Riding a rocketing iron ore price, market cap of Vale, Rio Tinto, BHP Billiton, Fortescue Metals and Anglo American gain a combined 54% since early February.
With few options left to salvage investments hit by a prolonged downturn in commodity prices, more shareholders are demanding change at miners they perceive to have strong assets but weak boards and management.
The first green shoots of a mining rally showed themselves in the fourth quarter, according to a new report from EY describing the performance of the Canadian Mining Eye Index.