The slowdown in extractive industry spending

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Report summary

Capital spending in the world’s major extractive industries has been booming since the global financial crisis. Development expenditure in upstream oil and gas and mining continued to rise in 2013, but by just 5%. Oil and gas spending slowed to around 4%, whilst bulk mining and metal mining recorded 8% and 10% increases, year-on-year. Over the next three years, we expect a plateau in capital investment as the boom dissipates, although this is from a much higher base than in 2009.

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  • Document

    Extractive industry capital spend.xls

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    The slowdown in extractive industry spending

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Table of contents

  • Executive Summary
  • Moderation in the pace of growth
  • US unconventionals to the fore in oil and gas>
  • Iron ore and copper spend peaked in 2013
  • Cost inflation slowing in some countries
    • Upstream oil and gas
    • Mining
  • The pace may be slowing, but spending will remain high

Tables and charts

This report includes 4 images and tables including:


  • Actual and planned extractive industry capital spending*, 2009-2015
  • Planned extractive industry development expenditure* in 2014
  • High level trends in upstream capital cost inflation


  • Top ten* countries by extractive industry development spending (US$ billion), 2010-2015

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