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Spotlight on majors

The state of play for the world’s two biggest miners by market capitalisation will be in the spotlight this week with both due to release operational reviews.
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BHP's Olympic Dam

Staff reporter

Rio Tinto will release its quarterly operations review late tomorrow in London, or Wednesday morning in Sydney.

The diversified major closed slightly higher in London on Friday, after announcing it was declaring force majeure on certain contracts over Rusal links due to US sanctions on some Russian companies and individuals.

BHP is set to release its operation review for the nine months to March 31 on Thursday.

It was up more than 0.8% in late afternoon trade in Australia today as markets await Russia's reaction to Western strikes on Syria over the weekend.

The spot gold price had risen as high as US$1,365 an ounce last week on geopolitical concerns but was back down around $1,343/oz earlier today. 

A second round of strikes was not priced in and could prompt "a sharp risk-off move in markets", Think Markets chief market analyst Naeem Aslam told Reuters.

Gold major Barrick Gold closed up 2.6% on Friday in Toronto. It holds its annual meeting in Toronto next week.