CAPITAL MARKETS

Slowdown fears weigh on markets

MinRes jumps on Albemarle deal

Staff reporter

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

However China's foreign trade is expected to remain stable in 2019 as the sector exerts more growth potential amid external challenges, according to a foreign trade report released by the Ministry of Commerce, the country's official news agency Xinhua reported yesterday.

The S&P500, FTSE100 and TSX Composite Index closed lower on Friday, as did Brazil's Bovespa although that index has shown a gain of more than 20% for the year so far, while the other indices have weakened.

Still in Brazil, Vale (BZ: VALE3) has provided a one-year return of almost 45% according to Bloomberg, with the wire service reporting the miner's US$500 purchase of technology firm New Steel last week bolsters Vale's case for acquiring BHP's share of the pair's shuttered Samarco joint venture.

In Australia, Mineral Resources (ASX: MIN) was a standout on the benchmark S&P/ASX200 today, up more than 9% at the time of writing.

It had announced it had executed the agreement for the US$1.15 billion sale of 50% of Wodgina and to form a joint venture over the lithium project with global specialty metals giant Albemarle (NYSE: ALB). 

In Toronto, junior Japan Gold gained more than 34% or C5.5c as it repriced stock options to 16c - it had also surged earlier last week on news of Goldcorp backing.  

Finally, the gold price was worth about US$1,237 an ounce on the spot market, several dollars lower than late last week.

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.