04 July 2016 at 3:53 GMT
Nikkei Asian Review
The commodities bust is reshaping the industry with companies from China, India and other developing nations on the rise as former leaders such as Anglo American and Freeport-McMoRan struggle to survive by selling assets at fire-sale prices. In its annual Mine Report, PwC calculated that the world's top 40 mining companies posted a collective loss of $27bn for the first time in the survey's 13-year history. Both Anglo American and Freeport-McMoRan tumbled out of the top 10 this year, while coal giant Peabody Energy slipped down the rankings. In their place are Chinese groups. China is the world's largest consumer of mined commodities and in many cases the world's largest miner of commodities such as coal, gold and rare earths.
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