Mining Quarterly Review - Q4 2024 & Full Year
Summary
GlobalData's Mining Quarterly Review - Q4 2024 & Full Year provides a comprehensive coverage on the global mining industry. It provides commodity trends covering price trends, production, capital expenditure of leading miners, development projects momentum, development projects by commodity, country, company and stage. The report also includes a demand drivers section providing information on factors that are affecting the global mining industry. It further provides updates on emissions, safety in mining, regulatory, developments in mining for Q4 2024 & Full Year, European Union’s industrial production, US’ industrial production, China’s industrial production growth rate, China's Manufacturing PMI .
While maintaining strong coal production, Indonesia is also navigating the global energy transition. This involves balancing coal output with the development of its nickel industry, crucial for EV batteries. Indonesia surpassed its 2024 coal production targets, reaching record highs to 836Mt, driven by both domestic and international demand.
In Q4 2024, Glencore recorded the highest coal production growth, significantly outpacing its competitors. Yanzhou, Coal India and China Shenhua Energy also registered growth, though at a much smaller scale. Glencore experienced a significant increase in metallurgical coal production, rising by 18.9% compared to the same period in 2023. This substantial growth was primarily attributable to the acquisition of Canadian steelmaking operations, Elk Valley Resources (EVR), in July 2024.
After 0.82% of projects in the development stages advanced in Q3 2024, the development projects momentum improved to 1.37% in Q4 2024. Some 37 projects advanced during this quarter, of which 16 were in Canada, Australia, South Africa and the US, combined.
In 2024, the world's top 18 mining companies collectively invested over $69.1B in capital expenditures. Companies’ projections for 2025 indicate a 5.1% increase to $72.7B for the same 18 miners.
Scope
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