CAPITAL MARKETS

Markets mixed ahead of US break

ASX-listed explorer St George was one of today's big risers

Staff reporter
The US markets are closed for Thanksgiving today

The US markets are closed for Thanksgiving today

Both the S&P/TSX Composite Index and the S&P500 closed lower ahead of today's Thanksgiving break in the US.

The latest minutes from the US Federal Reserve's Federal Open Market Committee meeting have indicated the likelihood of a rate rise next month and the gold price rose as the US dollar weakened.

It was a positive period for the majors, BHP (AU:BHP) was up 1.3%, Rio Tinto (LN:RIO) had closed up almost 1.7% and, in Toronto, Barrick Gold (CN:ABX) rose almost 1.6%.

One of the bigger movers in Australia today was St George Mining (AU:SGQ).

The explorer was up almost 49% on news it would escalate drilling to a 24/7 programme until Christmas at its Mt Alexander nickel-copper project in Western Australia, following recent "outstanding success".

Meanwhile on the TSX Venture Exchange, Noble Metal Group (CN:NMG) rose 300% to C$0.02 (US$0.02) for no discernible reason, having last provided an update on its exploration efforts in August, when it said work had been hampered by fires, snow melts and mud slides.

Among commodities, iron ore reached its best close in two months at just over US$65 a tonne, copper reached $6,923/t and the beleaguered uranium spot price managed a slight gain of five cents to $20.20 per pound.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.