After a deep and damaging mine capital and operating investment trough between 2013 and 2017, the mining equipment, technology and services (METS) sector collectively recorded a second consecutive year of growth in 2018. The top 100 METS companies in the world, based on exclusive Mining Journal Intelligence research, generated about $85 billion of mining and metals sales income from the supply of products, equipment, technologies and services to miners and mineral exploration companies.

That's up about 13% on the previous 12 months.

The top 100 are not all pure METS enterprises. Some, such as Caterpillar, ABB and Fluor, also earn significant income from oil and gas, construction, utilities and other markets. In total the 100 companies listed in the inaugural Mining Journal Global METS Investment Report logged sales revenues of $505 billion and a cumulative net profit of more than $30 billion in 2018. They employed about 2.1 million people at the end of 2018.

Some 31 of the firms derive 100% of their revenues and profits from mining-related activities; many more the majority of their income and net earnings.

The Global METS Investment Report top 100 collectively provide more than half the estimated $150 billion of mining equipment, parts, engineering, drilling, contract mining, construction, consulting and other services, consumables such as explosives, chemicals and rock bolts, and ICT and other technologies used each year at mines, mineral processing facilities, and project sites.

More than three-quarters of the top 100 (77) are publicly-owned companies, 22 private, and one government-owned enterprise. The former have seen significant market value gains since equity prices bottomed through 2015 and 2016, but public markets in Canada, Australia, the UK and South Africa have generally cooled on mining contractors, engineers, and bulk consumable suppliers over the past 12 months despite underlying signs of continuing strong global industry spending on exploration, development and asset management.

Uncertainty about medium-term industry investment levels and broader global economic growth are to blame.

To find out more about the 2019 Global METS Investment Report, email the lead report author at richard.roberts@mining-journal.com