Mining industry operations and technologies multinational companies (MNCs) are far more likely to establish subsidiaries in Asia-Pacific than the average large, global company, according to analysis of GlobalData’s exclusively compiled subsidiary database.

Investment Monitor’s MNC subsidiary database contains information for 2,188 of the world’s top companies by revenue. Of these MNCs, 55 are in the mining industry operations and technologies industry, representing 2.5% of the companies in our database.

These mining industry operations and technologies companies are less likely than average to establish subsidiaries in western Europe (26.2% versus 36.8%) and are more likely to establish them in Asia-Pacific (32.6% versus 21.4%).

Overall, the 55 mining industry operations and technologies MNCs in our database operate 5,250 subsidiaries. This comes to an average of 95.5 subsidiaries per company, compared with an average of 99 for the entire database of 2,188 companies. It should be noted, however, that the number of subsidiaries is by no means evenly distributed within the sector. The most common number of subsidiaries for an MNC in the sector (the mode) is 17, while the median comes in at 40, indicating that the simple average is skewed heavily by the bigger parent companies.

Germany-based ThyssenKrupp has the largest number of subsidiaries among the mining industry operations and technologies MNCs within our database with 453. This means it ranks in 97th place across our entire database when measured by the total number of subsidiaries.

Germany’s ThyssenKrupp has the largest number of subsidiaries among all MNCs in the mining industry. (Photo by Ina Fassbender/AFP via Getty Images)

Where has ThyssenKrupp established subsidiaries?

ThyssenKrupp’s subsidiaries are distributed across the world, with 49% of the total located in western Europe, the highest for any region. Some 107 of ThyssenKrupp’s subsidiaries are located in its home country of Germany, while the US was the second most popular destination with 30.

After ThyssenKrupp, Rio Tinto has the second-largest number of subsidiaries within the mining industry in the database with 421, while Caterpillar is third with 398 and Anglo American fourth with 365.

Overall, 1,406 of the subsidiaries owned by the mining industry operations and technologies MNCs in the database are located in the same country as the parent company was headquartered. This means that MNCs in the sector are less likely than average to have a preference for domestic subsidiaries at 26.8%, with the figure for the entire database standing at 45.7%.


GlobalData has compiled a list of top MNCs based on revenue. Any top companies that did not have a subsidiary were removed from the list. The latest company annual reports (2019 and 2020, where available) and websites were analysed for a total of 2,188 companies.

For a subsidiary to be included, the parent company had to have a majority ownership/control in the subsidiary. Affiliates, associates, joint operations and joint ventures were included as long as the ownership criteria was met. Subsidiary information was captured at a country level. Country names were standardised. In total, 216,898 subsidiaries were captured.

This article originally appeared in Mining Technology.