CAPITAL MARKETS

Mixed results for miners, markets

Newmont among miners showing declines

Staff reporter
Newmont’s Boddington operations. Image: Newmont Mining

Newmont’s Boddington operations. Image: Newmont Mining

A US-style government shutdown has reportedly been threatened by some British MPs concerned about leaving the EU without a deal.

Meanwhile US and China officials are holding trade talks, while the US dollar is lower amid indications from the Federal Reserve of "flexibility", or the possibility of fewer rate hikes in 2019.

The gold price is about US$7 an ounce lower than this time yesterday, around $1,282/oz on the spot market.

Miners appeared broadly out of favour in North America yesterday, with Toronto's metals and mining stocks closing down 0.29% and gold major Newmont Mining (NYSE: NEM) down about 1%.

It was a similar case in Australia this afternoon, with mining stocks representing the top five declines on the S&P/ASX200.

Gold producers Resolute Mining (ASX: RSG), St Barbara (ASX: SBM) and Evolution Mining (ASX: EVN) had all lost more than 4% at the time of writing.

In London, copper producer Antofagasta (LSE: ANTO) and precious metals miner Fresnillo (LSE: FRES) provided some relief yesterday with gains of more than 3% and 4.6% respectively.

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.

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