In this brief article, we’ll discuss the giants in the world’s mining sector and their current market standing. If you want more information on how these corporations impact the supply chain of many crucial metals and materials, read 20 Most Valuable Mining Companies in the World.
5. Southern Copper Corporation (NYSE:SCCO)
Market Capitalization: $54.53 billion
Southern Copper Corporation (NYSE:SCCO), a leading integrated copper producer globally, is based in Phoenix, Arizona. It operates major mining and smelting facilities in Mexico and Peru, countries rich in copper reserves. The company’s significant mines include the Cuajone and Toquepala mines in Peru and the Buenavista mine in Mexico. In the third quarter of 2023, Southern Copper Corp (NYSE:SCCO) reported a net income of $619.5 million, a 19.4% rise compared to the $519.0 million in the same quarter of 2022. Additionally, the company produced 226,120 tons of copper during this period.
4. Vale S.A. (NYSE:VALE)
Market Capitalization: $62.77 billion
Vale S.A. (NYSE:VALE) is a Brazilian multinational primarily known for its iron ore production, one of the largest globally. Vale’s operations span several continents, with significant activities in Brazil, Canada, Indonesia, and Mozambique. The company’s notable mines include the Carajás Mine in Brazil, one of the world’s largest iron ore mines, and the Voisey’s Bay nickel project in Canada. Vale is also involved in copper, coal, fertilizers, and logistics operations, including railways and ports, integral to its mining activities. In the third quarter of 2023, Vale S.A. (NYSE:VALE) reported a revenue of $10,623 million, a significant increase from the $9,673 million in the second quarter of 2023, indicating a positive financial trajectory.
3. Glencore plc (LSE:GLEN)
Market Capitalization: $65.8 billion (1 GBP = 1.22 USD)
Glencore plc (LSE:GLEN) is a British-Swiss multinational commodity trading and mining company operating in over 35 countries and a major producer and marketer of more than 90 commodities. Its mining operations include copper, zinc, nickel, coal, and oil, with key mining and metallurgical sites in Australia, Africa, South America, and Kazakhstan. In July 2023, Glencore plc completed the acquisition of a 56.2% interest in the MARA Project from Pan American Silver Corp (NYSE:PAAS) for $475 million.
As part of the agreement, Glencore granted Pan American Silver Corp (NYSE:PAAS) a 0.75% Net Smelter Return (NSR) royalty, entitling them to a portion of the revenue from the copper produced and smelted from Glencore’s projects. This NSR entitles Pan American Silver Corp (NYSE:PAAS) to receive a portion of the revenue generated from the copper produced and smelted from Glencore’s mining projects.
2. Rio Tinto Group (NYSE:RIO)
Market Capitalization: $106.204 billion
Rio Tinto Group (NYSE:RIO) is a British-Australian multinational corporation and a major producer of iron ore, copper, diamonds, gold, and uranium. Its primary operations include the Oyu Tolgoi copper mine in Mongolia, the Diavik diamond mine in Canada, and the Pilbara iron ore project in Australia.
Rio Tinto Group (NYSE:RIO) exclusively owns the Diavik Diamond Mine in Canada’s Northwest Territories. In a recent report, Rio Tinto disclosed that the Diavik mine produced around 970,000 carats of diamonds in the second quarter of 2023, an improvement from the 954,000 carats produced in the first quarter.
1. BHP Group Limited (NYSE:BHP)
Market Capitalization: $147.045 billion
BHP Group Limited (NYSE: BHP) is an Anglo-Australian multinational engaged in mining metals and petroleum. The company operates major resource extraction and processing operations, with a focus on iron ore, copper, coal, and petroleum. Its assets include the Escondida copper mine in Chile, the world’s largest, along with significant iron ore operations in the Pilbara region of Western Australia. Additionally, BHP Group Limited (NYSE:BHP) has extensive coal mines in Australia and the Americas.
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