Noranda, Inco on top-10 list of mining firms

Canadian mining giants Noranda (TSE) and Inco (TSE) were among the top 10 mineral producers in the western world in 1990, according to Who Owns Who In Mining 1992, published recently by London-based Roskill Information Services.

Both companies yielded about 1.8% of the western world’s non-fuel minerals, but Noranda, in fifth position, is ranked just ahead of nickel producer Inco on a list of top 50 producers.

In first place is South Africa’s Anglo American, which accounted for 8.5% of western world production. At 4.2%, RTZ of England ranks a distant second, followed by Chile and Brazil at 3% and 2.6% respectively.

But with the exception of Noranda, Inco, and 15th-place Placer Dome (TSE), Canada’s biggest mining companies tend to fall closer to the bottom of the top-50 list.

Lac Minerals (TSE), which generated about 0.5% of the western world’s minerals through its gold production, is listed in 36th position. Fellow gold miners International Corona (TSE) and Echo Bay Mines (TSE) are ranked 42nd and 47th respectively. Diversified base and precious metal producer Keevil Holding, an affiliate of Teck (TSE), took 50th position for producing 0.3% of the western world’s minerals.

According to the reference book, the top 50 producers generated about 55% of western world production in 1990.

Considering the recent political strife in South Africa, Anglo American’s stronghold on many sectors of the industry could spark volatility in metal markets. Anglo produced 24% of the western world’s gold, 21.2% of its diamonds and 60.3% of its vanadium.