Freeport McMoRan (NYSE: FCX) strikes to the highest spot this yr, after inserting third in 2020. The Phoenix-headquartered firm is likely one of the world’s largest publicly traded copper producers and operates a portfolio of mines within the Americas and Indonesia.
About 42% of the corporate’s copper reserves are within the U.S., 29% in South America, and 29% in Indonesia.
Within the U.S., Freeport owns seven open-pit copper mines and two molybdenum mines. It’s also creating the Lone Star copper mine in Arizona. Preliminary improvement was accomplished within the second half of 2020 and as soon as in manufacturing, Freeport expects Lone Star will produce about 200 million lb. of copper a yr.
The corporate’s South American property embody two copper mines in Peru and Chile – Cerro Verde (54%) and El Abra (51%). Along with copper, Cerro Verde produces molybdenum focus and silver. At Albra, the corporate is endeavor an growth research to evaluate processing sulphide materials.
The corporate’s Indonesian subsidiary, PT Freeport Indonesia, has a 48.76% stake within the Grasberg underground mine (an Indonesian state-owned enterprise holds the remaining 51.24%). Freeport is accelerating the ramp-up of manufacturing on the operation, with the intention of reaching 75% of nameplate capability this yr. The corporate forecasts that common annual manufacturing from the mine might be 1.55 billion lb. of copper and 1.6 million oz. of gold between 2021 and 2025.
Final yr, Freeport produced a complete of three.2 billion lb. of copper, 857,000 oz. of gold, and 76 million lb. of molybdenum. About 44% of its copper got here from the U.S., 31% was from South America, and 25% from Indonesia.
Market capitalization: $51.2 billion
Denver-headquartered Newmont (TSX: NGT; NYSE: NEM), which ranked first final yr, is in second place this yr. The corporate is likely one of the world’s largest gold producers, with operations within the Americas, Africa, and Australia.
Newmont has attributable confirmed and possible reserves of two.9 billion tonnes grading 1.03 grams gold per tonne for 94.24 million contained gold ounces. Over 90% of those reserves are in top-tier jurisdictions, based mostly on credit score company rankings.
The corporate has 9 world-class property, which it defines as gold operations producing not less than 500,000 oz. gold-equivalent yearly on a consolidated foundation, with all-in sustaining prices of beneath US$900 per oz., a mine lifetime of larger than ten years, and a median grade of 1.03 grams gold per tonne.
Newmont’s operations embody the Boddington mine in Western Australia, which is anticipated to provide over a million oz. of gold-equivalent yearly from 2021-2025, and the Penasquito open-pit mine in Mexico, forecast to churn out over 1.7 million oz. of gold-equivalent per yr over the subsequent 4 years. The Nevada Gold Mines three way partnership, by which Newmont has a 38.5% stake and Barrick Gold (TSX: ABX; NYSE: GOLD) 61.5%, is anticipated to provide 1.37 million attributable gold oz. this yr.
The corporate has set its 2021 manufacturing steering at 6.5 million oz. of gold, between 6.2 and 6.7 million oz. in 2023, and 6.5-7.0 million oz. by 2025.
In Could, Newmont acquired the remaining shares of GT Gold it didn’t already personal. The acquisition included the Tatogga gold challenge within the Golden Triangle of B.C., which it’s says has the potential to be a major gold and copper producer.
Based within the U.S. in 1921, the corporate established a Canadian presence in 2019, with its $10 billion acquisition of Goldcorp, which closed in April of that yr.
Market capitalization: $48.3 billion
Arizona-based Southern Copper (NYSE: SCCO; LSE: SCCO) is likely one of the world’s high 5 copper producers. Grupo Mexico, one of many world’s largest copper producers, is Southern Copper’s largest shareholder with an 88.91% stake.
Southern Copper produces copper, molybdenum, silver, and zinc and has mining, smelting, and refining services in Peru and Mexico. The corporate has six property in Peru: the Toquepala and Cuajone open-pit mines, the Ilo smelter, and 4 exploration stage initiatives. These operations produce copper in addition to by-products similar to molybdenum and silver.
In Mexico, it owns ten property, together with the La Caridad and Buenavista open-pit mines, which produce silver, copper, and molybdenum. The corporate additionally has 5 underground operations that produce zinc, copper, lead, and valuable metals. It additionally owns a coal mine and a zinc refinery.
The corporate’s copper concentrates are smelted to provide both blister copper or copper anodes. Each merchandise are despatched to refineries, the place the anodes are transformed into copper cathodes and, later, copper rods.
Southern Copper’s exploration efforts are centered on Argentina, Chile, Ecuador, Mexico and Peru.
Final yr, the corporate generated report manufacturing of 1 million tonnes copper, 27,441 tonnes of molybdenum, and 21.5 million oz. of silver.
Market capitalization: $19.7 billion
Louisiana-based Albemarle (NYSE: ALB) is a number one provider of specialty chemical substances and has lithium, bromine, and catalyst enterprise segments.
