This year, more than half of the brands in the ranking of the world’s most valuable and strongest mining, metals and minerals brands witnessed an increase in brand value, according to new data from brand valuation consultancy Brand Finance.

This year, 11 brands from the US, China and South Korea entered the ranking.

Twenty-eight out of 39 brands from the previous year’s ranking recorded increased brand value in this year’s rankings in what is the first year that Brand Finance has conducted sector-specific research.

BHP is now the world’s most valuable mining, metals and minerals brand, following a 17% increase to a brand value of $6.1-billion.

The Australian brand reclaims the crown from Swiss brand Glencore (brand value down 1% to $5.9-billion).

BHP is also the world’s strongest brand in the sector, now rated AAA, attributed to improved perceptions of its strong leadership and commitment to corporate social responsibility and sustainability.

Further, despite a struggling economy, Chinese mining, metals and minerals brands showed resilience.

Newcomers like Chinalco (valued at $1.4-million) and CMOC (valued at $1.3-billion) have bolstered China’s prevalence in the ranking.

Jiangxi Copper leads the Chinese entrants as the most valuable Chinese and fourth most valuable brand in the sector.

Behind China, the US accounts for eight of the world’s top mining, metals and minerals brands.

Higher raw metal prices, such as that for iron-ore and aluminium, saw metals mining brands Alcoa, JSW Steel and Ternium record the largest brand value gains among brands listed in the ranking.

The US's Alcoa led the charge with a 127% increase in brand value to $1-billion.

Behind Alcoa, India’s JSW Steel came in second (brand value up 77% to $1.1-billion), followed by Mexico’s Ternium (brand value up 55% to $714-million).

“Amid the global energy transition and prioritisation to secure critical mineral supplies, the mining industry plays an increasingly important role in the shift to cleaner energy sources. Mining brands are poised for a promising future as they build resilience through their commitment to sustainability and continue to meet the changing needs of stakeholders,” says Brand Finance valuation director Savio D’Souza.

Brand Finance also uses its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index which determines the role of sustainability in driving brand consideration across sectors.

In the mining sector, sustainability drives 8.3% of customer consideration.

Brand Finance’s perceptual data also offers insight into which brands global consumers believe to be most committed to sustainability.

The Index displays the proportion of brand value attributable to sustainability perceptions for individual brands.

This Sustainability Perceptions Value (SPV) is the financial value contingent on a brand’s reputation for acting sustainably.

From here, Brand Finance’s perceptual research is analysed alongside CSRHub’s environmental, social and governance (ESG) performance data to determine a brand’s ‘gap value’. This is the value at risk, or value to be gained, arising from the difference between sustainability perceptions and actual performance.

As sustainability concerns continue, the mining sector faces escalating pressure to adapt to the global energy transition, Brand Finance points out.

The 2024 Sustainability Perceptions Index finds that, in the mining sector, South Korean brand Posco has the highest SPV of $513-million, while BHP has the second highest SPV at $500-million.

Posco’s perceptual and performance scores on sustainability were above the mining sector average across all ESG dimensions.

In addressing this, Posco announced last year its new vision, “Better World with Green Steel”, that embodies its 2050 carbon neutrality goal, with plans to finalise the commercialisation of its hydrogen reduction steel technology by 2030.

Similarly, BHP commands high sustainability perceptions owing to its ambitious emissions reduction targets, commitment to achieving net-zero operational emissions by 2050, and considerable investments in cleaner technologies, demonstrating its dedication to addressing global climate change.