Mining plays a key role in the global economy, powering industries such as construction, energy, and electronics. So which firms hold the highest market valuations? We’ve ranked the world’s top publicly listed mining companies by market capitalisation – calculated as each company’s share price multiplied by its total number of outstanding shares – as of 26 May 2026.
Our table below lists the world’s leading publicly listed mining companies by market capitalisation as of 26 May 2026. Each market cap is shown in USD, alongside the company’s most recent share price and main country of listing.
| Rank | Company | Market cap (USD) | Share price (USD) | Country |
|---|---|---|---|---|
| 1 | BHP Group | $214.9bn | $84.60 | Australia |
| 2 | Rio Tinto | $169.5bn | $104.23 | UK |
| 3 | Southern Copper | $149.9bn | $179.67 | USA |
| 4 | China Shenhua Energy | $143.2bn | $6.60 | China |
| 5 | Zijin Mining | $128.9bn | $4.85 | China |
| 6 | Newmont | $114.9bn | $107.64 | USA |
| 7 | Grupo México | $93.6bn | $12.02 | Mexico |
| 8 | Glencore | $90.1bn | $7.63 | Switzerland |
| 9 | Freeport-McMoRan | $89.1bn | $61.99 | USA |
| 10 | Agnico Eagle Mines | $88bn | $175.91 | Canada |
The information on this page is based on data from public company disclosures, including SEC filings and global exchanges. It is provided for informational purposes only and does not constitute investment advice or a recommendation to trade. While considered accurate as of the stated date, figures may change without notice.
Mining valuations often move with the gap between commodity prices and operating costs (Mining.com.au, 2 February 2026). When prices rise faster than costs, margins and free cash flow can improve; when prices weaken or costs climb, the reverse can happen (Morningstar, 21 April 2026). Shares also tend to respond to sentiment around the wider cycle, including changing views on supply, demand and inventories (Investopedia, 28 September 2025 ). Benchmark prices for iron ore, copper, coal and precious metals can shape expectations for revenue and capital spending across the sector (Andrew Gillis via LinkedIn, 31 March 2025). Stronger prices may also encourage new supply, project approvals or substitution, which can limit the impact over time (Treasury.gov.au, accessed 26 May 2026). For traders and investors, mining equities can provide exposure to commodity markets, but they also carry equity‑market risk, company‑specific factors and sensitivity to broader economic conditions (Scielo, accessed 26 May 2026).
Electrification, renewable energy and advanced technologies are changing demand patterns across mining (Electric Motor Engineering, 26 May 2026). Copper, nickel, lithium and rare earth elements are used in areas such as electric vehicles, grid infrastructure and clean‑energy technologies, increasing attention on these materials (International Energy Agency, 5 May 2021). Traditional bulk commodities such as iron ore and thermal coal remain significant, but sector focus has broadened towards materials linked to decarbonisation, infrastructure and digitalisation (XRF Scientific, 24 December 2024). This can influence which projects attract capital, how companies prioritise development and where exploration budgets go (Wood Mackenzie, accessed 26 May 2026). It can also create performance gaps across the sector, as miners have different commodity exposures (Royal Academy of Engineering, 11 October 2024). However, demand can shift with technology, policy, pricing and substitution, so transition‑linked materials still carry cyclical and operational risk (ScienceDirect, 30 October 2025).
Mining is closely tied to government policy, geopolitics and environmental and social expectations (Canadian Mining Journal, 14 April 2026). Changes in taxation, royalties, licensing or export rules can affect project economics, while trade tensions, sanctions and resource nationalism can disrupt supply chains or market access (White & Case, 12 January 2026). Environmental, social and governance (ESG) factors also shape how investors assess miners, particularly around emissions, water use, land rights, community relations and mine rehabilitation (Murdoch University, accessed 26 May 2026). These issues can affect operating costs, financing conditions and project timelines (RMI, 16 April 2025). They may also influence sentiment when markets reassess regulatory or reputational risk (Hirander Misra via LinkedIn, 19 January 2026).
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