CAPITAL MARKETS

Markets mixed as some re-openings loom

Gold stocks gain

Staff reporter

This article is 4 years old. Images might not display.

China returns from the Labour Day break today, while US president Donald Trump tweeted it was "exciting to see our country starting to open up again!"

The S&P 500 closed up 0.9%, the FTSE 100 rose 1.66% and commodity prices closed higher on the London Metal Exchange, where copper was up more than 0.6%.

Among the mining majors, diversified Rio Tinto (LSE: RIO) and copper major Freeport-McMoRan (NYSE: FCX) both gained more than 1%.

Gold rose back above US$1,700 an ounce to be trading at $1,707/oz earlier on the spot market.

In Toronto, gold major Barrick Gold closed up 2.2% to within a dollar of the high of C$40.14 reached in April, a level last seen in 2012.

Mongolia-focused miner SouthGobi Resources (TSX: SGQ) made another substantial gain, up 40% on no news.

Finally, RNC Minerals (TSX: RNX) - which has pivoted in recent years from a focus on a nickel project in Canada to its high-grade gold mine in Western Australia - rose 6% ahead of speaking at a virtual investor conference later this 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

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

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.