BHP Group and Rio Tinto continued to dominate the list of top metals and mining companies by market capitalization in September, as the sector collectively lost value against a strengthening U.S. dollar and reports of numerous environmental, social and governance issues.
The 25 largest companies in the space held a total market cap of US$817.07 billion as of Sept. 30. Rio Tinto and BHP Group had an aggregate market value of $220.39 billion, more than a quarter of the combined total of the 25 companies.
Market cap percentage changes were calculated based on reported currencies, while the analysis bases company rankings on market values converted into U.S. dollars.
After substantial quarterly gains, metals prices went into “correction mode” in September, an Oct. 2 analysis by S&P Global Market Intelligence noted.
Gold markets, which have benefited from investors flocking to the safe-haven investment due to increased market volatility, saw some of that interest turn back to the strengthening U.S. dollar in September.