Severe rainfall hits Queensland copper miners' operations - Macquarie

Aurelia Metals

14/03/2023 02:28

** Analysts at Macquarie say that severe rainfall has
affected operations around Mount Isa, Queensland, with 29Metals'
 29M.AX  Capricorn and Evolution Mining's  EVN.AX  Ernest Henry
both suspended
    ** Emergency services in Queensland state evacuated
residents to higher ground on Saturday, as record-breaking
floods spurred by heavy rain lashed the region's northwest
    ** Brokerage says merger and acquisition activities continue
in the base metals sector with South African mining giant
Sibanye Stillwater  SSWJ.J  now holding a majority stake in New
Century  NCZ.AX  
    ** Macquarie lifts CY23-26 gold price outlook between 6% and
12% thereby increasing PT on Aurelia Metals  AMI.AX  to A$0.23
    ** IGO  IGO.AX  remains preferred exposure for
lithium/nickel, Sandfire Resources  SFR.AX  remains preferred
exposure to copper with later transforming with first production
expected from Motheo in 4QFY23 - Brokerage
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))