MINING.COM’s ranking of world’s biggest miners welcomes the first Indonesian company to the top tier and Perth as the city hosting the greatest number on the list at the end of the second quarter 2023 At the end of the first quarter of 2022 metals and minerals were setting all-time records led by bellwether copper which briefly traded above $5 a pound or more than $11,000 per tonne. Iron ore, the second most traded bulk commodity after crude oil and the cash cow for the top tier of the mining world, was above $150 a tonne. Both commodities are down by more than 20% since then – officially a bear market. At the end of Q1 2022, the MINING.COM TOP 50* ranking of the world’s biggest miners hit an all time record of a collective $1.75 trillion. Half way through 2023 and mining valuations have slumped a total of $356 billion after giving up a collective $47 billion during the second quarter. The Top 50 now has a combined market value of $1.38 trillion – back to levels seen end-June 2021. Indonesian debut The first Indonesian company to make it into the top 50 is Amman Minerals Internasional, owner and operator of the Batu Hijau copper and gold mine and developer of the adjacent Elang project. Elang is one of the world’s largest undeveloped copper and gold porphyry deposits and is currently in the feasibility stage. Indonesia has become a red-hot IPO market this year and Amman was the largest of the year so far. The company debuted in Jakarta on July 7, raising more than $700m, and enters the ranking at no 46 with a valuation just shy of $9 billion or 135 trillion rupiah, up smartly since the IPO. Harita Nickel, which listed in Jakarta in April raising $672m, has had a tough go of it and the stock has shed more than 30% since then as nickel prices decline at a similar rate. In USD terms Harita Nickel is worth less than $4 billion which places the stock outside the 70 most valuable mining stocks globally. Lithium ranks grow Lithium producer Pilbara Minerals makes a spectacular entry into the Top 50 at position no 42 after spending several quarters bubbling under the ranking. Pilbara Minerals shares are up over 40% so far this year, lifting its value to over $10 billion, surpassing that of fellow lithium miner and Perth neighbour, Mineral Resources. Pilbara Minerals, which is the ranking’s best performer for the quarter, brings the number of companies based in the Wes... Source : https://www.mining.com/top-50-biggest-mining-companies/