CAPITAL MARKETS

Mining majors slump

Mining heavyweights dropped on stock markets around the world yesterday as commodity prices tumbled on continuing concerns over trade and Turkey contagion.

Staff reporter
 Slight lift in commodity futures today

Slight lift in commodity futures today

However commodity futures were on the rise this afternoon, following reports China would resume trade talks with the US later this month.

Copper futures were showing a gain of 1.63% at the time of writing but remain near a 13-month low.

Metals and mining stocks sank 5.93% in New York yesterday, with Freeport-McMoRan (NYSE: FCX) closing down 7.7% and Newmont Mining (NYSE: NEM) down 6.3%.

On London's FTSE100, the metals and mining sector fell 4.92% yesterday.

Anglo American (LSE: AAL) closed 6.2% lower and Glencore (LSE: GLEN) was down more than 5.6%.

The S&P/TSX Composite Index's metals and miners were down 5.65% and IAMGOLD (TSX: IMG) lost more than 8.1%.

In Australia, the benchmark S&P/ASX200 had metals and mining stocks down more than 2% at the time of writing.

BHP (ASX: BHP) was down more than 2.3% and diversified miner and services company Mineral Resources (ASX: MIN) was 7.2% lower in afternoon trade.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

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.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.