Don’t take mining for-granted
- their first collective net loss in history ($27 billion)
- a decline in collective market capitalization of 37% (to below half a trillion dollars from a peak of $1.6 trillion in 2010)
- the lowest return on capital ever
- asset impairments totalling $53 billion (for a total of nearly $200 billion since 2010)
- record high leverage of 46%
- operating expenditure cuts of $83 billion.
Other than that, things were great!
Mining also saw the gap between its sector and other major indexes grow even larger:
But to spite this, mining still paid its taxes.