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Miners broadly positive

It was a broadly positive period for mining equities around the globe with Australian-listed lithium producer Galaxy Resources (AU:GXY) following yesterday’s 3.5% gain with a further rise above 9%.
Miners broadly positive Miners broadly positive Miners broadly positive Miners broadly positive Miners broadly positive

Galaxy gains again

Staff reporter

The spot gold price was about US$8 an ounce higher than this time yesterday and producer St Barbara (AU:SBM) rose more than 5.5% as it updated dividend details and in spite of its Simberi operations in Papua New Guinea being affected this week by a work stoppage.

Fellow gold miner Newcrest Mining (AU:NCM) shares were down more than 1% however in the wake of a tailings dam failure at its flagship Cadia operations this week.

US-listed gold miner Newmont Mining (US:NEM) provided a bright spot on the S&P500 with a gain of 0.63% yesterday.

It was a positive day on the S&P/TSX Composite Index with the metals and mining sector up 1.48%.

Torex Gold Resources (CN:TXG) and SSR Mining (CN:SSRM) were the key movers, up 8.61% and 5.53% respectively.

Teck Resources (CN:TECK.B) made the biggest gain among the TSX-listed diversified miners, up 2.7%.

Finally, London's FTSE100 metals and mining sector closed up 0.59%, helped by copper miner Antofagasta (LN:ANTO) gaining more than 3% after announcing a bumper dividend.

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