaZimbabwe64Othercountries119Description:In2022,Russianminesproducedapproximately17millioncaratsofindustrialdiamonds,makingittheworld'slargestnaturalindustrialdiamondproducerthatyear.ReadmoreNote(s):Worldwide;2022Source(s):USGeologicalSurveyCHAPTER

03FinancialsTotalassetsoftheleadingminingcompaniesworldwidefrom2005to2022(inbillionU.S.dollars)*Totalassetsofthetopminingcompanies2005-20221,4001,2001,2861,2561,2451,2311,2351,1631,1391,1391,1291,0801,0631,0471,000800600400200094380167665545437220052006200720082009201020112012201320142015201620172018201920202021202221Description:In2022,thetotalassetsoftheminingindustry's40leadingcompaniescametoapproximately1.29trillionU.S.dollars.Thiswasthehighestrecordedvalueofthetotalassetsduringtheperiodofconsideration.

ReadmoreNote(s):Worldwide;2005to2022;Top40miningcompaniesSource(s):PwCTotaloperatingexpensesofthetopminingcompaniesworldwidefrom2005to2022,withaforecastfor2023(inbillionU.S.dollars)Operatingexpensesofthetopminingcompanies2005-20238007006006706426335535545315245184874825004003002001000454448390246217208176141141200520062007200820092010201120122013201420152016201720182019202020212022

2023*22Description:In2022,the40leadingcompaniesintheminingindustryhadoperatingexpensesofapproximately670billionU.S.dollars,anincreasecomparedto633billionU.S.dollarsofoperatingexpensesreportedduringthepreviousyear.Itisforecasttogrowtosome642billionU.S.dollarsin2023.ReadmoreNote(s):Worldwide;2005to2022;Top40miningcompanies;*Forecast.Thisstatisticincludestheaggregatedresultsofthetop40companiesbymarketcapitalization,asreportedinPwC'sMinereportineachoftherespectiveyearsdisclosed,[...]

ReadmoreSource(s):PwCTotalinvestingactivitiesofthetopminingcompaniesworldwidefrom2005to2022(inbillionU.S.dollars)Investingactivitiesoftopglobalminingcompanies2005-20221801691601401201008014212612510293857974716969676356604640384020020052006200720082009201020112012201320142015201620172018201920202021202223Description:In2022,theminingindustry'sleadingcompaniesinvestedapproximately85billionU.S.dollars,anincreasecomparedwiththepreviousyear.Investingactivitiesoftheworld'sleadingminingindustrycompanieshavebeendroppingsincetheypeakedin2012atsome169billionU.S.dollars.ReadmoreNote(s):Worldwide;2005to2022;Top40miningcompaniesSource(s):PwCNetprofitmarginofthetopminingcompaniesworldwidefrom2002to2022,withaforecastfor2023Netprofitmarginofthetopminingcompanies2002-202330%27%26%25%24%25%20%15%10%5%20%17%16%16%15%15%14%13%11%11%11%10%9%7%6%6%4%0%-5%-10%-7%2002

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2023*24Description:In2011,thenetprofitmarginoftheminingindustry's40leadingcompanieswasapproximately24percent.Elevenyearslater,in2022,thenetprofitmarginstoodat16percent.ReadmoreNote(s):Worldwide;2002to2022;Top40miningcompanies;*Forecast.Thisstatisticincludestheaggregatedresultsofthetop40companiesbymarketcapitalization,asreportedinPwC'sMinereportineachoftherespectiveyearsdisclosed,[...]

ReadmoreSource(s):PwCCapitalexpenditureoftheleadingminingcompaniesworldwidefrom2017to2021,withaforecastfor2022(inbillionU.S.dollars)Capitalexpenditureoftheleadingglobalminingcompanies2017-20229082807270616160504030201005548201720182019202020212022*25Description:In2021,thecapitalexpenditure(CapEx)oftheglobalminingindustry's40leadingcompaniesamountedtoatotalof72billionU.S.dollars.Thatrepresentedan18percentincreasefromthepreviousyear.ItisforecastthattheCapExoftheworld'sleadingminingcompanieswillamountto82billionU.S.dollarsin2022.ReadmoreNote(s):Worldwide;2017to2021;top40miningcompanies;*Forecast.Thisstatisticincludestheaggregatedresultsofthetop40companiesbasedonmarketcapitalization,asreportedinthesource'sminereportineachoftherespectiveyears[...]

ReadmoreSource(s):PwCBrandvalueoftheminingindustryworldwidefrom2015to2023(inmillionU.S.dollars)Globalminingindustrybrandvalue2015-202380,00070,00074,95167,37360,00050,00040,00030,00020,00010,000056,22349,13148,70945,99046,10341,49939,91920152016201720182019202020212022202326Description:Thebrandvalueoftheminingsectorworldwideamountedtosome74.95billionU.S.dollarsasof2023.Thatwasthehighestbrandvaluethattheminingsectoreverrecorded,andwasanincreaseofoversevenbillionU.S.dollarscomparedtothepreviousyear.ReadmoreNote(s):Worldwide;2015to2023Source(s):BrandFinanceExplorationbudgetofnonferrousmineralminingworldwidefrom1996to2021(inbillionU.S.dollars)Globalnonferrousmineralminingexplorationbudget1996-202125201510501996

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202127Description:In2021,theworldwidebudgetfornonferrousmineralexplorationamountedto11.24billionU.S.dollars.Thatwasanincreaseof35percentcomparedto2020.