Albemarle’s lithium comes from photo voltaic evaporation ponds in Chile’s Salar de Atacama and in Silver Peak, Nevada. The lithium brines from Chile are processed into lithium carbonate and lithium chloride on the La Negra chemical plant in Antofagasta, Chile. The Nevada brines are processed into lithium carbonate at Silver Peak. The 2 vegetation produce a mixed whole of over 60 million tonnes of lithium-carbonate equal a yr.
This yr, the corporate plans to finish a 3rd part growth of La Negra that may see manufacturing capability of battery-grade lithium carbonate enhance to 80,000 tonnes per yr from its present capability of 39,916 tonnes per yr.
Albemarle additionally generates mined lithium by its 49% curiosity in Australia-based Talison Lithium (ASX: TLH). China’s Tianqi Lithium owns the remaining 51%.
Its bromine section generates merchandise for fireplace security and different specialty functions. Albemarle’s catalysts division produces catalysts, components, and efficiency catalyst options.
Albemarle estimates that 48% of its revenues are from Asia (together with 14% from China); 26% from its North American operations; 24% from Europe, the Center East, and Africa; and a pair of% from the remainder of the world.
Market capitalization: $11.5 billion
Mosaic (NYSE: MOS) is likely one of the world’s largest producers of concentrated phosphate and potash crop vitamins, with operations in 9 nations. The corporate operates seven potash and phosphate mines and services in Florida, Saskatchewan, and Peru, together with 5 phosphate focus websites in Louisiana and Florida.
In January 2018, Mosaic accomplished its acquisition of Vale Fertilizantes, which added 5 phosphate mines, 4 phosphate chemical vegetation, and a potash mine in Brazil to the corporate’s portfolio.
Earlier this yr, Mosaic and Sound Agriculture, a California-based life science firm that’s trying to sustainably enhance farming productiveness, fashioned a strategic partnership to carry a brand new nutrient effectivity product to market to spice up crop yields and enhance soil well being. The product is anticipated to launch within the U.S. by 2023 earlier than rolling out to markets all through the Americas, specializing in Brazil, Argentina, and Canada.
Final yr, the corporate produced 9.4 million tonnes of potash, 8.5 million tonnes of phosphates, and 10.6 million tonnes of fertilisers. This yr it expects to provide between 13.3 and 13.8 million tonnes of potash.
Market capitalization: $10.5 billion
Cleveland-headquartered Cleveland-Cliffs (NYSE: CLF) is the most important flat-rolled metal producer and the most important iron ore pellet producer in North America.
The corporate’s merchandise embody superior high-strength metal, stainless-steel, and tinplate elements, with the automotive trade accounting for 33% of all end-use demand; distributors and converters (32%); and infrastructure and manufacturing (24%).
In December, the corporate closed a $183 million acquisition of considerably all of the operations of ArcelorMittal USA LLC and its subsidiaries, together with ArcelorMittal’s 60% curiosity in I/N Tek L.P., a steady cold-rolling plant that produces sheet metal in Indiana, and a 50% stake in I/N Kote L.P., which is adjoining to the I/N Teck web site and produces hot-dipped galvanized and galvannealed metal and electrogalvanized sheet metal.
Cleveland-Cliffs just lately marked six months of manufacturing from its Toledo direct discount plant in Ohio. The plant produces hot-briquetted iron (HBI), an environmentally pleasant various to scrap and imported pig iron. The plant, which is anticipated to churn out 1.9 million tonnes of HBI yearly, would place Cliffs as the one producer of high-quality HBI metal for the electrical arc furnace metal market inside the Nice Lakes area.
The corporate has 4 producing iron mines. These embody Tilden in Michigan, and Northshore, Minorca and United Taconite in Minnesota. It additionally has an 85.3% share within the Minnesota-based Hibbing Taconite mine.
Based mostly on Cleveland-Cliffs share of possession, the mines have a mixed manufacturing capability of roughly 25.4 million tonnes of iron ore a yr. The fabric is concentrated after which pelletized for supply to steelmakers.
Market capitalization: $6.8 billion
Alcoa (NYSE: AA) has one of many world’s largest portfolios of bauxite mines and is the most important alumina producer exterior of China. Its aluminium enterprise includes smelting, casting, rolling, and power property.
Alcoa has property in 5 continents. These embody seven bauxite mines (4 of which it operates) in Australia, Brazil, Guinea, and Saudi Arabia. It additionally has six alumina refineries in Australia, Brazil, and Spain. Its three-refinery operation in Western Australia, the world’s largest single supply of alumina, provides 8% of the worldwide market. It additionally has a 25% share in a refinery that’s a part of its Ma’aden three way partnership in Saudi Arabia, in addition to aluminium property in Africa, Australia, Canada, Europe, Saudi Arabia, and the U.S.
