Volatility on metal and mining markets continued in the third quarter with copper losing sight of record prices hit in March, gold’s bounce back sputtering, lithium doubling in price year to date, coal surging to unprecedented levels, potash advancing to a 14-year peak and uranium experiencing the best market since Fukushima.
The MINING.COM TOP 50* ranking of the world’s most valuable miners lost $134 billion – based on primary exchange share price movements converted into US dollar – over the course of the third quarter and are now worth $1.22 trillion.
From its peak at the end of March the combined value of the top 50 has now shrunk by more than $500 billion, with fertilizer, lithium and coal companies the only stocks showing gains in 2022.
Losses on the LSE, ASX and TSX were compounded by a soaring dollar against all major currencies with BHP, which flirted with a $200 billion in April to briefly become the most valuable stock on the FTSE, now worth $75 billion less.
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