View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 7, 2020updated 01 Nov 2021 5:51am

Covid-19 wipes $282bn from the top 50 mining companies

The ongoing coronavirus Covid-19 pandemic has so far wiped $282bn from the value of the top 50 mining companies worldwide, according to new figures published by Mining.com.

By Matthew Hall

The ongoing coronavirus Covid-19 pandemic has so far wiped $282bn from the value of the top 50 mining companies worldwide, according to new figures published by Mining.com.

Free Whitepaper
img

Mining Mega Trends and Their Impact to your Organisation's Resilience

Numerous mega trends are impacting the mining industry, making an effective resilience program more important than ever to ensure that operations continue as intended. From ESG considerations, through to the use of advanced technologies such as Internet of Things devices, AI, and digital twins, as well as workplace safety, volatility in commodity markets, and the spectre of Covid-19 still looming. Each mega trend has a different impact that needs managing correctly, with a one-size-fits-all approach insufficient. This white paper identifies the mega trends affecting mining businesses, while exploring the opportunities, risks, and implications for operational resilience, with expert insight from Dynamiq on the best practices and approaches to improve business outcomes. Download this document to learn more.  
by Dynamiq
Enter your details here to receive your free Whitepaper.

The figures show a struggling industry overall, despite a resurgent gold price in recent months. The top 50 companies by market value compiled by Mining.com showed a combined market value of almost $1tn in 2019, after adding close to $160bn in market capitalisation over the previous year.

In the first quarter of 2020, the top 10 mining companies lost a combined $170bn in market value. Glencore has dropped to ninth place in the ranking following a 50% drop in market value. Two years ago the commodities giant was the third-largest mining company in the world.

Polish copper company KGHM dropped out of the top 50 altogether. The biggest drops in market value came from Vedanta, Teck Resources, and Anglo American Platinum.

The only company to see double-digit growth was Polyus, Russia’s largest producer of gold. The company rose 10.2% so far this year.

The combined market cap for all the top 50 mining companies now sits at just under $704bn. Over 30% of that value comes from the six Australian companies on the list. Canadian and US companies are the other major players, contributing 16.4% and 11.1% respectively to the overall value of the top 50 companies.

Related Companies

Free Whitepaper
img

Mining Mega Trends and Their Impact to your Organisation's Resilience

Numerous mega trends are impacting the mining industry, making an effective resilience program more important than ever to ensure that operations continue as intended. From ESG considerations, through to the use of advanced technologies such as Internet of Things devices, AI, and digital twins, as well as workplace safety, volatility in commodity markets, and the spectre of Covid-19 still looming. Each mega trend has a different impact that needs managing correctly, with a one-size-fits-all approach insufficient. This white paper identifies the mega trends affecting mining businesses, while exploring the opportunities, risks, and implications for operational resilience, with expert insight from Dynamiq on the best practices and approaches to improve business outcomes. Download this document to learn more.  
by Dynamiq
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology