Published on 15 Nov 2023 on Insider Monkey via Yahoo Finance
20 Most Valuable Mining Companies in the World
This article will list the top global mining companies and their current dynamics. If you want to skip our overview of the recent development in the mining sector, read 5 Most Valuable Mining Companies in the World.
According to the Business Research Company, the global mining industry was valued at $2.14 trillion in 2023, an increase from $2.02 trillion in 2022, with a compound annual growth rate (CAGR) of 6.1%. As the world shifts towards clean energy and alternatives to fossil fuels, the demand for minerals such as lithium, copper, and cobalt has surged.
For example, lithium is a critical element in lithium-ion batteries, favored for their high energy density and long lifespan. The global push for EV adoption to reduce carbon emissions has made lithium the new white gold. As the International Energy Agency reports, the need for lithium, especially for electric vehicles (EVs) and battery storage, is expected to surge over 40 times from 2020 to 2040. Likewise, cobalt, another key ingredient in lithium-ion batteries, is sought after for its ability to enhance battery durability and capacity.