At the end of the first quarter of 2022, metal and mineral prices hit a record high, especially copper, which rose to $5 / lb ($11,000 / ton). Iron ore, the second-largest commodity after crude oil, rose above $150 a tonne.
Since then, both commodities have fallen more than 20 percent , officially entering bear markets.
At the end of the first quarter of 2022, Mining.com's list of the world's top 50 mining companies had a combined market capitalization of $1.75 trillion.
Halfway through 2023, these companies have lost a combined $356 billion in market value, including a $45 billion drop in the second quarter.
At present, the combined market value of the top 50 mining companies is $1.38 trillion, which is back to the level at the end of June 2021.
