CAPITAL MARKETS

Market futures, copper up

Polymetal gains on rare earth news

Staff reporter

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

The US and Canada were closed for public holidays on Monday.

Meanwhile the US election contest is heating up, with president Donald Trump upbeat about job creation data on Labor Day and indicating the country would loosen economic ties with China.

"Biggest & fastest financial recovery in history. Next year will be BEST EVER, unless a very sleepy person becomes president…" he tweeted.

Supply concerns have lifted copper to around a two-year high, with it closing up 1.2% on the London Metal Exchange to US$6,810.75 per tonne.

LME inventories had fallen to the lowest level since 2005 on Friday, Marex Spectron's Anna Stablum said yesterday.

The gold price is about US$10 an ounce lower than this point yesterday, around $1,928/oz on the spot market.

Among the market movers in London, Petra Diamonds (AIM: PDL) shot up 28.61% on no news.

Atlantic Canada-focused copper and gold producer Rambler Metals and Mining (AIM: RMM) also surged on no news, closing up 22.2%.

At the bigger end of town, precious metals producer Polymetal International closed up 4.74%.

The company had yesterday pointed to its associate 9.1%-owned associate ThreeArc Mining completing an initial resource for the Buranny area of the Tomtor niobium and rare-earth metals project in Russia.

Finally, copper producer Antofagasta closed up 1.71%.

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.