Bristow said the main driver behind having a strong license to operate is that mining companies are “stewards of national assets.”

It is supplementing its A$1-per-share bid with an off-market offer of equal value in an effort to defeat Shandong Gold.

Gem Diamonds reduced its net debt by $6.6 million in the July-September quarter, ending the period with $1.1 million in cash.

Gold miners dominate the list, but metallurgical coal and phosphate rock companies rank number two and five, respectively.

The Toronto-based miner said production performance has been robust despite the coup-d'etat in Mali and the covid-19 pandemic.