Global mining group BHP has retained the title of the world’s most valuable mining, iron and steel brand, despite recording a 3% drop in brand value to $5.8-billion.
This is according to the latest report by brand valuation consultancy Brand Finance, which highlights that BHP’s brand value was affected by several events last year, including negotiating a $5-billion lawsuit related to the Samarco disaster, batting the repercussions of the Australian bushfire and its exposure to fluctuating global trade.
BHP was overtaken by rival Rio Tinto as the sector’s strongest brand, which is based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation.
Alongside revenue forecasts, brand strength is a crucial driver of brand value.