After peaking in 2012 at US$130 billion, Wood Mackenzie's estimate of global corporate capital expenditure across the main mining and metals commodities has slumped by more than 60%, to only US$48 billion in 2016. Iron ore and coal have seen the biggest reductions and the outlook for the bulks remains very subdued out to 2019. But future capital investment in copper and gold has the potential to rebound strongly, with combined expenditure from new copper and gold projects in 2019 of US$44 billion – a similar level to the 2012 high. Zinc and lead also shows a rise in expenditure in 2018-19, flowing from new projects being slated on the back of a supply shortage and improved price outlook. More than half of potential 2019 global mining capex in our dataset comes from just five countries: Chile, the US , Canada, Australia and Peru.
This report includes 2 file(s)
Global mining capex spend: winners and losers PDF - 264.50 KB 4 Pages, 2 Tables, 4 Figures
Global mining expansion capex.xls XLS - 148.50 KB
This Metals Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.
For industry participants and advisors who want to look at the trends, risks and issues surrounding this topic, this report gives you an expert point of view to help inform your decision making.
Our analysts are based in the markets they analyse and work with high-quality proprietary data to provide consistent and reliable insight.
We provide unique in-depth analysis of the metals supply industry so you can make confident strategic decisions.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
Having Wood Mac analysis is table-stakes. Others are nice to have.
Analyst Metal Mining Producer
Wood Mac has the highest quality data and is demanded by our staff.
Portfolio Manager Integrated Oil Company
Others can provide data but we value the quality of the Wood Mac analysis above other sources.
As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
Insight | Aug 2016
Global mining capex spend: winners and losers
Have questions? Just let us know how to contact you and we will respond to you as soon as possible.