Mining companies listed on the Mexican Stock Exchange (BMV), such as Industrias Peñoles and Grupo México (GMéxico), earn 107,326 million pesos in market value so far in 2024.
GMéxico, the fourth largest copper producer in the world, is the mining company that has earned the most with 75,826 million pesos, for a total of 809,017 million pesos. Its shares gain 9.64% to 103.48 pesos this year.
In second place, the company owned by the BAL Group, Peñoles, rose 25,864 million pesos in market capitalization, to stand at 124,533 million. Its papers rise 26.75% to 313.98 pesos.
For its part, Minera Frisco gains 6,953 million pesos in capitalization value and is worth 20,011 million pesos. Its shares increase 50.43% to 3.49 pesos in the year.
On the contrary, Minera Autlán is the one with the worst performance, losing 1,317 million pesos in market value to 2,490 million pesos so far this year. Its papers sink 34.58% to 7.70 pesos.
Fresnillo, a Peñoles subsidiary listed on the London Stock Exchange, earns $830 million and has a total market value of $6.39 billion. Its shares advance 10.45% to 6.57 pounds sterling, according to companiesmarketcap.
Cipactli Jiménez, independent investor, commented that the good performance of mining companies is mainly due to an increase in the price of raw materials and a stronger dollar.
“The price of the dollar and precious metals tend to rise with each bomb since they are safe haven assets. Furthermore, the change of administration in the United States is a preponderant factor in adding uncertainty to the markets since the direction of the world’s largest economy depended largely on it,” he said.
Jiménez said the fear of an economic recession is behind us. “The ghost of the recession that has only recently been apparently in the past. Jerome Powell, Chairman of the Federal Reserve, is managing to deliver on his promise of a soft landing and that the labor market no longer represents an inflationary risk.”
Gold futures maintain an upward trend this year, which has boosted mining companies.
The precious metal closed this Monday at $2,669.20 per ounce, indicating an increase of 27.59% for the year.
Mexico ranks 15th
According to the Mining Statistical Manual, prepared by the Ministry of Economy, from January to June, that is, the value of the metals and minerals extracted by companies from the Mexican subsoil, amounted to 108,657 million pesos, which is within the first 15 economies with the highest production.
Among the countries with the highest value and volume of global mining production is China with 1.4 trillion dollars, followed by the United States with 1 trillion dollars and Russia with 720,184 million dollars.
Mining companies with the highest market capitalization lose 23,030 million dollars
The five most valuable mining companies in the world that are listed on the stock market together have lost $23.03 billion so far this year. Firms in the sector such as BHP Group, Rio Tinto and Freeport-McMoRan stand out, among others.
The Australian mining company, BHP Group, is the most valuable in the world with a market capitalization value of $130.34 billion; However, so far in 2024 it has lost $42.52 billion, according to data from the companiesmarketcap portal.
Shares of BHP Group, a company that operates in more than 90 countries in the world, also show a decline of 20% to 40.31 Australian dollars per unit so far in 2024.
As of December 16, the Chinese mining company China Shenhua Energy has the second largest market capitalization, adding nearly $113.63 billion. During the year it shows an advance of 29.2 billion dollars.
Prices of China’s largest state-owned coal miner advance 38.5% to 43.45 renminbi per unit.
For its part, the mining giant Rio Tinto, whose shares are listed on the New York Stock Exchange, loses $18.16 billion in capitalization value in 2024.
The shares of the multinational business group in the mining sector fall 17.7% to $61.26 per unit in 2024.
For its part, Southern Copper, a mining company controlled by Grupo México, is positioned as the fourth most valuable issuer, and registers a rise of 11.27 billion dollars in market value, to stand at 77.81 billion dollars. Its shares rise 15.7% to $97.39 per unit.
In fifth place, Freeport-McMoRan, an American company present in the mining and metallurgical sectors, loses $2.32 billion in market value, to $58.72 billion. This company shows a decline of 4.3% to 40.74 pesos per dollar.
The Mexican Grupo México is positioned 12th in the world ranking, followed by Fresnillo, at 47th.
