Mining industry valuation drops below $1 trillionStaff writer ▼ | October 30, 2015
The market value of the mining industry's listed companies has fallen below $1 trillion for the first time since April 2009, SNL Metals & Mining said.
Mining A 9.3% month-on-month decline
"This represents a 9.3% month-on-month decline (there was the same number of listed companies)," SNL said.
The industry's valuation on the world's stock exchanges has fallen over 43% since the middle of last year, and is now only 39% of the $2.415 trillion valuation achieved in April 2011.
"On this basis, the industry is worth considerably less than Apple Inc. ($650 billion) and Google (Alphabet Inc.; $440 billion)," SNL said.
The low point remains November 2008, when the market capitalization of the then 2,390 listed companies was $656 billion.
The value of the 100 largest listed mining companies is now under $800 billion, having fallen below the $1 trillion mark at the end of July for the first time since June 2009, SNL noted.
These companies' share of the industry's aggregate valuation was 85.6% at the end of last month, compared with a low of 84.3% in February 2011 and a high of 93.8% in November 2008. ■