Did you know that 477 deals costing around $44 million have been sealed for mergers and acquisitions in the mining industry in 2016 alone? Mining has been around for so long and it has made so many people wealthy. Mining is a complex process of securing coal or other minerals from a mining site. It is categorized into two types – the surface and the underground mining. When you say surface mining, it involves scraping surface dirt, bedrock and other layers of the earth where ore deposits are found. Coal is the power energizing the world. Most people use coal as an affordable alternative source of power fuel. It supplies about 40% of the world’s electricity production. Dangerous coal activities may lead to ecological hazards, but through the years, there has been a massive improvement in technology which positively affects the mining and coal processing industry. One of the negative effects of coal mining is the contamination of water that is hazardous to the human health. Methane emissions in the atmosphere can also affect the environment. This problem eventually results to displacement people and the entire community. But how do mining magnates actually earn from this industry? Basically, they invest in stocks. Also, some mining companies purchase mineral prospects from smaller mining companies. To make it profitable, these companies must have a higher return from selling the minerals. The usual markup ranges from 10-20 percent. Some of the richest mining magnates included on our list include David Koch, Andrew Forrest, and David Milles. Don’t forget to check out their profiles on our website.