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The Biggest Mining Companies in the World in 2021

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biggest mining companies in the world

Ranked: The Top 20 Mining Companies

Mining companies have emerged from the COVID-19 pandemic in excellent financial and operational shape and the forecast is even brighter as the economy recovers.

The market is expected to reach a value of nearly $1.86 trillion by 2022, with the increasing demand for minerals for power generation and renewables technology.

In the graphic above, we show the world’s top companies by market capitalization as of June 22, 2021, and the metals they mine.

The Bottom Line: From Smartphones to Food

From roads, hospitals, automobiles, houses, computers, satellites, and even fertilizer for crops, mining provides many of the materials we interact with every day. Copper, iron, rare earth metals, aluminum, and phosphate are just a handful of the mined materials that make modern life and feed the bottom line for mining companies.

The two biggest by market capitalization, BHP ($179B) and Rio Tinto ($132B), both produce a range of commodities, mainly iron ore and copper. The next on the list is also the biggest company in Brazil, Vale ($112B). The miner is the world’s largest producer of iron ore and pellets (small balls of iron ore) used to manufacture steel.

CompanyMarket Cap (USD)Country Main Mining Activity
BHP$179B🇦🇺 Australia iron ore, copper, coal
Rio Tinto$132B🇦🇺 Australia iron ore, aluminum, copper
Vale$112B🇧🇷 Braziliron ore, nickel
Glencore$55B🇨🇭 Switzerlandcopper, cobalt, zinc, nickel
Norilsk Nickel$54B🇷🇺 Russiapalladium, nickel
Freeport-McMoRan$52B🇺🇸 United Statescopper
Anglo American$52B🇬🇧 United Kingdomdiamonds, copper, platinum, iron ore, coal
Fortescue Metals$51B🇦🇺 Australia iron ore
Newmont Goldcorp$50B🇺🇸 United Statesgold
Southern Copper$47B🇺🇸 United Statescopper
Zijin Mining Group$38B🇨🇳 Chinagold, copper
Barrick Gold$37B🇨🇦 Canadagold
Nutrien$34B🇨🇦 Canadapotash
Anglo American Platinum$28B🇿🇦 South Africaplatinum, palladium, rhodium
Franco-Nevada$28B🇨🇦 Canadagold
Polyus $27B🇷🇺 Russiagold
Ganfeng Lithium$24B🇨🇳 Chinalithium
Wheaton Precious Metals$20B🇨🇦 Canadagold, silver, palladium, cobalt
Antofagasta $19B🇬🇧 United Kingdomcopper
Ma’aden$18B🇸🇦 Saudi Arabiagold

A $57 billion gap separates the top 3 from the rest of the group. In fourth place comes Glencore ($55B) with its mixed operations of trading and mining metals, agricultural products, and oil and gas.

The automotive industry is a big consumer of metals, which explains Norilsk Nickel’s ($54B) fifth place. The company, owned by the wealthiest man in Russia, is the world’s biggest producer of palladium, used in vehicles’ catalytic converters.

Miners also serve the luxury market, with precious metals like gold, silver, and gemstones. Number six on the list, Anglo American ($52B) is one of the world’s leading diamond companies.

In terms of countries, Canada leads the ranking with 4 miners on the list. The United States and Australia come next with 3 companies each.

Charging and Changing the Future of Mining Companies

The United States, Europe, and Asia are making big investments in electrification and power generation. By 2024, almost 33% of the world’s electricity is forecast to come from renewables.

This shift from fossil fuels will require a lot of copper, cobalt, and lithium for batteries. Mining companies are in a position to capitalize as the market expands.

For example, no. 17 in the list, China’s Ganfeng Lithium, the world’s third-largest producer of lithium chemicals for batteries, saw its market capitalization grow more than 25% in 2021.

The energy transition is just beginning, and the materials used in building a more sustainable future will also build up the largest mining companies of tomorrow.

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Electrification

Charted: Battery Capacity by Country (2024-2030)

This graphic compares battery capacity by cathode type across major countries.

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This graphic, using exclusive data from Benchmark Mineral Intelligence, compares battery capacity by cathode type across major countries.

Charted: Battery Capacity by Country (2024-2030)

As the global energy transition accelerates, battery demand continues to soar—along with competition between battery chemistries.

According to the International Energy Agency, in 2024, electric vehicle sales rose by 25% to 17 million, pushing annual battery demand past 1 terawatt-hour (TWh)—a historic milestone.

This graphic, using exclusive data from Benchmark Mineral Intelligence (as of February 2025), compares battery capacity by cathode type across major countries. It focuses on the two dominant chemistries: Nickel Cobalt Manganese (NCM) and Lithium Iron Phosphate (LFP).

