CAPITAL MARKETS

Futures down, talk of BHP/Tesla talks

Centerra tumbles, ASX gold producers rise

Staff reporter

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

Meanwhile Tesla is in talks with BHP over nickel supply, Bloomberg reported, as the electric car manufacturer seeks to shore up supply.

It follows news of similar talks with Vale after Tesla CEO Elon Musk last month outlined plans for new cells with a high nickel content. 

Elsewhere, Centerra Gold (TSX:CG) tumbled 15.3% despite saying its remote Kumtor mine was continuing uninterrupted following political unrest in the Kyrgyz Republic.

Kaz Minerals (LSE: KAZ) lost just 1.7% after telling Reuters it had suspended its Bozymchak copper and gold mine in the Central Asian country.

Gold equities were the big market risers in Australia yesterday, following news of Northern Star Resources and Saracen Mineral Holdings merging to create a global top 10 gold producer. 

Saracen (ASX: SAR) closed up 9.58% and Northern Star (ASX: NST) gained 10.64%.

Fellow gold producers Silver Lake Resources (ASX: SLR) and Perseus Mining (ASX: PRU) rose more than 6% and 5% respectively.

The gold price however has tumbled below US$1,877 an ounce on the spot market.

Copper was little changed on the London Metal Exchange yesterday and Marex Spectron's Anna Stablum pointed to thin trading with China remaining on holidays until Friday.

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: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

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.