The world's 50 largest mining companies saw their combined market capitalization drop by $126 billion in 2024, marking a 9% decline. The downturn was attributed to a fading copper rally and underperformance of gold stocks. Traditional mining giants like BHP, Rio Tinto, Glencore, Vale, and Anglo American suffered significant losses, with their combined value shrinking by 25.3%.
The world’s 50 biggest miners are now worth $1.35 trillion after losing a combined $126 billion over the course of 2024 as the copper rally faded and gold stocks once again underperformed bullion.
Together the stalwarts shed 25.3% or $119.7 billion of their value as their bread and butter commodities – copper and iron ore – went into retreat. Anglo American is not a top 10 company anymore either but has the distinction of being the only one ofHow much of that valuation is the lingering effects of BHP’s approach is debatable, but long term investors will still be carrying the shock of January 2016 when Anglo’s market cap fell below $5 billion after it came close to
The long-running battle to expand Oyu Tolgoi in Mongolia also seems to have reached a steady state, but Rio’s diversification bent and penchant for opportunistic investment are intact. While First Quantum Minerals ended up the clear leader among the best performers as the prospects of the re-opening of Cobre Panama mine become brighter, Polish copper major KGHM leaving the Top 50 in Q4 puts a cap on a what-could-have-been year for copper stocks. The value of precious metals and royalty companies climbed by a modest $18.4 billion or 7.2% in 2024, compared to gold’s 27% run up and silver’s 22% charge.
Were it not for the limited tradability of stock in Russia’s Polyus, which greatly underperformed its peers on an ounce for ounce basis the sector’s standing in the ranks would also be greater. As with any ranking, criteria for inclusion are contentious. We decided to exclude unlisted and state-owned enterprises at the outset due to a lack of information. That, of course, excludes giants like Chile’s Codelco, Uzbekistan’s Navoi Mining , Eurochem, a major potash firm, and a number of entities in China and developing countries around the world.
MINING MARKET CAPITALIZATION COPPER GOLD STOCK MARKET MINING COMPANIES
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
iPad Mini (2024) vs iPad Air (2024): Which One is Right for You?Apple's 2024 iPad lineup includes a refreshed iPad mini and a new iPad Air with two screen sizes. This comparison helps you decide between these two popular models.
Read more »
2024 Lookback: ‘Mufasa’ Meltdown Caps Unpredictable 2024 Box OfficeRevisiting 2024 box office predictions highlights missed expectations for “Mufasa,” “Joker,” “Inside Out 2,” “Deadpool” and more
Read more »
Top luxury campaigns of 2024: LVMH and Paris 2024The corporation's wine and spirits division Moët Hennessy, beauty retailer Sephora and jeweler Chaumet are among the brands that supported the premium partnership.
Read more »
2024 Golden Globe Awards Fashion Roundup + Faby's Best of 2024This article covers the red carpet fashion at the 2024 Golden Globe Awards, highlighting standout looks from Zendaya, Janelle James, Sheryl Lee Ralph, and Rihanna. It also promotes voting for various categories in The Fabys Awards of 2024, including Best Wig Hairstylist, Best Natural Hairstylist, Best Makeup Artist, Best Stylist, and Most Fashionable Couple.
Read more »
Giants Hoping for Offensive Improvement in 2024The San Francisco Giants made key additions to their lineup this offseason and are optimistic about their chances to become serious contenders in 2024.
Read more »
Giants Prospects Ready to Make Impact in 2024The San Francisco Giants may rely heavily on their young prospects to make a difference in the upcoming season. Several players, including Whisenhunt, Eldridge, and Harris, are on the verge of breaking into the major leagues.
Read more »