World's 40 biggest miners situation

PwC's latest report into the performance of the world's 40 largest mining companies shows just what a watershed year 2015 was.

The management consultants' Mine 2015 report shows the top 40 companies suffering their first collective net loss in history ($27 billion), a decline in collective market capitalization of 37% (to below half a trillion dollars from a peak of $1.6 trillion in 2010), the lowest return on capital ever, asset impairments totalling $53 billion (for a total of nearly $200 billion since 2010), record high leverage of 46% and operating expenditure cuts of $83 billion.

The entries, re-entries and movements up and down the ranking also provides insight into the changing landscape of global mining.

"A lithium miner joins top ranks of listed mining firms for the first time as the price of the battery ingredient skyrockets"

The authors point out that the market capitalization threshold for attaining Top 40 status remained consistent at $4.5 billion despite "the huge decreases in value of the top mining companies, and demonstrates that the new entrants are catching up."

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