Daily Archives: June 7, 2017
- Profitability restored – aggregate net profit of $20 billion
- Balance sheets bolstered with increased debt repayments
- Market capitalisation of the Top 40 increased by 45 percent to $714 billion
- But, capex down 41 per cent to a record low of $50 billion, and exploration budgets reduced to a mere $7.2 billion
According to PwC’s Mine 2017 report (www.PwC.com), the world’s Top 40 miners recovered from a race to the bottom, with bolstered balance sheets and a return to profitability in 2016, giving them much-needed space to pause and draw breath.