Market value of metals and mining companies falls 6.9% in June
The median market capitalisation of companies in the metals and mining sector fell by 6.9% through June after two previous consecutive months of increases, according to analysis from S&P Global Market Intelligence.
However, across the metals and mining companies market capitalisations remain 81.1% above year-ago levels at the end of June. The 25 largest mining and metals companies assessed held a cumulative market capitalisation of US$1.16 trillion as of the end of June, less than the top 25 metals and mining companies in May with a cumulative market value of US$1.22 trillion.
The figures reveal that the three largest companies in the space — BHP Group, Rio Tinto Group and Vale SA — account for 36.5% of the market value of the top 25 in the sector. Some mining companies saw modest market value gains in the period, including Saudi Arabian Mining Company (Ma'aden), Fortescue Metals Group Ltd., Hindustan Zinc Ltd. and Tata Steel Ltd.