Algo Grande Copper Corp. (TSXV: ALGR)
High-Grade Copper in North America
As of the end of July 2026, the combined market capitalization of the MINING.COM Top 50 global mining companies reached $2.17 trillion, up $18 billion from the end of June and holding a gain of $26 billion so far in 2026. Although this figure falls short of the historical peak of $2.41 trillion at the end of the first quarter, the July rebound following a sharp correction in the second quarter suggests the industry is stabilizing.
BHP ($216 billion) firmly holds the No. 1 spot, having added $62 billion in market value in 2026, a 41% gain. The Melbourne-based mining giant has widened its lead over second-ranked Rio Tinto to approximately $50 billion—the largest gap between first and second place in the history of this ranking.
Rio Tinto ($162 billion) maintains its second-place position, followed by Southern Copper and Newmont in third and fourth. Notably, Zijin Mining surged 24% in July (adding $24 billion) to reach $125 billion, overtaking Newmont to claim fourth place. However, data from the end of the second quarter showed Newmont had narrowly edged ahead of Zijin. Zijin’s surge was driven by its first-half profit alert—net profit is guided at approximately RMB 39.1 billion, up 68% year-on-year, with lithium production soaring from 7,000 tonnes in the same period last year to 43,000 tonnes of lithium carbonate equivalent. Lithium has become the company’s “third growth engine.”
Glencore rose 7.6% in July to $86 billion, ranking seventh. The company recently reported a strong first-half performance, with adjusted EBITDA of $10.1 billion, up 86% year-on-year. Copper output rose 15% just as copper prices hit record highs, and its oil trading desks benefited from volatile markets. The Swiss giant is now approaching the $100 billion market cap threshold once again.
Anglo American (No. 13) and Teck Resources (No. 21) are in the final stages of their merger. The approximately $53 billion deal has cleared shareholder votes and most regulatory approvals, pending final regulatory clearance, with completion expected by early 2027. The combined entity, “Anglo Teck,” will be reclassified as a copper company under the ranking’s rules, with annual copper production of approximately 1.2 million tonnes, rising to 1.35 million tonnes by 2027. This also marks the end of Anglo American’s century-plus history as a diversified mining giant.
July’s winner list was almost exclusively Chinese gold stocks. Zijin Mining rose 23.8%, Zhongjin Gold gained 21.4%, and Shandong Gold advanced 16.9%. These stocks had experienced a roughly 30% pullback from gold’s record high above $5,590 per ounce in January, and are now in a valuation recovery phase, with some trading at price-to-earnings ratios of around 10 times.
At the other end, Russian gold producer Polyus fell 37.6%, shedding $13.2 billion in market value, dropping to 28th place. On July 8, the company announced it would suspend dividends until 2030 to fund investment projects, sending its stock down 26% in a single session—its second-worst daily drop since the 27.4% collapse on September 16, 2008, when Lehman Brothers collapsed. Market speculation suggests Polyus is preparing for a potential windfall tax on gold profits, with internal budgets based on a conservative gold price of $3,100 per ounce.
July’s ranking welcomed two new faces: Morocco’s Managem, up 106% year-to-date, debuted at No. 39, with gold and cobalt mining assets across multiple African countries. Meanwhile, South32 re-entered at No. 45 with a 12.2% monthly gain, after securing final federal approval in early July for its Hermosa zinc-silver-manganese project in Arizona—the first new mine project approved in the U.S. in a decade, with first production expected in early 2028. South32 also agreed to sell most of its aluminum business to Alcoa for up to $5.6 billion. Its retained Cannington silver-lead-zinc mine, with silver prices near $60 per ounce (up more than 50% year-on-year), has become a core value driver.
The admission threshold rose from $13.1 billion at the end of June to $13.56 billion, not far off the record $14.5 billion set at the end of March. In July alone, the market cap swing range reached $545 billion—at each company’s best month-end of the year, the Top 50 would be worth $2.44 trillion; at each one’s worst, just $1.9 trillion. This enormous spread is the truest reflection of the volatility in the 2026 commodity markets.
