DIGITAL MINING
For a total economic value of US $ 782bn , the corresponding reliability spend was US $ 55bn . As per geographical distribution , Asia was the leader , holding US $ 214bn in economic value , and in Asia , China was the ruler with US $ 167bn . South America occupied 2nd position in the list with US $ 107bn in economic value .
Thus , it was estimated that metal and fertiliser miners worldwide spend US $ 55bn per annum on reliability . This was 10 % more than the reliability budget of the refiners , which spent US $ 51bn per annum .
Revenue and Profitability Miners suffered in profitability in 2015 due to the major oil price crash . However , after examining the financial performance of
15 large publicly traded meal miners from 2015-2020 , it was noted that miners suffered a revenue drop of 3 % from 2015-2016 . Still , their operating margin increased by 11 percentage points .
As the recovery from the crash started in 2017 , the revenue increased by 25 %, and the operating margin increased by eight percentage points . A similar trend was witnessed in 2019-2020 . With the Covid- 19 outbreak , mining organisations didn ' t operate their least productive mines or any other non-performing facilities . It enabled them to gain 10 % more operating profit against 12 % less revenue . These figures strongly indicate the capabilities of the mining industry to mitigate serious challenges posed on the industry . The
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