BHP has held its position as the world’s most valuable and strongest mining brand on the Brand Finance Mining, Iron & Steel 25 league table.
The company has grown its brand value by 51 per cent since 2017, including a 17 per cent increase against last year, to $US6 billion ($8.5 billion), establishing it as Australasia’s most valuable business-to-business brand at the same time.
BHP’s corporate leadership has invested significant effort in charting out a forward-looking brand vision based around growth and security, despite the risk of “global financial challenges,” according to the latest Brand Finance report.
Jumping three spots to become the world’s second most valuable brand is ArcelorMittal, with $US4.3 billion, thanks to the revenue boost provided by the price recovery of steel.
Switzerland’s Glencore, South Korea’s Posco and United Kingdom’s Rio Tinto round out the top five.
“In a sector where brand and reputation have been largely ignored, now more than ever, mining companies are realising that branding matters,” Brand Finance chief executive David Haigh said.
“BHP is the perfect example of this, using a re-branding exercise to demonstrate its role in Australia’s economy and community, substantially improving its brand value over the last two years.”
The mining giant last year launched $10 million in broadcast ads entitled ‘Think Steel’, focusing on BHP’s global steel contribution and Australian roots in providing “the iron ore and coal the world needs to make steel.”
BHP’s $10 million ‘Think Big’ campaign in 2017 similarly emphasised the “positive role that well-run and responsible companies play in society”, while rebranding its name from BHP Billiton to a brand that “Australians have known us for by generations – BHP”.
Vale, the world’s largest producer of iron ore, meanwhile experienced a 26 per cent brand value improvement to $2.6 billion due to the relatively high iron ore price, despite its shares plummeting by 20 per cent after its dam collapsed in January.
The world’s most valuable mining, iron and steel brands (source: Brand Finance):