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Coal India Ltd is sixth-largest mining company in world

Coal India (CIL) has become the sixth-largest mining company in the world in terms of market capital, according to a recent PwC report.
Earlier, the company was at the eighth spot among top 40 global mining firms, PwC said in its report called “Mine 2015”.

NMDC has improved its position by standing at 21st slot as against 24th earlier.

"The top 40 miners lost USD 156 billion, or about 16 per cent of their combined market value, in 2014," the report said.

The market capitalisation for the top 40 was USD 791 billion at the end of 2014, which is where it sat 10 years ago, it said.

"That's a drop of 16 per cent from USD 947 billion at the end of 2013. It's the second consecutive year of decline. Incredibly, the market capitalisation of the top 40 is only about half of its value four years ago," it added.

"It was a better year financially for the top 40, despite a continued dip in almost all commodity prices, as various cost initiatives, fewer high-dollar impairments, and lower input costs helped to improve the bottomline.

"Commodity prices remained under pressure, as iron ore, coal, and copper took another tumble in 2014," it said.

"Only six of the top 40 exceeded the 15 per cent benchmark. They include Coal India (coal), Norilsk Nickel (nickel), NMDC (iron ore), Randgold (gold), Shandong Gold (gold), and Newcrest (gold)," the report said.

source: http://www.indiainfoline.com