World’s biggest mining companies now worth $2.17 trillion
An $18 billion July gain hides stock swings of 40% in a month, a $50 billion gap at the top no ranking has seen before, and a spinning revolving door at the bottom.
At the end of July, the combined market capitalization of the world's most valuable mining companies had reached $2.17 trillion, marking an $18 billion increase for the month and a $26 billion gain so far in 2026. The Top 50 ranking, which is now on a monthly basis and recalculation from the start of the decade, has seen a significant $545 billion swing from July's high of $2.33 trillion to June's low of $2.15 trillion.
The biggest winners were gold miners, Zijin Mining and Polyus, while the biggest losers were also gold miners, Fresnillo, Coeur, and Agnico Eagle. Zijin's surge was driven by a first-half profit alert in July, with net profit up 68% and gold output up 15%. Polyus suspended dividends until 2030 to fund investment projects, causing its stock to drop 26% in a single session.
Western mining companies like Managem, Lundin Gold, and Alamos Gold also saw significant gains. Meanwhile, China's gold stocks fell considerably as gold prices dropped from a record high of over $5,590 an ounce in January. South32 returned to the ranking after selling its aluminum business to Alcoa, and Amman Mineral made a notable rise in the Top 50.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written; read the original for the full account.
