London, UK - The latest report from Brand Finance, a leading brand valuation consultancy, reveals significant growth in brand value among the world's most valuable mining brands. Released on March 26, the report indicates that over half of the brands included in the ranking experienced an increase in brand value, primarily driven by rising commodity prices such as iron ore.
In Brand Finance's inaugural mining-specific research for 2024, 28 out of 39 brands from the previous year saw their brand value rise by at least 4%. Notably, Alcoa, a US-based brand, achieved the largest increase at an impressive 127%, reaching USD 1 billion in brand value. Additionally, 11 new entrants joined the rankings this year, representing mining brands from the US, China, and South Korea.
BHP emerged as the world's most valuable mining brand, with a 17% increase in brand value to USD 6.1 billion, surpassing Glencore from Switzerland. BHP's success can be attributed to factors such as enhanced brand strength, increased revenues from higher commodity prices, and contributions from new mines like Prominent Hill and Carrapateena. Notably, BHP also holds the title of the world's strongest mining brand due to positive perceptions of its leadership and commitment to sustainability and corporate social responsibility.
Despite economic challenges, Chinese mining brands demonstrated resilience, with seven new entrants joining the rankings. China now boasts the highest number of ranked brands, with a total of 11 out of the top 50. Higher metal prices, particularly for iron and aluminum, drove significant brand value gains for Alcoa, JSW Steel, and Ternium.
Savio D'Souza, Valuation Director at Brand Finance, emphasized the increasing importance of sustainability in the mining industry amidst the global energy transition. He highlighted the role of mining brands in securing critical mineral supplies and meeting stakeholder expectations through sustainable practices.
Brand Finance's Sustainability Perceptions Index revealed that South Korean brand Posco leads the sector with the highest Sustainability Perceptions Value (SPV) of USD 513 million. Posco's strong performance across all Environmental, Social, and Governance (ESG) dimensions contributed to its high sustainability perceptions.
Brand Finance's annual assessment of over 6,000 leading brands includes comprehensive reports across various sectors and countries. The Brand Finance Mining, Metals & Minerals 50 2024 report provides detailed insights, rankings, and methodology explanations for the world's 50 most valuable mining brands.
