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Nov 24, 2020

Top mid-tier miners driving recovery

Top mid-tier miners driving recovery

Australia’s top 50 mid-tier miners have kept a steady course in terms of revenue over the past year despite the COVID-19 pandemic and could hold the key to resourcing Australia’s recovery, PwC says.

The company’s Aussie Mine 2020 report provides industry and financial analysis on the mid-tier mining sector – covering the 50 largest ASX mining companies with a market capitalisation of less than $5 billion.

The latest report paints the MT50 as a story of two groups. The first includes producers of gold and iron ore, which have benefited from a significant
increase in commodity prices and high demand.

The second group, featuring commodities such as coal and copper, has not enjoyed these benefits. At the same time, this second group has suffered higher costs incurred while managing operations during COVID-19.

“On balance, the MT50 has maintained their strong position from last year, and we’ve seen a greater depth within the mid-tier sector, together with a
number of explorers joining the cohort,” PwC says.

Collectively, the MT50 holds significant influence – employing a global workforce in excess of 50,000 people and with a market capitalisation of
approximately $61 billion.

Gold miners represent the largest commodity group in the MT50, comprising 44 per cent by number in 2020.

However, MT50 coal companies contribute the largest share of
revenue ($11.4 billion or 35 per cent of the MT50).

Despite this, only four coal miners remain in the MT50 list this year, down from six in 2019, and coal comprises just 10 per cent of the total market
capitalisation (down from 22 per cent).

Below is the full list of company’s that made PwC’s MT50 including their market capitalisation at June 30 this year:

  • 1 Alumina Limited ($4,679m)
  • 2 Mineral Resources ($3,976m)
  • 3 Iluka Resources ($3,606m)
  • 4 OZ Minerals ($3,553m)
  • 5 Alacer Gold Corp ($2,929m)
  • 6 IGO Limited ($2,877m)
  • 7 Yancoal Australia ($2,680m)
  • 8 Regis Resources ($2,653m)
  • 9 St Barbara ($2,215m)
  • 10 OceanaGold Corporation ($2,094m)
  • 11 Silver Lake Resources ($1,874m)
  • 12 Ramelius Resources ($1,604m)
  • 13 Perseus Mining ($1,530m)
  • 14 Gold Road Resources ($1,469m)
  • 15 Whitehaven Coal ($1,419m)
  • 16 Lynas Corporation ($1,353m)
  • 17 Champion Iron ($1,352m)
  • 18 Nickel Mines ($1,256m)
  • 19 Resolute Mining ($1,252m)
  • 20 New Hope Corporation ($1,135m)
  • 21 Zimplats Holdings ($1,118m)
  • 22 De Grey Mining ($1,061m)
  • 23 Sandfire Resources ($904m)
  • 24 Coronado Global Resources ($894m)
  • 25 Westgold Resources ($836m)
  • 26 West African Resources ($796m)
  • 27 Bellevue Gold ($726m)
  • 28 Western Areas ($723m)
  • 29 Mount Gibson Iron ($706m)
  • 30 Alkane Resources ($699m)
  • 31 Orocobre ($640m)
  • 32 Capricorn Metals ($587m)
  • 33 Energy Resources of Australia ($572m)
  • 34 Pilbara Minerals ($556m)
  • 35 Jupiter Mines ($522m)
  • 36 Aurelia Metals ($437m)
  • 37 Red 5 ($392m)
  • 38 Tribune Resources ($382m)
  • 39 Legend Mining ($353m)
  • 40 Galaxy Resources ($317m)
  • 41 Pantoro ($312m)
  • 42 Cardinal Resources ($310m)
  • 43 Chalice Gold Mines ($302m)
  • 44 Mincor Resources ($289m)
  • 45 Grange Resources ($281m)
  • 46 Emerald Resources ($275m)
  • 47 Magnetic Resources ($270m)
  • 48 OM Holdings ($250m)
  • 49 Dacian Gold ($248m)
  • 50 Adriatic Metals ($236m).
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