At the end of the first quarter 2024, the MINING.COM TOP 50* ranking of the world’s most valuable miners had a combined market capitalization of a shade under $1.4 trillion, down $13 billion since the start of the year.
The historic gold run and copper’s comeback, up 14% and 12% so far in 2024, only kicked into a higher gear after the end of the March quarter, but copper and gold counters nevertheless dominate the best performer list for Q1.
The lacklustre combined performance of the sector’s majors came despite the revival in the bellwether metals, but the broader market has been a mixed bag in 2024.
Aluminium is trading not far off 52-week highs, but zinc seems unlikely to breach $3,000 a tonne any time soon and cobalt is bobbing along historic lows below $30,000 a tonne. Nickel has been bumped up after lows in the mid-$15,000s last year, but remains firmly stuck in bear territory and lithium’s 2024 good fortune also looks in danger of petering out.
For the rest of this article: https://www.mining.com/big-5-diversified-mining-companies-are-having-a-rough-2024/