The corporate’s bauxite and alumina companies embody Alcoa World Alumina and Chemical substances (AWAC), a three way partnership between Alcoa (60%) and Alumina Ltd. AWAC mines bauxite and different aluminium-bearing materials and refines, produces, and sells alumina-based chemical substances.
In July, Alcoa introduced that it could provide its low-carbon major aluminium, EcoLum, to WKW Extrusion’s Erbsloh Aluminium for its new model of semi-finished extrusion alloys. At about 4 tonnes of carbon dioxide equal for each tonne of aluminium produced, EcoLum has a carbon footprint roughly three and a half occasions decrease than the worldwide common, in line with Alcoa.
Final yr, Alcoa produced 48 million tonnes of bauxite, 13.5 million tonnes of alumina, and a pair of.3 million tonnes of aluminium.
Market capitalization: $6.4 billion
MP Supplies (NYSE: MP) has joined the highest ten listing for the primary time. The Las Vegas-headquartered firm owns and operates Mountain Move, the one built-in uncommon earth mining and processing facility in North America, about 24 km west of Primm in California’s Mojave Desert. The Mountain Move web site hosts the Mountain Move open-pit mine and a uncommon earth parts refining and separation facility.
MP Supplies acquired the mine out of chapter in 2017.
In keeping with the corporate, Mountain Move now provides about 15% of the world’s uncommon earth oxides, that are used within the magnets in electrical autos and wind generators.
MP Supplies is engaged on a $170 million Stage II optimization of its uncommon earth refining and separation plant. As soon as accomplished in 2022, the corporate expects the plant will produce 6,075 tonnes of neodymium-praseodymium a yr, a vital uncommon earth steel alloy.
Final yr, the corporate produced 38,503 tonnes of uncommon earth oxides, a rise of 39% from the earlier yr’s 27,620 tonnes, at a value of $1,430 per tonne of uncommon earth oxides.
Market capitalization: $4.1 billion
South Dakota-based Black Hills (NYSE: BKH) joins the highest ten listing for the primary time. The corporate operates one of many nation’s largest pure gasoline and electrical distribution techniques, with 74,030 km of pure gasoline pipelines and 14,484 km of electrical transmission and distribution traces.
Based in 1883, Black Hills now serves 1.3 million electrical and pure gasoline prospects throughout Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. The corporate has a portfolio of 16 power technology services, a few of which it wholly owns and others with shared possession. These embody 5 pure gasoline operations, 5 coal mines, 4 diesel gasoline vegetation, one pure gasoline/diesel plant, and two wind turbines.
The coal produced at its Wyodak coal mine in Wyoming is shipped on to the adjoining 90-megawatt (MW) Neil Simpson advanced. Wyodak produces between 9,979 and 10,886 tonnes of coal per day.
With roughly 180 million tonnes of coal reserves in its coal mines in Wyoming, the corporate says it could actually provide coal to those producing services by 2055 at present manufacturing ranges.
Black Hills has a 50% stake within the 29 MW Busch Ranch wind challenge in Colorado. Busch Ranch offers renewable electrical energy to 94,000 electrical energy prospects within the state.
Final yr, it accomplished building of its $79 million Corriedale wind power challenge in Wyoming. The 52.5 MW generator has 21 2.5 MW capability wind generators, and serves renewable power subscribers throughout South Dakota and Wyoming.
Market capitalization: $3.9 billion
Hecla Mining (NYSE: HL) is a silver and gold producer with operations in Canada, Mexico and the U.S. Based in 1891, the corporate is the most important silver producer within the U.S.
Along with working silver and gold mines in Alaska (Greens Creek), Idaho (Fortunate Friday), and Quebec (Casa Berardi), Hecla owns two initiatives in Montana — Montanore and Rock Creek, and 12 exploration initiatives in Colorado, Idaho, Nevada, B.C., Quebec, and Mexico.
Hecla’s 100%-owned Greens Creek underground mine is, in line with the corporate, one of many largest and lowest-cost major silver mines on this planet. Final yr, the mine churned out 10.5 million oz. silver and 48,500 oz. gold at money prices of $5.49 per oz. silver, after by-product credit.
In western Quebec, Hecla’s wholly-owned Casa Berardi underground gold mine produced 121,500 oz. gold final yr at money prices (after by-product credit) of $1,131 per oz. of gold. Casa Berardi was acquired in 2013 by Hecla’s acquisition of Aurizon Mines.
In Idaho, Hecla holds the Fortunate Friday underground operation, inside the state’s Coeur d’Alene mining district. In 2020, the mine produced two million oz. of silver at money prices of $9.34 per oz. silver. The mine has been producing silver since 1942 and Hecla says it has 20 to 30 years of mine life forward.
In 2020, Hecla produced 13.5 million oz. of silver and 208,962 oz. of gold. This yr, it expects to provide between 12.9 and 14.
(This text first appeared in The Northern Miner)