July saw 16 of the top 25 metals and mining companies worldwide record declines in market cap compared to June, while the rest booked increases. In aggregate, their value as of July-end was US$730.11 billion, down 3.5% from US$756.6 billion at the end of June. The SNL Metals & Mining index also saw a decline of 2.7% during the month.
London-listed PJSC Norilsk Nickel Co. rose to the fifth spot while Anglo American PLC fell to sixth, switching positions compared to the previous month. PJSC Norilsk Nickel gained 1.8% in market cap. Anglo American suffered the steepest drop among all companies on the list, falling 12.7%, though it reported a higher profit for the first half and increased its dividend along with announcing a US$1 billion share buyback.
Percentage-wise, Teck Resources Ltd. had the second-highest drop at 11.7%, falling six spots from June to the bottom of the list. Teck posted a 63.6% drop in second-quarter attributable profit and trimmed its full-year steelmaking coal production guidance.
Russian gold producer PJSC Polyus saw a 10.1% rise in market cap, climbing three spots to 17 after reporting higher production and sales for the second quarter. The second-highest increase came from Newcrest Mining Ltd. at 9.4%, climbing one spot from June to 11th place.