Mine 2017
Stop. Think… Act
Recovering from 2015’s race to the bottom, the members of the Top 40 paused and drew breath in 2016.
Overview
The narrative of the Top 40 in 2016, reads like a mine site safety mantra: Stop. Think… Act. The industry has stopped feeling so anxious and is now considering “Where to from here?”
Highlights include:
- Profitability restored – aggregate net profit of $20 billion
- Balance sheets bolstered with increased debt repayments
- Market capitalisation of the Top 40 increased by 45 percent to $714 billion
- Capex down 41 per cent to a record low of $50 billion
- Exploration budgets reduced to a mere $7.2 billion
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Michal Kotze
Africa Energy, Utilities and Resources Leader, PwC South Africa
Tel: +27 (0)11 797 4603
Email
Andries Rossouw
Partner, PwC South Africa
Tel: +27 (0)11 797 4060
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