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The global mining industry is enjoying record results as demand for metals soars

While the world ’ s biggest mining companies have reported record profits of late , tech innovators can also share the wealth .

Rio Tinto reported a record first half net profit which saw it triple payouts to shareholders . Net profit rose to more than US $ 12.3 billion compared to ‘ just ’ US $ 3.3 billion a year ago .

This saw Rio Tinto pay out US $ 9 billion to shareholders . Anglo American paid US $ 4.1 billion , Glencore US $ 1.18 billion – with plenty more to come .

This boom has been fuelled by soaring commodities prices . Copper is up around 21 % so far this year . Lithium has more than doubled .

Why is this good news beyond dividends ? High commodity prices mean more mines become viable , exploration that previously may have been put on hold becomes economically attractive , and investing in new technology like AI can improve efficiencies and maximise productivity . This is good news all round for the industry . © 2021 | ALL RIGHTS RESERVED miningglobal . com 5