The combined market value of the world’s top mining companies is nearing $1.4 trillion, driven by a sharp rally in gold prices amid ongoing uncertainty around U.S. trade policy under President Donald Trump.
According to Mining.com on the 22nd, the total market capitalization of the top 50 global mining firms reached $1.36 trillion, marking a $79.7 billion increase compared to the end of last year.
Gold miners led the gains. Harmony Gold, a South African gold producer, saw its share price soar 117% since the end of last year-making it the top performer and pushing it 24 spots higher in the rankings to No. 37. Fellow South African miner Gold Fields also posted an 83% increase in its stock price.
Australia ‘s Evolution Mining entered the top 50 for the first time, further underscoring the sector’s bullish momentum.
Analysts attribute the surge to record-breaking gold prices, as investors seek safe-haven assets in response to persistent pressure from President Trump on Federal Reserve Chair Jerome Powell to cut interest rates.
Gold prices have been hitting all-time highs, with spot prices surpassing $3,300 per ounce on April 16, and climbing further to $3,430 on April 21.
