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Majors lower

Posted by: Admin | Posted on: June 13th, 2018 | 0 Comments

BHP (ASX: BHP) was 1.3% lower in afternoon Australian trade while in London, Rio Tinto (LSE: RIO) had closed down slightly in London and Glencore (LSE: GLEN) was 1.39% lower.

The gold price has lost a few dollars since this time yesterday and was last worth about US$1,294 on the spot market.

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Barrick Gold (TSX: ABX) was off 0.17% in Toronto, while shares in Katanga Mining (TSX: KAT) gained more than 25% on news the Glencore subsidiary had settled its legal dispute in the Democratic Republic of Congo. 

Back in Australia, diversified Mineral Resources (ASX: MIN) fell again today, down more than 5% at the time of writing, as its hopes to acquire Atlas Iron fade.

MinRes also today announced it had agreed to acquire Cleveland-Cliffs’ Koolyanobbing iron ore operation in Western Australia.

Cleveland-Cliffs (NYSE: CLF) had closed up 1.49% in New York yesterday and the Metal Bulletin 62% iron ore price was up 0.7% to US$67.23 per tonne.

Article source: http://www.mining-journal.com/capital-markets/news/1340162/majors-lower

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