Finance > Capital-markets

Love continues for mining stocks

Investors continued to show some love to mining stocks as commodity prices rose and the US dollar weakened.

Staff reporter

Finance > Capital-markets

Love continues for mining stocks

Investors continued to show some love to mining stocks as commodity prices rose and the US dollar weakened.

Staff reporter

Love continues for mining stocks

Mineralisation at Silver Bull’s Red Zinc Zone

In Australian trade, mining major BHP (AU:BHP) was up slightly in afternoon trade, while in London Rio Tinto (LN:RIO) had closed more than 1.5% higher.
 
In Toronto, the metals and mining sector closed 2.18% higher yesterday.
 
Silver Bull Resources (CN:SVB) was one of the bigger gainers, up 12.82% on no news since polymetallic drilling results in January at its Sierra Mojada project in Mexico where it recently gained access to historic workings.
 
First Quantum Minerals (CN:FM) hit a 52-week high intraday of C$20.31, before closing up 7.73% to $20.22, as investors continued to digest its plans to upsize the Cobre Panama project and a strengthened balance sheet plus record copper production in its latest quarterly.

The gold price was up about US$5 an ounce on the spot market to $1,334/oz earlier, while spot copper rose 2.3% on the London Metal Exchange yesterday and nickel and zinc rose similar amounts.

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