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Oil-driven inflation fears erase $264 billion from top miners' value

The 50 biggest mining firms ended September worth $2.26 trillion, according to MINING.COM's ranking.

Reported · Written up by our desk · Mining

Oil-driven inflation fears pushed bond yields to their highest level since 2008 and led the Federal Reserve to its first rate hike in three years, a mix that weighed on gold and on stocks tied to the metal, OilPrice reports.

As a result, the world’s 50 most valuable mining companies collectively lost $264 billion in market value in September, according to MINING.COM's Top 50 ranking cited by OilPrice.

The group closed out the month with a combined value of $2.26 trillion, the outlet said.

Latest closeGold $4,150.40 ▼0.3%

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