CAPITAL MARKETS

Downbeat start for markets

PolyMet on the rise

Staff reporter
 Core from Anglo American’s Sakatti exploration project in Finland

Core from Anglo American’s Sakatti exploration project in Finland

US markets had closed lower on Friday as tech stocks continued to slide.

In the UK, the British government is reportedly planning legislation to override key parts of the Brexit withdrawal agreement, ahead of an October 15 deadline to strike a free-trade agreement with the European Union.

The gold price was up slightly on the spot market to about US$1,938 an ounce at the time of writing.

Copper had gained 2.36% on the London Metal Exchange.

PolyMet Mining (NYSE American: PLM) was one of the bigger market risers on Friday.

The company, 72% owned by Glencore, closed up 63.57% after a court found the water permit for its proposed NorthMet project in Minnesota had been issued with proper procedures.

Finally among the majors, Anglo American gained 3.6% in London on Friday and both Glencore and Antofagasta closed up about 2.8%.

Newmont lost 1.2% in New York, while BHP was up about 1% in morning 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.