In 2024, the total market value of the top 50 global mining companies surged and then declined, with a 10.0% decrease in the fourth quarter compared to the third quarter. Among the top 50 global mining companies, precious metal and diversified operators dominated, while there was a slight decrease in the number of companies engaged in major mineral and strategic emerging mineral resources. Chinese mining companies' market competitiveness continues to strengthen. Currently, sustainability is increasingly becoming a core issue, with the international mining industry focusing on ESG quantitative values, and domestic mining industry promoting green mine construction with the "double carbon" goal, marking a shift from traditional expansion to a high-quality development stage.

01 Global 50 mining companies' total market value peaks and then falls

The total market value of the top 50 global mining companies continued to grow in the first three quarters of 2024 to US$1.5 trillion, but plummeted to US$1.35 trillion in the fourth quarter. The total market value rebounded to US$1.5 trillion in the second quarter of 2025, matching the third quarter of 2024. The threshold for inclusion in the top 50 list increased to US$92 billion, and precious metal, diversified, and copper mining companies dominated the list, with the number of precious metal companies increasing by 7 compared to the previous year. In terms of the countries where the listed companies are located, Canada has a total of 13 companies on the list, with a total market value of US$324 billion, leading in both the number of companies and total market value; mining giants such as BHP and Rio Tinto supported Australia to be ranked second in total market value with a total market value of US$293 billion; the total market value of the 9 Chinese companies on the list is US$195.3 billion, and the market value of many companies has increased significantly.

02 China's mining companies' market competitiveness continues to strengthen

In recent years, the international competitiveness of Chinese mining enterprises has continued to improve, and breakthrough progress has been made in many fields. Among the world's top 50 mining companies in 2025, nine Chinese companies, including Zijin Mining and Shaanxi Coal, have made it onto the list. Compared with 2024, the number of companies on the list has increased, and the market value has increased by nearly $20 billion. Despite the challenges faced by domestic gold companies due to the decline in China's global gold production share, domestic companies in energy minerals, lithium, copper, potash, etc., have shown significant improvement, indicating that Chinese mining enterprises are increasingly prominent in the global industrial chain, and their market influence and voice continue to increase.

03 Sustainability is increasingly becoming a key issue for the global mining industry

Sustainable development is not only a consensus among the major countries in the world, but also the primary challenge facing the mining industry, and it is the core strategy for the future development of mining enterprises. PwC’s report, “Top 10 Business Risks and Opportunities in the Global Mining and Metals Industry to 2025”, proposed that before meeting the ever-rising demand, the mining and metals industry must first overcome three major challenges: achieving sustainable mining, following capital discipline, and meeting the higher expectations of stakeholders. Among the top 10 business risks in the mining industry, six are related to sustainability, which fully demonstrates the importance of sustainability in the mining industry.

04 Sustainability is increasingly becoming a major concern for mining companies to develop

For international mining companies, compliance with international rules and high standards of ESG rules is a basic requirement for globalized operations. First, the mining industry, as a resource-intensive industry, often comes with a large number of land destruction, water pollution, and ecosystem damage issues in its mining activities; second, mining enterprises must also consider the impact on local communities and workers while developing resources; third, good corporate governance is crucial for the long-term stability and success of mining enterprises. Through good ESG performance, international mining companies can establish a responsible social image in the market, attract international sustainable capital, and reduce operational and regulatory risks. For Chinese mining companies, under the guidance of the "double carbon" goal, they have generally formulated green and low-carbon transformation strategic planning to address climate change challenges and achieve sustainable development. More and more Chinese-funded enterprises, especially traditional energy and mining enterprises, are gradually realizing the importance of scientific and technological innovation, taking scientific and technological empowerment as the breakthrough point, accelerating the pace of smart mine construction, and actively introducing new technologies to improve resource utilization efficiency and reduce carbon emissions. As the responsible entity for the creation of green mines, Chinese-funded mine enterprises are accelerating the promotion of green transformation and the construction of green mines, integrating environmental protection concepts into the entire life cycle of mineral development. As of January 2025, the number of national and provincial-level green mines in China is about 1071 and 4682, respectively, and the coverage rate has steadily increased. The construction of green mines has shifted from pilot exploration to full-scale promotion.

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