Australia's 29Metals rises, sets flat 2023 production view

29Metals

24/01/2023 24:26

** Shares of copper miner 29Metals  29M.AX  rise as much as
3.4% to A$2.14, their best intraday gain since Jan. 16
    ** Says 2023 copper production expected to be roughly
in-line with 2022 - forecasts 36 kt to 43 kt production for 2023
vs 40 kt produced in 2022
    ** December-quarter copper production was 8 kt, a reduction
from September-quarter production of 12.3 kt 
    ** "Looking ahead to 2023, we are encouraged by the recent
uplift in metal prices" - CEO Peter Albert
    ** 29M up 8.4% YTD, as of last close
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))