Gold price rally lifts Top 50 mining stocks above US$1 trillion for first time

MINING.COM’s ranking of the world’s 50 largest mining companies based on market value shows an industry recovering from its COVID-19 slump and moving into positive territory for Q4 2020. The Top 50 most valuable mining companies added US$80.2 billion in market capitalization over the three months to end September, thanks to surging gold and silver prices, iron ore prices firmly in triple digits, and a copper price flirting with two-year highs. Mining’s majors looked poised to join the trillion dollar club at the outset of 2020, but the pandemic torpedoed the early stages of a cyclical upswing for the industry, delaying the milestone by nine months. Measured from the height of the pandemic in March-April, the index has recovered by nearly US$330 billion.