Top 20 miners’ CapEx to grow by 3.8% in 2026

Capital expenditure (CapEx) by the world’s top 20 mining companies increased from $73.6bn in 2024 to $79.4bn in 2025 and is estimated to rise further to $82.4bn in 2026, representing a 3.8% year-on-year increase. The two largest spenders are expected to be Rio Tinto and BHP, each planning to invest $11bn this year. Rio Tinto is projected to spend $11bn in 2026, a 3.5% decrease from the previous year, due to a reduction in growth capital, normalised sustaining capital, and the completion of major projects ...