CAPITAL MARKETS

Majors, commodities lower

Trade tensions cloud over mining majors on markets

Staff reporter

This article is 6 years old. Images might not display.

Bellwether metal copper was lower again on the London Metal Exchange, as was zinc, nickel, tin and aluminium.

The spot gold price is slightly lower than this time yesterday, around US$1,263 an ounce.

Mining majors were lower around the globe, with Freeport-McMoRan (NYSE: FCX) down 4.26% and metals and miners on London's FTSE100 index down 3.87% yesterday with Glencore down 4.69%.

On the S&P/TSX Composite Index, metals and miners were down 2.23% yesterday.

Among the diversifieds, Hudbay Minerals (TSX: HBM) was worst hit, down 6.26%.

The only gold stock to close higher on the index was Detour Gold (TSX: DGC), up 3.37%. It has been in the headlines in recent days after its board was urged to consider a sale of the company by Paulson & Co.

Junior lithium hopefuls were on the rise though on the TSX Venture Exchange, where Marifil Mines (TSXV: MFM) was up 31.25% and Ultra Lithium (TSXV: ULI) rose 27.5%.

Finally, BHP (ASX: BHP) was close to 1.4% lower today in afternoon Australian trade.

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.