BHP Overtakes Glencore as Top Mining Brand with US$6.1 Billion Valuation

Overall, Brand Finance reported a general rise in brand value in the mining industry, with 28 out of the 39 brands it tracks increasing in value by at least 4 percent compared to 2023. US aluminum producer Alcoa (NYSE:AA) saw the highest increase, jumping to a brand value of US$1 billion — equivalent to a 127 percent boost.

The report also sheds light on the resilience of Chinese mining brands in the face of economic challenges.

Jiangxi Copper (OTC Pink:JIAXF,HKEX:0358) led the charge as the most valuable Chinese mining brand; it is also fourth on the list overall despite a 9 percent dip in brand value year-on-year to US$4.1 billion. Notable new Chinese entries this year include Aluminum Corporation of China (OTC Pink:ALMMF,HKEX:2600), which boasts a brand value of US$1.4 billion, and CMOC Group (OTC Pink:CMCLF,HKEX:3993) with a brand value of US$1.3 billion.

This surge in Chinese representation underscores the nation's growing influence in the global mining arena. China now has the highest number of companies on the list, totaling 11 out of the 50 most valuable mining brands worldwide.

The US closely follows, with three new entrants bolstering its presence to a total of eight brands in this year’s rankings.

In addition to assessing brand value, Brand Finance employed its Global Brand Equity Monitor research to compile a Sustainability Perceptions Value (SPV) Index. This metric provides insight into which mining brands global consumers perceive to be most committed to sustainability. According to the firm, sustainability is a significant driver of for investment, accounting for 8.3 percent of customer consideration.

As sustainability concerns continue to gain prominence, the mining sector is facing escalating pressure to adapt. The 2024 SPV Index from Brand Finance highlights South Korean brand Posco Holdings (NYSE:PKX,KRX:005490) as leading the charge — the steel manufacturer has the highest SPV at US$513 million.

Brand Finance Valuation Director Savio D’Souza commented on the industry’s upsurge in sustainability commitments:

“Amidst the global energy transition and prioritization to secure critical mineral supplies, the mining industry plays an increasingly important role in the shift to cleaner energy sources. Mining brands are poised for a promising future as they build resilience through their commitment to sustainability and continue to meet the changing needs of their stakeholders.”

As the mining sector continues to evolve amid global economic shifts and sustainability imperatives, stakeholders are advised to remain vigilant and adaptive to emerging trends and market dynamics.