Original article by Paul Garvey
The Australian – Page: 21 : 7-Jun-17

A report from PwC shows that the world’s 40 largest mining companies posted a combined profit of $US20bn in 2015, compared with a $US48bn loss in 2015. They also repaid some $US93bn ($A124.4bn) worth of debt in 2016, while combined capital expenditure fell by 41 per cent to a record low of $US50bn. The report also notes that expenditure on exploration fell to $US7.2bn, having peaked at $US21.5bn in 2012.

CORPORATES
PRICEWATERHOUSECOOPERS, ASSOCIATION OF MINING AND EXPLORATION COMPANIES, AUSTRALIAN BUREAU OF STATISTICS