Non Public Ownership

Non public ownership includes: state owned and privately owned enterprises, but specifically excludes publicly owned enterprises. Disclosure standards vary, but typically non public enterprises have a lower level of transparency than public companies.

State Owned Enterprises

State Ownership in mining is reflected a few different ways around the world. Either state owned companies are set up to administer a Free Carry Interest (FCI) in a mine or they are set up as a sole or joint venture owner of a mine.

An example of direct mine ownership is CODELCO (Corporación Nacional del Cobre de Chile), the Chilean state-owned copper mining company. CODELCO have high levels of transparency and excellent reporting standards.

State Owned Enterprises that are quoted on a recognised stock exchange are shown in the public ownership category.

Private Enterprises

Precious metals mining is resource intensive, meaning that there are relatively few private companies which have the scale to own metals mining operations outright. The largest private companies are based in Russia and Kazakhstan, and are usually associated with particular very high net worth families or individuals.