The Global Metals & Mining industry total revenues of $2,643.3 Bn in 2018
Numerous industries worldwide are dependent on the supply of commodities from underground like minerals and metals. The dependency of various high-tech industries on rare earth’s minerals is a recent issue such as coal, but on the other hand, it is still one of the leading global energy resources. Consequently, the mining sector is crucial to the world’s economy. The top 40 global mining companies, which represent a vast majority of the whole industry, reported some $683 Bn of revenue in 2018. The net profit margin of this industry decreased from 25% in 2010 to 10% in 2018. In terms of volume, the most used commodities worldwide are coal, iron ore, bauxite, and potash. China and the United States are the leading coal producing countries. China and therefore the US are the most important coal producing countries. China is also the third-largest producer of iron ore. Thus, China is becoming the highest mining country for several commodities, especially for the highly demanded rare earths, of which China produced over 70 percent of the global production in 2018. Additionally, China is that the world’s leading country within the mine production of gold.