Mining companies squeezing debt, EY report reveals

Last Modified: Mon Aug 07 2017 01:28:54 GMT+0530 (India Standard Time)
  • 50
    of the top global mining companies by market cap were analysed by EY in preparing its report titled 'Does cutting debt have to mean reducing your ambitions?'.
  • 25%
    Percentage by which debt has fallen in the sector from peak levels in 2014 following the end of the 'supercycle', with the majority of debt reduction happening in 2016.
  • $39 billion
    Debt reduction in 2016 alone - nearly 17% of the total debt. Proceeds from asset sales, curtailed capital spending and suspended dividends were contributing factors.