Mining majors among world's most valuable brands

BHP and Rio Tinto are among Australia’s top 10 most valuable corporate brands, according to advisory agency Brand Finance’s latest annual assessment of brand values. The miners added brand value in the 2020 study, while big banks and telcos in the top-10 lost significant value.
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Staff reporter

BHP was the only miner that made Brand Finance's 2020 top-500 most valuable global brands, led by Amazon, Google, Apple and Microsoft, which did have 27 oil and gas companies and the Japanese metals groups Mitsui, Sumitomo and Marubeni.

Mining and construction machinery giant Caterpillar came in at number 345.

BHP was 356th with its estimated A$8.4 billion brand value.

In the list of Australia's 100 most valuable brands, BHP moved up two spots to fourth behind top brand Woolworths, Telstra and Commonwealth Bank.

Rio was up one spot to ninth behind Coles and the other three big banks.

"BHP and Rio Tinto are climbing the ranks, entering the top five and top 10, respectively," Brand Finance said.

"BHP has remained Australasia's most valuable B2B brand, recording a 2% increase in brand value to $8.4 billion. BHP's brand value has relied solely on its strong revenue forecasts in the face of a brand strength decline (down 1.8 to BSI 71.0) caused by weakening corporate social responsibility scores.

"Fellow mining brand, Rio Tinto, has also recorded steady brand value growth, up 4% to $4.8 billion.

"Both brands are negotiating the increasing intolerance of new mining projects, among the Australian public and internationally; a strong brand becomes increasingly important in keeping other influential stakeholders, such as regulators, on side to maintain growth and profitability."

Only two other miners made the Australian list.

Fortescue Metals Group moved up three places to 43rd, while South32 dropped eight spots to 83rd.

Engineering and construction firm Worley's 88% brand value growth to $584 million made it the fastest-growing Australian brand.