Understanding Cathode Chemistries

Batteries store and release energy through the movement of lithium ions. The cathode—a key electrode—determines a battery’s cost, range, and thermal performance.

NCM

  • Offers higher energy density and better performance in cold climates, but is more expensive and has a shorter lifespan.

LFP

  • Known for its lower cost and improved thermal stability, though it delivers a shorter driving range and adds weight.

As of now, LFP cathodes make up 40% of the EV market in terms of gigawatt-hours (GWh).

Beyond passenger vehicles, LFP batteries are widely used in systems that undergo frequent charging and discharging—like residential and grid-scale energy storage—where added weight isn’t a major concern. They’re also ideal for daily-use applications such as buses and delivery fleets.

Regional Market Trends

In China, LFP is already dominant, accounting for 64% of the market in 2024. By 2030, that figure is projected to grow to 76%, driven by a focus on affordability in the world’s largest EV market. Notably, over 70% of all EV batteries ever manufactured have been produced in China, contributing to deep manufacturing expertise.

Region/CountryYear% NCM% LFP% Other
China202427%64%8%
North America202471%7%22%
Europe202469%8%24%
South Korea202462%4%35%
Japan202458%0%42%

Outside of China, NCM remains the leading chemistry due to consumer demand for longer range and premium performance.

North America – NCM holds a 71% share in 2024, with a slight decline to 69% forecasted for 2030.

Europe – NCM’s share is expected to grow from 69% in 2024 to 71% by 2030.

South Korea and Japan – Both countries show similar trends, with NCM gaining share as LFP remains limited or absent.

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Electrification

Top 20 Countries by Battery Storage Capacity

China holds about two-thirds of global BESS capacity.

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This graphic highlights the top 20 battery storage capacity markets by current and planned grid capacity in gigawatt hour (GWh).

Visualizing the Top 20 Countries by Battery Storage Capacity

Over the past three years, the Battery Energy Storage System (BESS) market has been the fastest-growing segment of global battery demand. These systems store electricity using batteries, helping stabilize the grid, store renewable energy, and provide backup power.

In 2024, the market grew by 52%, compared to 25% growth in the EV battery market. Among the top companies in the BESS market are technology giants such as Samsung, LG, BYD, Panasonic, and Tesla.

This graphic highlights the top 20 BESS markets by current and planned grid capacity in gigawatt hour (GWh), based on exclusive data from Rho Motion as of February 2025.

Chinese Dominance

As with the EV market, China currently dominates global BESS deployments, accounting for approximately two-thirds of installed capacity. However, other markets are expected to grow significantly in the coming years, driven by low-cost lithium-ion cells and the expansion of renewable energy capacity.

Currently, China has 215.5 GWh of installed capacity and an ambitious 505.6 GWh project pipeline. The U.S. follows with 82.1 GWh installed and 162.5 GWh planned.

Top BESS MarketsInstalled 2024 (GWh)2027P
🇨🇳 China215.5721.2
🇺🇸 USA82.1244.6
🇬🇧 UK7.556.3
🇦🇺 Australia5.6102.9
🇨🇱 Chile3.841.0
🇮🇹 Italy2.27.9
🇸🇦 Saudi Arabia1.332.4
🇿🇦 South Africa1.39.4
🇮🇪 Ireland1.62.5
🇵🇭 Philippines1.06.1
🇯🇵 Japan1.05.0
🇩🇪 Germany1.06.2
🇰🇷 South Korea1.11.3
🇮🇱 Israel0.84.6
🇫🇷 France0.61.8
🇧🇪 Belgium0.75.3
🇺🇿 Uzbekistan0.65.9
🇸🇪 Sweden0.61.5
🇮🇳 India0.54.3
🇨🇦 Canada0.318.3

Canada is projected to be the fastest-growing market through 2027, with its cumulative capacity hitting 18.3 GWh—a significant increase from its current 0.3 GWh capacity.

Countries such as Australia (97.3 GWh pipeline), Saudi Arabia (31.1 GWh), and Chile (37.2 GWh) have relatively small current installations but plan substantial expansions. Within Europe, the UK leads with 7.5 GWh of installed capacity and 48.7 GWh in the pipeline, while Italy, Germany, France, and Belgium show steady but more modest growth.

Despite being technological leaders, Japan (4 GWh pipeline) and South Korea (0.3 GWh) have relatively low planned BESS expansions.

According to Rho Motion, China will remain the dominant player in 2027, but its share of the total market is expected to decline to just over 50% based on the current project pipeline.

While the BESS market is expanding, challenges remain, including grid connection bottlenecks and the development of revenue streams in emerging markets.

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