CAPITAL MARKETS

Trade data, inflation comments impact

Providence Gold Mines shines

Staff reporter

This article is 4 years old. Images might not display.

Copper closed down 0.59% to US$9,881.25 per tonne and only lead managed a gain yesterday on the London Metal Exchange.

"Exports from China missed forecasts, rising 27.9% in dollar terms in May from a year earlier," Marex Spectron's Anna Stablum said.

"Meanwhile, imports soared 51.1%, which was the fastest pace in over a decade, but below forecast at 53.5%."

The iron ore price also softened, with the MySteel 62% Australian fines down 1.18% to $208.50/t.

Mining majors Anglo American and Freeport-McMoRan closed down 3.1% and 1.1% in London and New York respectively.

Gold has risen just over $1,900 an ounce on the spot market, following comments from US Treasury Secretary Janet Yellen who said president Joe Biden's $4 trillion spending plan would be positive even if it led to a rise in interest rates.

Finally, Providence Gold Mines (TSXV: PHD) was a standout in Toronto.

The junior closed up 25% to C10c on confirming a gold discovery target at its "Providence group of mines" property in California, US.

Its focus in recent weeks was on evaluating a stockpile milling site and property-wide field exploration.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.

editions

Project Pipeline Index 2025

View our 50 top mining projects, handpicked using a unique, objective selection process from an expanded database of 600+ global assets.