CAPITAL MARKETS

Markets buoyed by talk of US-China talks

Cobalt 27, Ivanhoe on the rise

Staff reporter
 Semi-autonomous mining equipment at work underground at Ivanhoe’s Kakula JV in the DRC

Semi-autonomous mining equipment at work underground at Ivanhoe’s Kakula JV in the DRC

"Had a very good telephone conversation with President Xi of China," US president Donald Trump tweeted earlier, saying the countries' teams would begin talks prior to the pair's meeting at G20 in Japan next week.

Markets across the globe closed higher yesterday and were mostly set for a positive start today.

Among the bigger moves by mining stocks on equity markets, Cobalt 27 Capital Corp (TSXV: KBLT) leapt 17.58% yesterday on news of Pala Investments' proposed acquisition to create Nickel 28 Capital Corp.

The move puts its share price up 23.64% year-to-date at C$4.08 but is still a long way from the $9.58 it was trading at 12 months ago, having fallen in line with the drop in cobalt prices.

Ivanhoe Mines (TSX: IVN) jumped 7.4% to a 17-month high of $3.76.

It had provided an update earlier this week on construction at its 6 million tonne per annum Kakula copper mine joint venture in the Democratic Republic of Congo.

It is headed back towards the $4 mark, which it traded above for much of 2017, before it plunged in February 2018 as the DRC flagged changes to its mining code.

Ivanhoe has gained more than 58% so far this year.

Toronto's metals and mining stocks closed up 1.69% yesterday.

Australia's metals and mining stocks were up 1.45% at the time of writing, with BHP (ASX: BHP) up more than 1.7%.

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.