Measured on a weighted average basis, the world's top 100 miners, by value, have bounced by 121% from lows seen in the aftermath of the September 15 2008 bankruptcy of Wall Street investment bank Lehman Bros., but remain 53% below high stock prices seen over the past 12 months.By comparison, the MSCI world equities $, a benchmark for listed stocks of all kinds, across the planet, has risen 40%, or bounced from lows seen early in March this year. The MSCI emerging markets $ has jumped by 62% from its lows. The KBW banks index, which aggregates the performance of 24 US banks, has now risen by 129% from its lows, but a broader measure of 80 banks listed across the world has increased from lows by a more modest 98%.Within the broader resources group, listed primary miners of silver stand out, with an average weighted gain of 244%, led by London-listed Mexican miner Fresnillo, which has so far registered a rise of 523% in its stock price. Looking at mining stocks more broadly, the world's hottest 100 mining stocks, with a market value of at least $20m, have risen by 233% on average.London-listed Norseman Gold (market value: $68m), which mines gold in Australia, has risen by 1 867% from its lows; African Minerals ($ 469m) by 1 722%; Century Mining ($25m) by 1 600%; African Copper ($28m) by 1 686%;  La Mancha Resources ($82m), a gold miner in Africa and Australia, by 1 575%;  Ivanhoe Australia ($550m) by 1 433%, and so on.Looking at the world's top 100 mining stocks by value, some of the sharpest recoveries have been registered by stocks that were trashed in especially volatile country markets. Thus Bumi Resources (coal, Indonesia) has risen 800% from its lows, and Uralkali (potash, Russia), by 424%.Seen over the past 12 months, the best composite stock price performances among mining subsectors have been delivered by silver, zinc, copper, nickel, uranium, tin, and gold stocks, in that order. Measured in absolute terms, the best performances have been delivered by listed stocks specialising in uranium, gold, and silver. Among the top 10 best performing most valuable miners may thus by found Fresnillo, Iamgold (up 338%), Sichuan Hongda (zinc), Ivanhoe Mines (copper-gold developer), First Quantum (copper-gold miner), Shanxi Lu'an (coal), and Eldorado Gold. There are also a number of top performers that may be classified as recovering stocks (from especially heavy debt loads), such a Teck, up 427%.A Reuters report out on Tuesday stated that mining shares have turned red hot this year after a disastrous 2008 and are set to keep outpacing other sectors as the top beneficiaries of growing optimism that a global recession will be shorter than feared. This process has in fact been underway for some six months, if listed stock prices are used as a measure.At this point, the worst performing top 100 mining stocks by value start with the woeful Anglo Platinum, currently in the process of fundamental restructuring as outlined in a presentation on Tuesday by Cynthia Carroll, CEO of parent company Anglo American. Anglo Platinum's stock price performance has been further hampered by the performance of the rand, the world's best performing currency over the past 12 months.Among the worst performing big miners may be found a clutch of potash diggers: Arab Potash, Qinghai, global leader PotashCorp, K+S, Silvinit, and Mosaic, through, by now, some of these stocks have bounced from lows by 100% and more.Coal miners, both within and outside Asia, are also represented among the poorer performers, in the names of Coal & Allied, Shenhua, New Hope, China Coal, Consol Energy, and Peabody Energy. Aluminium names are also attracted to the bottom, for now, as seen with Alcoa, Norsk Hydro, Hindalco, Alumina, and Chalco.There have been worrying performances from diversified miners Anglo American, Exxaro, and ARM, which each have varying degrees of connectedness with South Africa. However, AngloGold Ashanti and Gold Fields, both run out of South Africa, rank far higher up in the stock price performance measures, and produce the metal that's turned in the best relative performance among commodities for the past year and more.

WORLD'S TOP 100 MINING STOCKS (by value)

