April 2024 news: The list of the top 50 global mining companies was announced. Most of the companies on the list have diversified operations, covering copper, iron ore, lithium, precious metals, coal and other minerals, with a total market value of less than 1.4 trillion US dollars (about 10.15 trillion yuan), a decrease of 13 billion US dollars from the beginning of the year. [Note: The list excludes non-listed companies, smelters or commodity traders who hold minority stakes in mining assets, as well as vertically integrated companies such as Alcoa, China Shenhua and CATL, although they are involved in mining, but this business accounts for only a small part of their valuations]
In terms of the number of companies on the list, Canada ranks first with 11 companies, followed by China with 9 companies, the United States and Australia with 6 each, the United Kingdom with 3 companies, and South Africa, Russia and India with 2 companies each. In terms of market capitalization, the total market capitalization of Chinese companies on the list is US$192 billion, accounting for 13.8%, ranking third, behind Australia (24%) and Canada (15%).
The nine listed companies in China are Zijin Mining (6), Shaanxi Coal (12), China Molybdenum (21), Yanzhou Coal (24), Shandong Gold (27), Tianqi Lithium (37), Northern Rare Earth (39), Ganfeng Lithium (40) and Jiangxi Copper (41).
As of the end of March, gold and copper prices rose by 14% and 12% respectively, and the market value of related companies also rose, with China Molybdenum, Zijin Mining, Jiangxi Copper and Shandong Gold rising by 54%, 31%, 30% and 19% respectively, ranking among the top 10 gainers.
Zijin Mining from Fujian has a market capitalization of US$59.8 billion, ranking sixth in the world. By the end of 2023, the company has copper resources of 75 million tons, gold resources of 3,000 tons, zinc (lead) resources of more than 10 million tons, and lithium resources (equivalent lithium carbonate) of more than 13 million tons.
Last year, Zijin Mining's operating income increased by 8.54% year-on-year to 293.403 billion yuan, and its net profit increased by 5.38% year-on-year to 21.119 billion yuan, hitting a record high. 1,007,300 tons of copper and 67.73 tons of gold, an increase of 11.13% and 20.17% year-on-year respectively, ranking first in China and top ten in the world.
Despite a double-digit decline in the first quarter, BHP and Rio Tinto still firmly occupy the top two spots on the list, which are also the only two mining companies in the world with a market value of more than US$100 billion, with US$146.3 billion (about 1.06 trillion yuan) and US$108.7 billion respectively.
Founded in 1873, the British and Australian mining giant Rio Tinto is headquartered in London, England, and Melbourne, Australia. It integrates mineral resources exploration, mining and processing, and its main products include iron ore, aluminum, copper, diamond, borax, titanium dioxide, lithium, industrial salt and other mineral raw materials.
Iron ore is Rio Tinto's largest business, with resources mainly coming from the Pilbara in Western Australia and Canada. Last year, it continued to be the world's largest iron ore producer, with Pilbara iron ore production reaching 331.5 million tonnes, up 2% year-on-year. China Baowu is its largest customer.
The world's largest miner: BHP Billiton was formed in 2001 by the merger of Broken Hill Proprietary and Billiton, with global headquarters in Melbourne and sales worldwide through a marketing hub in Singapore. Operating income for the first half of fiscal 2024 (July 1 to December 31, 2023) was $27.2 billion, up 6% year-over-year.
Its resources include copper, nickel and potash as well as iron ore and coking coal, with resource exploration and development operations primarily located in Australia and the Americas. Iron ore production last year was 295 million tonnes, up about 12% year-on-year, ranking third in the world behind Rio Tinto and Vale.
Source: Global Geological and Mineral Information System