Downturn in market cap for majority of top mining companies

By Krizka Danielle Del Rosario | 11 April 2018

Of the largest 25 mining companies in the world, 19 saw a decrease in valuation in March, leading to an aggregated market capitalization of US$776 billion. Despite an overall decline of the 25 largest companies from the previous month, these companies were worth more than the top 25 companies on the same date a year ago, when their combined worth was US$666 billion.

The rankings of the 10 largest mining companies remain unaffected by their respective decreases for the month. BHP Billiton Group remains the largest mining company in the world, even with a market cap decrease to US$111 billion.

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Chile-based Antofagasta PLC entered the list, after being knocked out of the ranking in January. The company jumped eight slots to 22nd place after recording a market cap of US$12.81 billion. This represented an 8.3% increase in value from February to March, the highest among the top companies.

Another company that has regained its place on the list is Fresnillo Plc. Emerging as the 20th-largest mining company from last month's 27th place, Fresnillo concluded March with a 6.4% increase to a market capitalization of US$13.19 billion.

Two companies were knocked out of the top 25 ranking; PAO Severstal from February's 22nd place to this month's 26th, and Sumitomo Metal Mining Co. Ltd. from 25th to 30th.

China Molybdenum Co. Ltd. had the highest year-over-year increase among the top companies, maintaining its rank within the top 10 and much higher than its 29th ranking in March 2017. The company recorded a market cap of US$26.8 billion, resulting in a three-digit growth of 161.7% from the previous year's US$10.24 billion.

Toronto-listed Barrick Gold Corp. experienced a 34.2% year-over-year decline in March with US$14.54 billion, resulting in the company dropping nine places to 18th on the list.

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Downturn in market cap for majority of top mining companies

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