Markets looking positive

By Staff reporter / May 22, 2019 / www.mining-journal.com / Article Link

Most North American and European market indices were set for upbeat starts today and Australia's S&P/ASX200 was up at the time of writing.

Copper miners gained yesterday, with Freeport-McMoRan (NYSE: FCX) up about 1.5% in New York and Antofagasta (LSE: ANTO) rising more than 2% in London.

Base metal futures were mixed in Asian trade and the gold price remains about US$1,274 an ounce.

Alumunium producer Norsk Hydro (OS: NHY) jumped 5.6% after announcing Brazil's federal court had lifted a production embargo, saying it would ramp up the Alunorte refinery "towards normal production after running at half capacity for more than a year".

The 50% production cut was imposed last year over concerns of a spill after heavy rains.

An embargo remains on using its new waste facility called DRS2 and Norsk said last week its DRS1 had an estimated remaining lifetime of 8-18 months.

Lynas Corp (ASX: LYC) was up 7.7% in afternoon Australian trade - a gain of more than 53% so far this year.

The integrated rare earths producer recently brushed off a takeover proposal from conglomerate Wesfarmers and this week outlined a A$500 million (US$344 million) plan to expand "to meet forecast demand growth".

Finally, Hudbay Minerals (TSX: HBM) continued its recent slide, down 2.5%, following a Bloomberg report it was planning to sell a 30% stake in its Rosemont copper development project in Arizona.

Recent News

Another 'Bubble Check' for the gold sector

September 08, 2025 / www.canadianminingreport.com

Gold stocks continue to hit new highs

September 08, 2025 / www.canadianminingreport.com

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok