Mining’s $1.4T plunge is like losing Apple, Google and Exxon

Global mining stocks have lost $1.4 trillion since 2011 ­– slightly more than the combined value of Apple Inc., Exxon Mobil Corp. And Alphabet Inc., according to Bloomberg Business.

The international news agency’s World Mining Index dropped to an 11-year low for 2016, primarily due to lagging demand from the industry’s biggest customer ­– China.

Anglo American Plc, a nearly 100-year-old company and the world’s biggest producer of diamonds and platinum, dropped almost 94 percent in valuation from $73 billion in 2008 to $4.5 billion in 2016.

Read more from Bloomberg Business.