Rare earth mining – a magnet for investors. Image: MP Materials
At the end of the second quarter the MINING.COM TOP 50* ranking of the world’s most valuable miners had a combined market capitalization of just under $1.50 trillion, up a respectable $213 billion so far in 2025.
The total stock market valuation of the world’s biggest mining companies remains nearly $250 billion below the all-time high reached three years ago however. The Top 50 also once again underperformed the broader market despite new multi-year highs and record prices for a number of major metals over the last three months.
Rare event
Since the inception of the Top 50, China Northern Rare Earth has been the only producer of the 17 elements in the ranking despite the frenzy surrounding the sector as China tightens control and rare earth becomes a geopolitical hot potato.
At the end of Q1, these pages speculated…
