Aussie miners gain in Q4, on eight-year winning streak amid M&A wave

Allkem

27/12/2023 23:37

** Australian miners  .AXMM  set to close 2023 about 8.3%
higher, on track for their eighth straight year of gains
    ** AXMM set to gain 12.3% in Q4, after posting losses in Q2
and Q3, in a year marked with high-profile mergers and
acquisitions among miners
    ** Iron-ore imports to top steelmaker China are expected to
hit record high this year on strong demand due to low
inventories at the country's mills and ports, driving prices
 .DCIOcv1  up
    ** China demand and Panama mine closures helped lift copper
prices, with benchmark  .CMCU3  set to end the year 2.7% higher
    ** Mining-giant BHP  BHP.AX  up 10.1% this year, Rio Tinto
 RIO.AX  and Fortescue  FMG.AX  added about 16.1% and 39.2% 
    ** BHP sold coal mines to Whitehaven  WHC.AX  in a $4.1 bln
deal this year
    ** Gold explorers  .AXGD  on track to record biggest yearly
gain since 2016 as bullion prices thrive on weaker dollar
    ** Lithium stocks set to record yearly losses with miners
IGO  IGO.AX  and Mineral Resources  MIN.AX  declining around 32%
and 9.9%
    ** Liontown Resources  LTR.AX  up 22% this year after a $4.2
bln takeover bid by Albemarle  ALB.N  crashed
    ** Sector majors OZ Minerals and Newcrest were acquired in
multi-billion dollar deals, while Allkem merged during the year


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Australian mining stocks    https://tmsnrt.rs/3tudaND
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 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((aaditya.govindrao@thomsonreuters.com))