Top 10 Mining Companies based on Cash Flow
Over the three calendar years, ten of the world's biggest miners produced an aggregate USD 195bn in operating cash flows, used USD 115bn of that for capital expenditure, and ended 2009 with USD 83bn in net debt, including cash.
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Company Summaries ($million) |
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|
2009 |
2008 |
2007 |
Total |
|
BHP Billiton |
|
|
|
|
|
Operating cash flow |
11,485 |
23,383 |
16,439 |
51,307 |
|
Capital expenditure |
-8,753 |
-9,150 |
-7,791 |
-25,694 |
|
Free cash flow |
2,732 |
14,233 |
8,648 |
25,613 |
|
Net debt |
-7,915 |
-4,168 |
-12,004 |
-7,915 |
|
|
|
|
|
|
|
Vale |
|
|
|
|
|
Operating cash flow |
7,136 |
17,114 |
11,012 |
35,262 |
|
Capital expenditure |
-8,096 |
-8,972 |
-6,651 |
-23,719 |
|
Free cash flow |
-960 |
8,142 |
4,361 |
11,543 |
|
Net debt |
-11,840 |
-5,606 |
-17,978 |
-11,840 |
|
|
|
|
|
|
|
Rio Tinto |
|
|
|
|
|
Operating cash flow |
9,212 |
14,883 |
8,491 |
32,586 |
|
Capital expenditure |
-5,388 |
-8,574 |
-5,000 |
-18,962 |
|
Free cash flow |
3,824 |
6,309 |
3,491 |
13,624 |
|
Net debt |
-18,769 |
-38,577 |
-45,224 |
-18,769 |
|
|
|
|
|
|
|
Freeport-McMoRan |
|
|
|
|
|
Operating cash flow |
4,397 |
3,370 |
6,225 |
13,992 |
|
Capital expenditure |
-1,587 |
-2,708 |
-1,755 |
-6,050 |
|
Free cash flow |
2,810 |
662 |
4,470 |
7,942 |
|
Net debt |
-3,690 |
-6,479 |
-5,585 |
-3,690 |
|
|
|
|
|
|
|
Anglo American |
|
|
|
|
|
Operating cash flow |
4,087 |
8,065 |
7,264 |
19,416 |
|
Capital expenditure |
-4,607 |
-5,146 |
-3,931 |
-13,684 |
|
Free cash flow |
-520 |
2,919 |
3,333 |
5,732 |
|
Net debt |
-11,046 |
-11,224 |
-5,170 |
-11,046 |
|
|
|
|
|
|
|
Xstrata |
|
|
|
|
|
Operating cash flow |
4,131 |
6,585 |
7,414 |
18,130 |
|
Capital expenditure |
-3,568 |
-4,796 |
-2,848 |
-11,212 |
|
Free cash flow |
563 |
1,789 |
4,566 |
6,918 |
|
Net debt |
-12,616 |
-16,306 |
-11,624 |
-12,616 |
|
|
|
|
|
|
|
Barrick |
|
|
|
|
|
Operating cash flow |
2,899 |
2,254 |
1,732 |
6,885 |
|
Capital expenditure |
-2,351 |
-1,749 |
-1,046 |
-5,146 |
|
Free cash flow |
548 |
505 |
686 |
1,739 |
|
Net debt |
-3,771 |
-3,119 |
-941 |
-3,771 |
|
|
|
|
|
|
|
Anglo Platinum |
|
|
|
|
|
Operating cash flow |
558 |
2,087 |
1,964 |
4,609 |
|
Capital expenditure |
-1,343 |
-1,740 |
-1,511 |
-4,594 |
|
Free cash flow |
-785 |
347 |
453 |
15 |
|
Net debt |
-2,609 |
-1,392 |
-526 |
-2,609 |
|
|
|
|
|
|
|
PotashCorp |
|
|
|
|
|
Operating cash flow |
924 |
3,013 |
1,689 |
5,626 |
|
Capital expenditure |
-1,764 |
-1,198 |
-607 |
-3,569 |
|
Free cash flow |
-840 |
1,815 |
1,082 |
2,057 |
|
Net debt |
-3,663 |
-2,787 |
-710 |
-3,663 |
|
|
|
|
|
|
|
Teck (CAD m)* |
|
|
|
|
|
Operating cash flow |
2,983 |
2,109 |
1,719 |
6,811 |
|
Capital expenditure |
-590 |
-928 |
-571 |
-2,089 |
|
Free cash flow |
2,393 |
1,181 |
1,148 |
4,722 |
|
Net debt |
-6,584 |
-12,024 |
-115 |
-6,584 |
|
10 Company Summary ($million) |
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|
|
2009 |
2008 |
2007 |
Total |
|
Operating cash flow |
47,812 |
82,863 |
63,949 |
194,624 |
|
Capital expenditure |
-38,047 |
-44,961 |
-31,711 |
-114,719 |
|
Free cash flow |
9,765 |
37,902 |
32,238 |
79,905 |
|
Net debt |
-82,503 |
-101,682 |
-99,877 |
-82,503 |
*Teck may not rank as one of the top ten mining companies by value, but it turned in one of the most impressive performances of 2007- 2009.
Source: Mineweb