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Mixed moves for miners

The Eira Thomas-led Lucara Diamond Corp (CN:LUC) sparkled with a gain of 3.23% to provide a bright spot in Toronto’s mining sector ahead of International Women’s Day today.
Mixed moves for miners Mixed moves for miners Mixed moves for miners Mixed moves for miners Mixed moves for miners

Lucara, Blackham gain

Staff reporter

Thomas, one of the company's founders and its newly-appointed CEO, spoke with Mining Journal at PDAC this week, saying a significant supply shortage was looming in the industry. 

Overall, Toronto's metals and mining sector closed down 1.73% yesterday, weighed down by the gold sector's drop of 2.25% with Eldorado Gold (CN:ELD) down more than 5.4%.

In the US, copper major Freeport-McMoRan (US:FCX) closed down 3.1% despite telling a copper conference in Madrid that the conditions were right for the red metal to rally in the coming years due to electric vehicle and renewable energy demands, coinciding with a shortfall in new mine supply, Bloomberg reported.

In London, the metals and mining sector closed down 0.54%, with Rio Tinto (LN:RIO) down 0.2%.

However in the steel sub-sector, iron ore and coal miner and steel manufacturer Evraz PLC (LN:EVR) hit a one-year high intraday and closed up 3.5%, shrugging off any concerns over proposed US steel and aluminium tariffs.

BHP (AU:BHP) lost more than 2% in Australian trade today while junior gold miner Blackham Resources (AU:BLK) rose almost 53% on record production in February as it continues its turnaround efforts.

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