Ranked here on broad 12-month performance

Stock

From

From

Value

Price

high*

low*

$ bn

Bumi Resources

$ 0.18

-80.6%

800.0%

3.49

Fresnillo

GBP 5.80

-4.0%

523.1%

6.34

Teck

$ 13.71

-74.5%

427.3%

6.55

Uralkali

$ 16.57

-79.5%

424.4%

7.04

Iamgold

$ 9.73

-2.0%

338.3%

3.55

Sichuan Hongda

CNY 16.80

-10.2%

340.9%

2.54

Ivanhoe Mines

CAD 8.20

-34.9%

298.1%

2.67

First Quantum

CAD 51.90

-44.5%

307.1%

3.50

Shanxi Lu'an

CNY 33.80

-28.5%

279.3%

5.70

Eldorado

$ 8.34

-14.0%

250.4%

3.09

Kazakhmys

GBP 6.70

-65.9%

292.2%

5.46

Shanxi Xishan

CNY 23.90

-20.6%

242.4%

8.49

KGHM Polska Miedź

PLN 70.35

-38.1%

250.3%

4.36

Vedanta

GBP 13.07

-53.1%

264.3%

5.54

Silver Wheaton

$ 8.82

-44.7%

251.4%

2.54

ENRC

GBP 6.39

-58.8%

249.2%

12.55

SDIC Xinji

CNY 13.61

-8.7%

198.5%

3.69

Shanxi Guoyang

CNY 24.08

-18.6%

201.0%

3.40

Tongling

CNY 15.84

-11.3%

190.1%

3.01

Shandong Gold

CNY 38.14

-12.3%

188.9%

3.98

Hebei Jinniu

CNY 32.68

-41.3%

208.9%

3.77

Freeport-McMoRan

$ 50.98

-59.9%

224.7%

20.99

AngloGold Ashanti

$ 36.20

-7.5%

170.8%

12.82

Jiangxi Copper

CNY 24.40

-31.8%

195.0%

5.85

Yunnan Copper

$ 20.04

-31.3%

194.3%

3.69

Shanxi Lanhua

CNY 29.42

-23.1%

184.3%

2.46

Randgold Resources

$ 57.93

-0.2%

160.0%

4.44

Zhongjin Gold

CNY 60.75

-14.8%

166.4%

3.20

Antofagasta

GBP 6.24

-18.1%

169.3%

9.38

Sterlite

$ 9.62

-58.2%

208.3%

6.81

Gold Fields

$ 12.27

-14.6%

164.4%

8.64

Pingdingshan Tianan

CNY 29.50

-46.4%

195.0%

4.65

Norilsk

$ 10.98

-65.3%

212.8%

20.93

Buenaventura

$ 24.75

-30.6%

175.0%

6.80

Rio Tinto

GBP 30.07

-58.0%

202.2%

66.20

Polyus

$ 41.00

-48.8%

192.9%

7.82

Shenzhen Zhongjin

CNY 16.40

-28.7%

170.6%

2.46

Hindustan Zinc

INR 566.50

-25.8%

163.5%

4.85

ERA

AUD 22.01

-11.8%

135.4%

3.21

Western Mining

CNY 13.80

-45.8%

160.4%

4.82

CSN

$ 21.45

-59.1%

172.6%

17.02

Franco-Nevada

AUD 26.27

-14.5%

126.1%

2.27

Yamana

$ 8.57

-49.6%

158.9%

6.28

Sociedad Química

$ 32.88

-44.7%

153.3%

8.65

Kinross

$ 16.47

-35.1%

140.4%

11.44

Peñoles

MXN 169.25

-43.3%

148.5%

6.43

Lonmin

GBP 14.23

-60.6%

165.2%

3.42

Mechel

$ 7.47

-87.3%

191.8%

3.11

Zijin

CNY 8.52

-26.2%

126.6%

13.16

Goldcorp

$ 32.12

-39.0%

132.1%

23.45

Agnico-Eagle

$ 48.46

-40.0%

132.2%

7.54

National Aluminium

INR 257.85

-54.5%

145.0%

3.37

Lihir

AUD 3.06

-15.9%

101.3%

5.54

Neyveli Lignite

INR 97.95

-37.0%

120.6%

3.33

Banpu

THB 315.00

-42.9%

125.0%

2.48

Newmont

$ 42.71

-20.6%

101.7%

20.46

Xstrata

GBP 7.18

-71.4%

148.7%

32.11

BHP Billiton

GBP 15.13

-31.4%

106.8%

138.98

Cameco

CAD 29.64

-33.2%

106.8%

10.02

Hunan Valin

CNY 6.78

-36.6%

109.3%

2.72

Fortescue

AUD 2.88

-78.1%

148.3%

6.79

Harmony

$ 10.40

-21.5%

90.1%

4.43

Cliffs Natural

$ 28.78

-76.4%

143.9%

3.27

Magnitogorsk

$ 0.36

-75.0%

140.0%

4.02

Southern Copper

$ 19.56

-49.7%

114.5%

16.70

Jinduicheng

CNY 15.39

-41.5%

102.0%

6.07

Newcrest

AUD 29.70

-20.1%

79.5%

10.98

Barrick

$ 33.64

-35.9%

94.8%

29.38

Vale

$ 18.94

-57.1%

115.2%

92.81

Yanzhou Coal

CNY 14.72

-44.6%

93.7%

6.39

ICL

$ 9.50

-63.5%

111.1%

12.02

Impala

ZAR 172.87

-52.6%

99.7%

12.36

Minmetals

CNY 17.09

-54.9%

99.9%

2.69

Kumba Iron Ore

ZAR 191.73

-44.9%

87.0%

7.24

Agrium

$ 44.49

-60.9%

101.5%

6.98

Eramet

EUR 201.39

-69.9%

109.7%

7.18

Pivdennyi HZK

UAH 8.55

-5.0%

40.2%

2.34

Chalco

CNY 11.10

-53.5%

88.1%

15.59

NMDC

INR 221.00

-57.2%

91.8%

17.76

Peabody Energy

$ 31.80

-64.1%

98.8%

8.50

Alumina

AUD 1.42

-73.9%

107.9%

2.69

Consol Energy

$ 37.37

-68.6%

102.0%

6.75

China Coal

CNY 10.93

-50.0%

82.2%

14.66

Mosaic

$ 44.57

-72.7%

103.1%

19.81

Silvinit

$ 400.00

-82.4%

110.5%

3.13

K+S

EUR 47.69

-51.0%

78.0%

10.73

PotashCorp

CAD 110.73

-55.0%

80.3%

28.16

Hindalco

INR 69.15

-63.1%

88.2%

2.38

ARM

ZAR 133.86

-56.4%

76.1%

3.35

Anglo American

GBP 15.91

-56.8%

75.6%

32.57

New Hope

AUD 4.24

-22.4%

39.9%

2.64

Shenhua

CNY 26.71

-49.8%

66.1%

64.56

Norsk Hydro

$ 5.08

-70.5%

86.8%

6.34

Alcoa

$ 9.59

-78.6%

93.0%

9.34

Exxaro

ZAR 77.30

-52.7%

62.7%

3.25

CAP

CLP 10,513.00

-61.1%

59.0%

2.76

Coal & Allied

AUD 85.00

-29.2%

25.9%

5.63

Qinghai

CNY 49.64

-51.3%

34.2%

5.58

Arab Potash

JOD 36.40

-63.2%

42.2%

4.28

Anglo Platinum

ZAR 491.05

-66.8%

40.3%

13.81

Averages/total

-44.1%

161.9%

1138.96

Weighted averages

-53.2%

121.1%

* 12 month

Source: market data; table compiled by Barry Sergeant