ReadmoreNote(s):Worldwide;1996to2021;asofSeptember25,2021.Source(s):S&PGlobalMarketIntelligenceCHAPTER

04Companies2023rankingoftheleadingminingcompaniesworldwidebasedonrevenue(inbillionU.S.dollars)2023globallistofleadingminingcompaniesbasedonrevenueRevenueinbillionU.S.dollars100050150200250300Glencore,UKJiangxiCopper,ChinaBHP,Australia/UKRioTinto,Australia/UKVale,Brazil256.0369.2860.5955.8442.7441.5340.03AluminumCorporationofChina,ChinaZijinMiningGroup,ChinaAngloAmerican,UKTataSteel,India35.1229.35Hindalco,IndiaCMOC,ChinaCleveland-Cliffs,U.S.Freeport-McMoRan,U.S.UnitedStatesSteel,U.S.JSWSteel,India26.9124.6522.3321.5720.320.0129Description:MiningcompanyGlencorewasrankedasthenumberoneminingcompanyintheworldasof2023,withanannualrevenuein2022ofapproximately256.03billionU.S.dollars.InthirdplacewasBHP.BHP`srevenuehasrecoveredinthepasttwoyearsfromaslumpinrevenuesin2016and2017.Theirprimaryfocusisonmetalsandmining.ReadmoreNote(s):Worldwide;2022and2023;onlycompanieswithminingactivitieshavebeenincludedSource(s):FinancialTimes;ThomsonReuters;Varioussources(companydata)2023rankingofgloballeadingminingcompaniesbasedonnetincome(inbillionU.S.dollars)2023listofglobaltopminingcompaniesbasedonnetincomeNetincomeinbillionU.S.dollars02468101214161820BHP(Australia/UK)Glencore,(Switzerland)Vale,(Brazil)18.3917.3214.78RioTinto(Australia/UK)Nornickel(Russia)12.536.77FortescueMetalsGroup(Australia)AngloAmerican(UK)5.844.514.02Severstal,(Russia)ZijinMiningGroup(China)GrupoMexico,(Mexico)3.323.2330Description:AustralianminingcompanyBHPwasrankedasthenumberoneminingcompanyworldwideinbasedonnetincomeasofa2023ranking.BHP'snetincomein2022amountedto18.4billionU.S.dollars.InsecondplacethatyearwastheSwissmininggiantGlencore,withanetincomeof17.3billionU.S.dollars.ReadmoreNote(s):Worldwide;2022and2023Source(s):ThomsonReuters;Varioussources(companydata)TotalrevenueofGlencorefrom2010to2022(inmillionU.S.dollars)Glencore'stotalrevenue2010-2022300,000255,984250,000200,000150,000100,00050,0000236,236232,694221,073220,524215,111205,476203,751186,152152,948147,351144,978142,3382010201120122013*20142015201620172018201920202021202231/statistics/274687/total-revenue-of-glencore-xstrataGlencoreisagloballyoperatingminingcompany,andtheworld'sleadingcommoditiestradingcompany.In2022,Glencore'sannualrevenueamountedto255.98billionU.S.dollars.Glencorehasthehighestrevenueofanyminingcompanyworldwide.ReadmoreNote(s):Worldwide;2010to2022;*CertainamountsshowninthisfigurereflecttherevisedpreviouslyreportedfairvaluesassociatedwiththeXstrataacquisitionmadein2013,andthereforedonotcorrespondtotheconsolidatedstatementof[...]

ReadmoreSource(s):GlencoreBHP'srevenuefrom2005to2023(inmillionU.S.dollars)*BHPrevenue2005-202370,00060,00050,00040,00030,00020,00010,00002005

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202332Description:ThefiscalyearendedonJune30,2023,duringwhichBHPreportedanannualrevenueofapproximately53.8billionU.S.dollars,adecreaseincomparisontothepreviousyear.

ReadmoreNote(s):Worldwide;2005to2023;*FiscalyearendedonJune30.Thisstatisticwasassembledusingseveraleditionsofthereport.ReadmoreSource(s):BHPRevenueofRioTintofrom2010to2022(inmillionU.S.dollars)RioTinto'srevenue2010-202270,00060,00050,00040,00030,00020,00010,0000201020112012201320142015201620172018201920202021202233Description:In2022,RioTinto'sgrosssalesrevenuewasaround55.6billionU.S.dollars.Thegrosssalesrevenuein2021markedthecompany'shighestgeneratedrevenuesince2011.TheRioTintoGroupisamultinationalexploration,development,production,andprocessingcorporationheadquarteredinLondon,UK.ReadmoreNote(s):Worldwide;2010to2022Source(s):RioTintoGroupRevenueofValeS.A.from2010to2022(inmillionU.S.dollars)Vale'srevenue2010-202270,00060,07560,00050,00040,00030,00020,00010,000054,50246,42443,95343,83942,98339,54537,57036,57535,12433,96727,48823,384201020112012201320142015201620172018201920202021202234Description:In2022,Valegeneratedarevenueofapproximately43.8billionU.S.dollars.ValeS.A.,formerlycalledbyfullnameCompanhiaValedoRioDoce,isaBrazilianmultinationalmetalsandminingcompanythatalsospecializesinlogisticoperations.ThecompanyisheadquarteredinRiodeJaneiro.ReadmoreNote(s):Worldwide;2010to2022Source(s):ValeDistributionoftheleadingminingcompanies'mergerandacquisitiondealsworldwidein2022,bymineralcommodityShareofM&Adealsmadebythetopminingcompaniesin2022,bycommodityOthercriticalminerals9.9%Gold34%Copper56.1%35Description:Copperaccountedfora56.1percentshareofthemergerandacquisition(M&A)dealsamongthe40leadingminingcompaniesworldwidein2022.Accordingly,itwasbyfartheleadingcommoditytobetargetedbyM&Aactivityintheglobalmin