Amman Mining breaks into the global top mining companies ranking, creating six new billionaires

However, base metals and battery metals have plunged into a severe downturn since those boom periods. Prices of copper, zinc, and aluminum have fallen by one-fifth or more; investors in nickel and palladium have suffered losses exceeding 40%; cobalt prices hover near record lows; and lithium trades above $20,000 per ton. Weak metal markets—driven by overly optimistic expectations for robust future demand, especially for copper, lithium, and nickel—have led to sharply lower valuations for mining stocks. As of the end of Q3 2023, the combined market valuation of the industry’s top-tier mining companies has declined by $516 billion from historical highs. Year-to-date, their total market capitalization stands at $1.38 trillion—a drop of $145 billion—reverting to levels last seen at the end of September 2021. Overall market sentiment is so bleak that even the list of the quarter’s top-performing companies included, for the first time, three firms whose share prices actually fell during the period. Amman Mining’s Rise Amman Mining became the first Indonesian company to enter MINING.COM’s Global Top 50 Most Valuable Mining Companies ranking. Priced in U.S. dollars, its shares surged 213% since its July listing on the Jakarta Stock Exchange, pushing its market capitalization close to 450 trillion Indonesian rupiah—over $28 billion. Amman Mining owns and operates the Batu Hijau copper-gold mine, which remains in production, and is developing the Elang project adjacent to Batu Hijau. Elang is among the world’s largest undeveloped copper-gold porphyry deposits and is currently in the feasibility stage, holding 4.7 million tonnes of copper reserves and over 15 million ounces of gold. According to Bloomberg, Amman Mining’s rise has created at least six new billionaires—including Chairman Agus Prohosmito, whose stake in the company is now valued at $2.7 billion. The mining firm’s stellar market performance also added $4 billion to the net worth of Anthoni Salim, head of one of Indonesia’s largest conglomerates. In stark contrast, another major Indonesian mining company, Harita Nickel, has fared very differently. It raised $672 million in its April listing on the Indonesia Stock Exchange—but its share price has since plummeted over 60%, amid persistently falling nickel prices. Lithium’s Decline Lithium sector performance outside China has been strikingly strong—even as battery metal prices have tumbled sharply since peaking above $80,000 per ton in November last year. Yet in Q3, falling battery raw material prices caused the combined market capitalization of the six lithium companies ranked among the Top 50 to shrink by over $30 billion in just three months. The industry’s correction from its 52-week highs has been brutal: Pilbara Minerals—headquartered in Perth—saw its market cap fall 31%, making it the best-performing company in the group. Mineral Resources dropped 37%; Albemarle, SQM, Ganfeng, and Tianqi all fell more than 50%. Pilbara Minerals is the only company among them posting gains year-to-date. It entered the Top 50 last quarter, bringing the number of companies headquartered in Western Australia to five—the highest count among cities represented in the ranking, surpassing Vancouver.

Buy the dip now: Wall Street recommends 27 stocks | Barron’s Annual Roundtable

David Giroux, Chief Investment Officer and Portfolio Manager of T. Rowe Price Capital Appreciation (PRWCX), told Barron’s Annual Investment Roundtable—held on January 10—'The easiest way to make money in the stock market is to buy shares of an excellent company that’s under pressure due to some short-term concerns.' Recent stock market selloffs have pushed the Nasdaq Composite into correction territory—and show no signs of abating. As a result, numerous stocks fitting Giroux’s description are now available. This article is Part II of Barron’s 2022 Annual Investment Roundtable; Part I appeared under the headline '2022 Will Be the Year of the Investment Nerds’ Revenge.' In this installment, Giroux highlights several stocks he believes are currently suffering 'unfair punishment' from the market. Also contributing their top investment picks for the year were Mario Gabelli, Chairman and CEO of investment management firm GAMCO Investors; Henry Ellenbogen, Chief Investment Officer and Managing Partner of Durable Capital Partners; and Abby Joseph Cohen, Professor at Columbia Business School.

Mizuho upgrades Albemarle stock to Outperform at USD 130.00

Oct 15, 2026

Mizuho upgraded Albemarle stock to Outperform with a $130 price target following a 31.1% Q2 revenue increase to $1.74 billion. The company's upcoming Q3 results on November 4, 2026, will be crucial for assessing lithium pricing and performance.

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