The top 50 of the world’s most valuable mining companies (TOP 50) had a combined market capitalisation of $1.28 trillion at the end of 2024, $126 billion less than a year earlier and $480 billion less than the peak in the second quarter of 2022.
The value of the shares of the mining quintet – BHP, Rio Tinto, Glencore, Vale and Anglo American – fell by 25.3 per cent, or $119.7 billion, in 2024, due to the falling prices of commodities such as copper and iron ore.
Among these, Vale is the worst-performing mining stock in the rankings with a 44.9% decline in 2024 after a 22% drop in the previous year. Vale’s market capitalisation, which briefly topped $100bn in 2022, has plummeted to $37.7bn, falling out of the top ten.
Meanwhile, shares of China’s Zijin Mining Company recorded a 20.4 per cent gain in 2024, making it the world’s fourth-largest mining company after BHP Group, Rio Tinto and Southern Copper. Zijin Mining’s stock is also one of the best performers among the top 10 global mining companies.
Other Chinese companies on the list includes Shaanxi Coal, which is ranked 14th on the list and whose stock is up 8.2 per cent in 2024. COMC Group ranks 24th, with shares up 26.6 per cent last year. Yanzhou Coal and Shandong Gold ranked 28th and 29th, with shares down 11.2 per cent and 5.4 per cent respectively.
Northern Rare Earth, ranked 35th, saw its share price rise 6.6 per cent last year. Ganfeng Lithium, ranked 41st, saw its shares fall by 22.7 per cent, followed by Jiangxi Copper, ranked 42nd, which saw its shares rise by 14.5 per cent.
Shares of 48th-ranked Tianqi Lithium fell 42.7 per cent last year, making it one of the worst performers among the world’s largest mining stocks. Huayou Cobalt is the 50th on the list with a market capitalisation of $6.7bn and saw its share price down 15.5% in 2024.
