Bloomberg News

Rio Overtakes Vale to Become 2nd Biggest Miner by Market Value

October 17, 2012

Rio Tinto Group overtook Brazil’s Vale SA (VALE3) to become the world’s second-most valuable mining company for the first time since 2008, according to closing prices of New York-listed shares.

Rio Tinto’s market value is $98.7 billion compared with Vale’s $98.3 billion, according to data compiled by Bloomberg. BHP Billiton Ltd (BHP) is the biggest.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at

To contact the editor responsible for this story: James Attwood at

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